Canadian Underwriter


Car thief trying to break into a car
News ClaimsClaims CanadaInsuranceMarkets / Coverages

Why Ontario thinks auto theft needs a federal approach

November 3, 2023 by Jason Contant

Ontario’s provincial government is urging a federal and multi-jurisdictional approach to combat auto theft in Canada. In its 2023 Fall Economic Statement released Thursday, the government called for the Canada Border Services Agency, RCMP, Montreal and Halifax port authorities, as

Financial volatility
News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Is it time for a new reinsurer to enter the market?

October 25, 2023 by Jason Contant

Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never

Scales of justice loaded with money symbolizing high cost of legal action
News AssociationsClaimsClaims CanadaInsuranceLegalMarkets / Coverages

What’s contributing to rising auto premiums in Alberta?

September 26, 2023 by Jason Contant

Litigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20%

U.S. Forest Service co-pilot helping fight Canadian wildfires
News CatastrophesClaimsClaims CanadaInsuranceRisk

Canada’s wildfires: Is industry concerned about lack of firefighters?

July 21, 2023 by Jason Contant

With Canada’s record-breaking fire season continuing to burn hot, firefighter availability and the country’s system of sharing resources is stretched thin. For Canada’s P&C insurance industry, the overall lack of firefighters is a concern, given the sheer number of fires

Car alarm and anti-theft device
News AssociationsClaimsClaims CanadaInsuranceTechnology

How Canadian P&C insurers are tackling record auto thefts

July 17, 2023 by Jason Contant

After the Canadian P&C insurance industry paid out a record $1 billion for auto theft in 2022, some insurers are tackling the issue by offering discounts for consumers installing a tracking system or applying surcharges for those who don’t equip

Smoke rises from wildfires in the Halifax area
News AdjustersAssociationsClaimsClaims CanadaInsuranceMarkets / Coverages

What it’s like on the scene of the Nova Scotia wildfires

June 1, 2023 by Jason Contant

Two large wildfires burning in Halifax and Shelburne counties in Nova Scotia remain out of control, even as fire and additional living expenses (ALE) claims start to trickle in for insurers and adjusters. Some adjusters aren’t able to access the

Close up of conference room with glasses of water on the board table with papers, armchairs and a large window. 3D Rendering
News AnnouncementsAppointmentsInsurance

Introducing IBC’s two newest board members

May 25, 2023 by David Gambrill

Saad Mered, CEO of Zurich Canada, and London Bradley, president and CEO of Allstate Insurance Company of Canada, are the two latest additions to Insurance Bureau of Canada (IBC)’s board of directors. “The collective expertise and vision of IBC’s board

Consulting on an insurance policy
News BrokersInsuranceMarkets / Coverages

Brokers, insurers respond to 2023 Ontario budget

March 24, 2023 by Jason Contant

Ontario’s broker association is glad to see auto insurance as well as enhancing Ontario’s emergency response remains on the provincial government’s agenda.  In its 2023 Ontario Budget, the government said it will “continue to make progress on previous commitments, including

Motorist driving on closes Trans-Canada highway in Abbotsford, BC
News CatastrophesClaims CanadaClimate ChangeInsuranceMarkets / Coverages

Window for action on national flood insurance program is now, IBC says

February 24, 2023 by Jason Contant

Insurance Bureau of Canada (IBC) is applauding the federal government’s latest disaster assistance for flood recovery costs associated with British Columbia’s costliest severe weather event, but is stressing the urgent need for action on a national flood insurance program. The

Sandbags for flood protection
News CatastrophesInsuranceMarkets / Coverages

Ontario’s new approach to emergency response

February 7, 2023 by Jason Contant

Ontario’s government will launch a ‘provincial exercise program’ to create, review and update new provincial emergency response plans and test whole-of-government emergency response, the province announced Friday. The provincial exercise program is part of Ontario’s first-ever Provincial Emergency Management Strategy

Sea to Sky highway in B.C.
News BrokersInsuranceMarkets / Coverages

EY clarifies report that rekindled public-private auto insurance debate

February 1, 2023 by Jason Contant

EY Canada has issued a clarification to a report it conducted that B.C.’s public auto insurer says show the province’s auto insurance rates are among the lowest in Canada. Commissioned by the Insurance Corporation of British Columbia (ICBC), EY conducted

Toy auto cars in front of differing stacks of coins
News AnnouncementsBrokersCommercial LinesInsurance

Alberta UCP announces auto rate freeze

January 26, 2023 by Alyssa DiSabatino

Alberta’s United Conservative Party announced today an auto insurance rate freeze until the end of 2023, and insurer and broker associations alike are calling this decision “disappointing” and “not the best option” for consumers.  The government is also requiring insurance