Canadian Underwriter


Two people riding on an ATV through the snow News ClaimsInsuranceLegal

ATV roll-over decision could help insureds who are denied coverage

March 23, 2023 by Philip Porado

Recent granting of a plaintiff’s motion for summary judgement against an insurer in an all-terrain vehicle (ATV) overturn accident may make it easier for auto insurance policyholders to access their coverage. Ultimately, the decision may be of future benefit to…

Auto accident damage at intersection. News BrokersInsuranceMarkets / CoveragesRisk

What Ontario’s DCPD change means for insureds, brokers

March 23, 2023 by Alyssa DiSabatino

Ontario’s insurance regulator has passed OPCF 49, which gives consumers the choice to opt out of Direct Compensation-Property Damage (DCPD) coverage on auto policies. But the change may not save consumers as much money as they think it will, one…

Oilsands in Alberta News CatastrophesClimate ChangeInsurance

Largest recorded Alberta earthquake not natural, from oilsands wastewater: study

March 23, 2023 by Bob Weber THE CANADIAN PRESS

EDMONTON — The largest recorded earthquake in Alberta’s history was not a natural event, but most likely caused by disposal of oilsands wastewater, new research has concluded. “This event was caused by wastewater disposal,” said Ryan Schultz, a Canadian seismologist…

Bitten slice of pumpkin pie and traces of a whole pie. Above view News Earnings / RatingsInsuranceReinsurance

How the reinsurance sector netted out after renewals

March 23, 2023 by David Gambrill

Inflation took a small bite of out of global reinsurers’ generally profitable combined ratios, and rising interest rates made a 27% dent in the reinsurers’ shareholder equity, but overall the global reinsurance sector came out of 2022 in decent shape,…

Alberta Premier Danielle Smith at a press conference in February. News ClaimsClaims CanadaInsuranceMarkets / CoveragesRisk

Alberta premier says changes coming to ensure prompt reporting of oilsands spills

March 22, 2023 by Dean Bennett - THE CANADIAN PRESS

EDMONTON – Premier Danielle Smith says laggardly public notification of Imperial Oil oilsands wastewater spills has illuminated the need for Alberta to ensure future alarms are sounded quicker. Smith says her government is working with the province’s oilsands regulator to…

World map with natural disaster icons News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesInsuranceMarkets / CoveragesReinsuranceRestoration

Will the multi-billion-dollar Cat loss trend continue indefinitely?

March 22, 2023 by Jason Contant

Global insured losses from natural catastrophes reached US$125 billion in 2022, the second consecutive year in which insured losses from NatCats exceeded US$100 billion, according to the latest sigma study from Swiss Re Institute. And it looks like this trend…

Excavator working at garbage dump. News ClaimsCommercial LinesConstructionInsuranceLegal

Court sides with Trisura in $475K construction bond case

March 22, 2023 by David Gambrill

Trisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept…

Big rig trucks parked in a fleet facility News AssociationsBrokersInsuranceMarkets / CoveragesProductsTechnology

Facility’s newest approach for cracking down on trucker misrepresentations

March 22, 2023 by Alyssa DiSabatino

Facility Association (FA) is implementing a telematics program in Alberta that will collect geographic information on its participants to help ensure their premiums accurately reflect their risk. The programs allows FA the side-benefit of seeing who’s misrepresenting where they’re headquartered…

Volcano Calderon Hondo crater Fuerteventura Spain News Earnings / RatingsInsuranceMarkets / Coverages

High interest rates crater the P&C industry’s investment income

March 21, 2023 by David Gambrill

Despite an 8% increase in direct premiums written in 2022, and generally stabilizing—if not decreasing—loss ratios in several key business lines, Canadian P&C insurers’ net investment returns took a huge hit from the impact of rising interest rates last year,…

Driving on a foggy highway News ClaimsClaims CanadaInsuranceMarkets / Coverages

Insurer reveals Top 5 auto fraud claims of 2022

March 21, 2023 by Jason Contant

Some claims show obvious elements of fraud but others go above and beyond. Such was the case with Saskatchewan Government Insurance’s (SGI) Top 5 “eyebrow-raising” attempted auto insurance frauds from 2022. SGI released last week their Top 5 list of…

Soccer field center and ball in top view. News BrokersClaimsClaims CanadaInsurance

Want lower liability exposure for athletes? Don’t play sports in B.C.

March 21, 2023 by Alyssa DiSabatino

A recent Supreme Court of British Columbia case points to the difference between the standard of care for sports negligence claims in B.C. compared to the rest of Canada.   In Miller v. Cox, the court found that a recreational soccer…

Inflation in Canada concept News Insurance

Inflation in Canada continues to slow, reaffirming central bank’s rate pause

March 21, 2023 by The Canadian Press

OTTAWA – Canada’s annual inflation rate continued to slow last month, reaffirming the central bank’s decision to hold its key interest rate steady. In its latest consumer price index report released Tuesday, Statistics Canada said the country’s inflation rate rose…