Canadian Underwriter

Keyword
Commercial

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How to grow in an era of new, intangible business risks

December 6, 2018 by David Gambrill

As business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA

News BrokersInsuranceProfessional Development

How this commercial brokerage addresses skills shortages

October 14, 2018 by Greg Meckbach

Brokerage owners in some regions are struggling to find staff who know commercial lines. “There are very few people (in Saskatchewan) who understand commercial insurance deeply,” said David Reidy, president and CEO of Regina-based commercial brokerage Henderson Insurance Inc. To

News Insurance

Working around the workarounds

October 1, 2018 Lisa Kerr, president, Zynamic Solutions

There is a lot of room to improve the current process for buying commercial insurance in Canada. In a brokerage, fully half of the 24 common touchpoints involved in processing a single new commercial policy could be removed through automation,

News Earnings / RatingsInsuranceMarkets / Coverages

Signs of a hardening commercial market

August 20, 2018 by Greg Meckbach

Shopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond

News Brokers

Fine for broker in business interruption coverage mix-up

July 13, 2018 by David Gambrill

A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

How this top-tier Canadian brokerage plans to double its revenue in 5 years

July 11, 2018 by David Gambrill

Navacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private

News InsuranceMarkets / Coverages

Aviva combines multiple business segments into one commercial policy

March 6, 2018 by Jason Contant

Aviva Canada has launched a new commercial product that allows a company’s different business operations to be included on one policy. This consolidation is intended to make it easier for brokers to offer limits and extensions for different segments. In

News InsuranceMarkets / CoveragesProfessional Development

Commercial brokers close to “holy grail” of data integration

November 19, 2017 by Canadian Underwriter

Toronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data

News AppointmentsInsuranceMarkets / Coverages

Insurer “redefines” its commercial insurance strategy

November 16, 2017 Jason Contant, Online Editor

Economical Insurance is looking to “redefine” its approach to commercial insurance with a new strategy and structure, the insurer’s manager of public and media relations, Doug Maybee, told Canadian Underwriter on Thursday. “It certainly shows that we are taking steps

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

North American commercial insurance buyers likely to face rate increases in 2018: Willis Towers Watson

November 7, 2017 by Canadian Underwriter

Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3

November 3, 2017 by Canadian Underwriter

The B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to