Canadian Underwriter

Keyword
insolvency

News AssociationsClaims CanadaInsurance

PACICC ups insolvency benefits to consumers

April 20, 2020 by David Gambrill

Canada’s property and casualty insurance companies have upped the benefit amounts they will pay out to policyholders in the wake of an insurance company insolvency. In addition, they have broadened coverage for some commercial specialty lines customers who were previously

News ConstructionInsuranceMarkets / Coverages

How Ontario got it right on surety

May 30, 2019 by Jason Contant

The federal government should follow Ontario’s lead in addressing contractor insolvency before the federal budget bill becomes law, says the Surety Association of Canada (SAC). The federal budget bill, Bill C-97, was tabled in March and passed second reading on

News BrokersClaimsInsuranceLegislation / RegulationRisk

How commercial insurers are addressing this D&O coverage gap

September 21, 2018 by Greg Meckbach

If your corporate client goes under and occupies polluted land, what happens if individual directors are left on the hook to clean up environmental contamination? This is the subject of “long, complex discussions” that Aon Canada brokers are having with

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide

August 21, 2017 by Canadian Underwriter

If Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on

News AssociationsCatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

News AssociationsCatastrophesInsuranceMergers and Aqcuisitions

C.D. Howe Institute report calls for federal emergency backstop arrangement for earthquakes

August 3, 2016 by Canadian Underwriter

A former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency

News CatastrophesInsuranceMergers and Aqcuisitions

Canadian insurance industry looking to partner with government to establish new capital framework for managing earthquake risk: CIFF speakers

May 27, 2016 Jason Contant, Online Editor

There is a need to formalize the role that government can play in helping to manage the financial impact of a “mega cat,” speakers suggested on Wednesday at the Canadian Insurance Financial Forum (CIFF) in Toronto. “We are well-capitalized for