Canadian Underwriter

supply chain

New inventory at car dealership
News InsuranceMarkets / Coverages

Auto sales up 8% in July for ninth month of growth

August 3, 2023 The Canadian Press

RICHMOND HILL, Ont. – DesRosiers Automotive Consultants Inc. says auto sales growth continued in July but at a slower pace than recent months. The consultancy firm says total light vehicle sales for the month were up eight per cent from

Car repair person buffing out paint after replacing body parts.
News BrokersClaimsInsurance

Brokers try to manage client stress over auto repair timelines

July 25, 2023 Philip Porado

Spare parts shortages continue to cause significant auto insurance claims delays, and a scarcity of adjusters is, in some cases, exacerbating the issue. Many problems brokers are now seeing and helping clients manage wouldn’t have popped up in prior years,

Adjuster filling out a car accident assessment form
News BrokersCatastrophesClaimsCommercial LinesConstructionInsurance

Growth? Maybe. Why carriers aren’t promising a soft market yet

May 11, 2023 Alyssa DiSabatino

Beyond the obvious threats of inflation and a possible economic downturn later in 2023, a confluence of other issues is triggering duress for brokers and insurers, which has carriers cautioning the hard market isn’t over yet. Taken together, these factors

Cargo containers at a port in Vancouver
News Commercial LinesInsuranceMarkets / Coverages

Vancouver port traffic dips in 2022, hinting at economic slowdown to come

May 3, 2023 Christopher Reynolds - THE CANADIAN PRESS

MONTREAL – Cargo volumes at Canada’s largest port fell by three per cent last year as the global economy began to show signs of a slowdown. Though grain and fertilizer exports surged in the second half of 2022, the gains

Economic downturn and recovery
News EmploymentInsuranceMarkets / Coverages

Auto insurers take note: Why this economic downturn is so unusual 

April 25, 2023 by Jason Contant

Canada’s sluggish economy might be headed for a ‘shallow downturn,’ but it’s unique in the sense there’s also pent-up demand for motor vehicles, said BMO Financial Group chief economist Douglas Porter during an industry event last week.  “Anybody here who

News Insurance

Paid Coverage for Common Threats to the Supply Chain

March 1, 2023 Falvey Insurance Group

Common Threats to the Supply Chain The past few years have felt like a lesson in supply chain fragility. We’ve seen how everything from minor inconveniences to significant disruptions can send the supply chain spiraling, causing product shortages, port congestion,

Man hands using tablet in a supply chain warehouse
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Do clients have a better handle on supply chain risk?

February 28, 2023 by Alyssa DiSabatino

Many businesses are still recovering from supply chain disruptions that shocked them during the height of the pandemic, and 80% of firms said a lack of insurance solutions is among the greatest challenges to addressing their risks, according to a

Shopping for a new car
News Markets / Coverages

2022 auto sales lowest since 2009: DesRosiers

January 5, 2023 The Canadian Press

DesRosiers Automotive Consultants Inc. says light vehicle sales were up 5.5 per cent in December compared with last year but were down for the whole year. The firm estimates 109,000 new light vehicles were sold in the month of December,

Storm damaged house
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What makes the current claims environment so challenging?

December 2, 2022 Philip Porado

A convergence of global factors will cause above-average levels of claims inflation for the foreseeable future. Claims professionals who spoke with Canadian Underwriter said multiple market-dependent factors – including prolonged COVID-19 lockdowns in China, political instability, labour and materials shortages,

Woman using a mobile phone while charging an electric car
News Climate ChangeInsuranceTechnology

Delays for new hybrid, electric cars reach years – not months – amid supply crunch

November 14, 2022 Brett Bundale - THE CANADIAN PRESS

When Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time

Car bodies on an assembly line factory
News InsuranceTechnology

Auto parts producers see supply chains improving but shutdowns still weigh

November 8, 2022 Ian Bickis - THE CANADIAN PRESS

Canadian auto parts makers say the supply picture is improving and helping boost their bottom line, but disruptions continue to weigh on operations and profits. Magna International Inc. said Friday the picture has improved significantly from last year as global

Cargo containers and inflation concept
News InsuranceMarkets / Coverages

Addressing supply issues not substitute for rate hikes, says Bank of Canada official

November 2, 2022 The Canadian Press

OTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn’t substitute the need for higher interest rates. Rogers and Bank of Canada governor Tiff Macklem appeared before