Keyword
commercial auto
Why thousands of unsafe commercial vehicles remain on Ontario roads
December 6, 2019 by Greg MeckbachMore than half of Ontario’s commercial vehicle carriers have not been inspected by the province’s transportation ministry in the past two years, and the number of vehicles inspected each year has dropped big-time. These were among the findings in the…
The biggest challenges facing the commercial auto space
December 3, 2019 by Jason ContantCapacity issues, cross-border exposure, ongoing trade negotiations and liability losses are some of the biggest challenges in the commercial transportation space, a speaker said last week at Insurance Bureau of Canada (IBC)’s inaugural Commercial Insurance Symposium. “In the past four…
What commercial brokers are saying about the worrisome market turn
February 4, 2019 by David GambrillWhether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.…
Pot law renews industry call for drug testing of commercial drivers
January 11, 2018 by Greg MeckbachThe federal government’s push to legalize recreational marijuana is raising concerns within the insurance industry about commercial auto safety and eliciting calls for random drug testing among commercial drivers. Once marijuana is legal, this will “have an impact on the…
U.S. commercial insurance prices remain nearly flat in the second quarter: Willis Towers Watson survey
September 11, 2017 by Canadian UnderwriterCommercial insurance prices in the United States were again nearly flat during the second quarter of 2017, global advisory, broking and solutions company Willis Towers Watson (WTW) reported on Monday. For the eight quarter in a row, price changes were…
Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB
August 23, 2017 by Canadian UnderwriterResponses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than…
U.S. P&C industry sustains favourable rating activity in H1 2017: A.M. Best
August 17, 2017 by Canadian UnderwriterCredit rating activity for the United States’ property and casualty industry in the first half of 2017 was favourable, with upgrades outpacing downgrades, A.M. Best Company reported on Thursday. Nearly one-third of the 2017 upgrades were driven by “increased parental…
U.S. p&c industry’s reserve adequacy relatively stable in 2016, auto takes hit: Conning
August 10, 2017 by Canadian UnderwriterThe reserve adequacy of the property and casualty industry south of the border was relatively stable last year, with 2016 marking the 11th consecutive year of favourable development from prior-accident years, Conning notes in a study issued this week. “The…
Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%
August 4, 2017 by Canadian UnderwriterEconomical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written…
Premium renewal rate positive across almost the majority of commercial product lines in U.S.: IVANS
August 3, 2017 by Canadian UnderwriterThe premium renewal rate change for most standard commercial lines products in the United States remained in positive territory for July, with workers’ compensation representing the only standout, notes the latest IVANS Index. The majority of standard commercial lines products…
Absence of large losses contributes to 20.6-point drop in Q2 combined ratio for PartnerRe
August 1, 2017 by Canadian UnderwriterPartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an…
MGA market growth beats industry, but weakens with softening rates: Conning
July 13, 2017 by Canadian UnderwriterGrowth in the managing general agent (MGA) market last year exceeded that of the total property and casualty market by 32%, according to a new study from global investment management firm Conning. “In 2016, comparable firms in Conning’s MGA database…