Canadian Underwriter

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premiums

Feature Brokers

Between a rock & a hard market

October 1, 2019 David Gambrill, Editor-in-Chief

We asked hundreds of brokers this year about their attitudes, business strategies, and best practices. Their valuable insights show how brokers can succeed during this challenging turn in the market cycle

News Markets / Coverages

This is how hard the Lloyd’s market has become

September 19, 2019 by Greg Meckbach

Insurance rates on renewal are up nearly 4% in the Lloyd’s market, which has returned to profitability. “While market conditions generally remain at historically competitive levels, price increases have been witnessed across all major lines, most notably in property and

News BrokersInsurance

How the convergence of everything will change the industry

September 9, 2019 by Jason Contant

The Internet of Things (IoT), the “connected economy,” and other phenomena driven by convergence will cause insurance premiums to go down, one industry analyst predicted last week at the Insurance-Canada.ca Executive Forum. “The rate at which this is going to

News Earnings / RatingsInsuranceMarkets / Coverages

Where Q2 personal auto premiums increased the most in Canada

July 17, 2019 by Jason Contant

The hard market continues in personal lines in Canada, with personal auto in Quebec seeing a significant increase in average premiums in Q2 2019, according to Applied Systems’ latest rating index. Last week, the insurance software vendor released its most

News Earnings / RatingsInsuranceMarkets / Coverages

Where Canadian drivers pay the most (and least) for auto insurance

July 19, 2018 by Jason Contant

When it comes to auto insurance premiums in Canada, drivers in British Columbia pay the most, followed by Ontario, data supplied by Insurance Bureau of Canada (IBC) revealed Wednesday. In B.C. last year, average annual auto premiums were $1,680. The

News InsuranceMarkets / Coverages

Insurers applaud provincial decision to remove retail sales tax on insurance premiums

March 27, 2018 by Jason Contant

Newfoundland and Labrador’s decision to remove 5% of the retail sales tax paid on auto insurance premiums over the next four years will help return stability to the market, the Insurance Bureau of Canada (IBC) said Tuesday. Tom O’Handley, manager

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

News CatastrophesClaimsInsuranceMarkets / Coverages

Travelers reports lower net, core income in 2017 Q3 than in 2016 Q3

October 20, 2017 by Canadian Underwriter

A US$700 million pre-tax hit for catastrophe losses in 2017 Q3 contributed to Travelers Companies, Inc. seeing both its net income and core income drop compared to the prior-year quarter. The U.S. insurer’s net income amounted to US$293 million for

News InsuranceMarkets / CoveragesTechnology

New software could make it easier to “adopt and trust” AI systems that set insurance premiums

October 6, 2017 by Canadian Underwriter

New software developed at the University of Waterloo (UWaterloo) in Ontario could make it easier to adopt and trust powerful artificial intelligence (AI) systems that set insurance premiums, generate stock market predictions and assess who qualifies for mortgages, the university

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Global cyber premiums to increase six- to eightfold within a decade: Fitch

September 28, 2017 by Canadian Underwriter

Global cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found

News CatastrophesClaimsClimate ChangeMergers and Aqcuisitions

Standard would help enhance flood resilience of new communities: report

September 26, 2017 by Angela Stelmakowich

Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built