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News Insurance

How commercial premium renewal rates are trending in Canada

April 30, 2021 by Jason Contant

Canadian commercial line renewal rates increased at a slower pace across all major lines in Q1 2021 compared to one year ago, according to the latest commercial premium rate index from tech vendor Applied Systems. Overall, the magnitude of rate

News Insurance

Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

News ClaimsInsuranceLegal

Why this insurer had to pay $187K for ex-Ontario PC leader’s legal defence

January 28, 2021 by David Gambrill

An Ontario court has ordered Sovereign General to pay $187,313 to cover the legal costs of former Ontario Progressive Conservative Party leader Patrick Brown, who personally incurred the expenses while defending a defamation lawsuit arising from the publication of his

News CatastrophesClaimsClaims CanadaInsurance

Why further rate increases could be needed after 2021

October 30, 2020 by Greg Meckbach

Despite double-digit price increases in several commercial lines, premiums will need to rise further, a Bermuda insurer CEO said Thursday. “More rate action is needed and likely it will take beyond 2021 in some lines to get to rate adequacy,”

News Insurance

Sedgwick exec’s Top 4 reasons why condo claim severity is through the roof

October 30, 2020 by David Gambrill

As Canadians carry on their love affair with condos, the number of units being built — and the rapid pace of their construction — have indirectly contributed to the severity of condo insurers’ claims costs, says a senior P&C insurance

News ClaimsCommercial LinesEarnings / RatingsInsurance

Winners and losers of the COVID-19 quarter

September 24, 2020 by David Gambrill

Although COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one

News CatastrophesClaimsInsuranceReinsurance

Lloyd’s proposes “open source” frameworks for future pandemic coverage

July 6, 2020 by David Gambrill

Lloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers

News BrokersInsuranceProfessional DevelopmentRisk

Brokers urged to stay on top of coverage changes as businesses re-open

June 22, 2020 by David Gambrill

Brokers are advised to be aware of the “second wave” — and that doesn’t refer to the anticipated increase in the number of novel coronavirus infections in the fall. No, brokers are now being cautioned about the new wave of

News Commercial LinesEarnings / RatingsInsurance

How Intact is handling commercial insurance relief measures

May 7, 2020 by Greg Meckbach

Canada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call

Feature Brokers

Narrowing your focus

May 3, 2020 Sarah Cunningham-Scharf

In a hard market dominated by large players, small and mid-sized commercial brokerages face an existential choice: Specialize — or risk extinction.

News BrokersClaimsCommercial LinesInsurance

Brokers seek four relief measures for hard-hit commercial clients

April 13, 2020 by Jason Contant

Canadian insurers have rolled out a number of measures to help Canadian homeowners, drivers and business owners in need over the past week, and now Canada’s national broker association is discussing with insurers additional relief measures for commercial clients affected

News ClaimsCommercial LinesInsurance

How to help commercial clients during mandatory business shutdowns

March 31, 2020 by Jason Contant

As non-essential businesses shutter across Ontario, your commercial business clients can take a few common sense preventative measures to help ensure their insurance coverage remains in place and facilities are maintained. To further contain the spread of COVID-19, Ontario Premier