Canadian Underwriter

Keyword
commercial lines

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News BrokersClaimsClimate ChangeInsuranceLegal

Why your clients may be exposed to more climate change claims

January 4, 2024 by David Gambrill

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

Digital brain microchip
News InsuranceTechnology

How to insure emerging tech companies

September 27, 2023 Jason Contant

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

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News ClaimsCommercial LinesEarnings / RatingsInsurance

Aviva Canada CEO’s take on the commercial lines market

August 17, 2023 by David Gambrill

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

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News BrokersCatastrophesClaimsCommercial LinesEarnings / RatingsInsuranceMGAsReinsurance

Will markets soften after 2022’s strong performance?

July 14, 2023 Glenn McGillivray

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

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News BrokersInsuranceRisk

What’s changing the way commercial brokers view loss control?

June 26, 2023 David Gambrill

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

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News BrokersClaimsCommercial LinesInsuranceLegal

Did the court jump the gun on allowing a negligence claim against a brokerage?

June 16, 2023 by David Gambrill

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

Melting ice cream to signify a softening market for commercial insurance
News Insurance

Is market segmentation helping to soften pricing?

June 14, 2023 David Gambrill

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

Stick shift to represent shifting focus
News BrokersCommercial LinesInsuranceRisk

Why the hard market and COVID-19 shifted brokers’ focus

June 9, 2023 David Gambrill

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

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News Commercial LinesInsuranceMarkets / CoveragesReinsurance

2022 financials: Industry barely keeping pace with inflation

April 12, 2023 by Alyssa DiSabatino

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

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News AnnouncementsEarnings / RatingsInsurance

Where Aviva Canada’s 2022 results rank them in Canada’s P&C marketplace

March 9, 2023 by David Gambrill

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

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News Commercial LinesInsuranceMarkets / CoveragesTechnology

How Canada’s D&O and cyber insurance markets are shifting

November 14, 2022 by David Gambrill

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

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News AdjustersClaimsCommercial LinesInsuranceLegalProducts

Damage appraisal method leaves a toilet back-up case running

October 28, 2022 by David Gambrill

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,