Your business clients may face increased exposure to climate change liability claims, based on a recent decision by the Federal Court of Appeal (FCA). “With strong language, the Federal Court of Appeal affirmed the ‘existential challenge’ posed by climate change…
Technology companies today can run the gamut from those resembling traditional manufacturers to others dabbling in artificial intelligence or emerging tech – which are more difficult to insure. This variety means both insurers and brokers need to thoroughly understand a…
Canada’s commercial lines market is starting to become more competitive in certain segments after a few years of a hard market during the post-COVID period, Aviva Canada’s CEO observes. But future economic uncertainty suggests insurers aren’t yet ready to plunge…
For 2021, a year-in-review for the P&C industry began with the sunny news that it “was the most generally favourable for Canadian insurers in a long while.” But that same review ended with the suggestion that those rosy numbers may…
It’s possible the pandemic, combined with the P&C industry’s ongoing hard market, may have permanently altered how insurers assess their risk appetites. And brokers wise to this shift have adjusted their approach to advising clients accordingly. Given that insurers are…
A brokerage has been added as a defendant in a sideline negligence claim, even though the central legal action for breach of contract involving two other parties (including a defendant reinsurer) has yet to be decided. Ontario’s Superior Court applied…
A softening, but segmented, insurance market is allowing commercial lines brokers to leave some aspects of the years-long hard market behind. Improved pricing models are one key ingredient in the ‘stability’ now seen in commercial lines, brokers observed. Carriers are…
Commercial lines in Canada have changed in the aftermath of the pandemic. These days the monolithic ‘hard market’ has evolved into multiple markets differentiated by segmented pricing and best-in-class loss-control measures. And the commercial broker’s role has changed accordingly. After…
Editor’s Note: This updated version of the article corrects the industry’s net investment income from -$61,400 to -$61.4 million. And $1.1 million OCI has been updated to $1.1 billion. Canadian Underwriter apologizes for the errors. A combined ratio of…
Aviva Canada’s year-end 2022 P&C results have vaulted the company into second place in the Canadian market, the company’s CEO announced Thursday. “Aviva Canada delivered strong results for fiscal year 2022, achieving a combined operating ratio of 92.5% (90.7% in…
Softer market conditions in Canada’s D&O insurance market have arrived, with ample capacity and decreased pricing in this class of business in 2023 Q3, according to Aon. “The [Canadian D&O] market transition further accelerated in Q3, especially for public companies…
Did a toilet backup cause $35,700 worth of damage to the cell phone stock of a retail business, as argued by Gore Mutual, or $105,000, as the business owner claimed? Neither side agreed with the appraised value of the losses,…