Canadian Underwriter


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 by 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…

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Commercial lines are growing. Will this affect profitability?

May 3, 2023 by Alyssa DiSabatino

Tighter underwriting control, client safeguards and softening of certain lines have helped some business segments start growing again, experts told a Canadian Underwriter webinar. But the industry is wary of growth at the expense of profitability. “We’ve got a lot of…

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New P&C industry organization launches to support mental health

May 2, 2023 by David Gambrill

Friends in the Industry Healing Together (FIHT) — a new industry not-for-profit organization dedicated to bridging the gap between people and mental health services — is looking for friends within Canada’s property and casualty insurance industry. “I think there’s a…

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Why MGAs are here to stay

May 2, 2023 by Alyssa DiSabatino

Hard markets have historically offered a tremendous opportunity for growth for managing general agents (MGAs), but industry experts say they will be here to stay even when the market softens.  Unlike primary insurers, MGAs provide capacity in specialized areas of…

A burnt out neighbourhood following the Fort McMurray, wildfire. News CatastrophesClimate ChangeCommercial LinesInsuranceProductsRiskTechnology

How many Canadian properties are at high risk of wildfire?

May 2, 2023 by Jason Contant

Approximately 300,000 properties across Canada are at a high wildfire risk, with another million carrying a minor risk of being impacted by wildfires during the typical mortgage term, according to Vancouver-based software and data analytics company Minerva Intelligence Inc. Minerva…

Spring flooding in Baie Saint-Paul, Que. News ClaimsClaims CanadaInsuranceMarkets / Coverages

Search continues for two missing firefighters swept away during spring floods

May 2, 2023 by The Canadian Press

BAIE-SAINT-PAUL, Que. – The search continued Tuesday for two Quebec firefighters swept away in floodwaters northeast of Quebec City, as heavy rains washed out roads and cut off homes in several regions across the province. Specialized aerial and ground rescue…

David Wong is the new president and CEO of ICBC News AnnouncementsAppointmentsInsuranceProfessional Development

ICBC announces new president and CEO

May 1, 2023 by Jason Contant

Insurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC…

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Is political risk the next NatCat?

May 1, 2023 by Philip Porado

Much like NatCat events, political risk losses tend to be low frequency but high severity, said a new Oxford Analytica survey, produced for WTW, on how global businesses are managing current political risks. “Political risk losses occur rarely but tend…

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Residents of Quebec town still struggle with aftermath of 2019 flooding

May 1, 2023 by Morgan Lowrie - THE CANADIAN PRESS

SAINTE-MARTHE-SUR-LE-LAC, Que. – Sylvie Bechard had only owned her little brick house for six months when her neighbour came banging on her door on the night of April 27, 2019. The dike holding back the Lake of Two Mountains had…

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Brokers still worry about the hard market, but what’s next?

May 1, 2023 by Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed…

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National Broker Survey: Top tech solution brokers want from carriers

May 1, 2023 by Philip Porado

Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges…

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Brokers optimistic about growth, but support for 2 key M&A strategies declines

May 1, 2023 by Philip Porado

While property and casualty (P&C) insurance brokers in Canada said they’re optimistic about the future, Canadian Underwriter‘s 2023 National Broker Survey shows declining support for two key brokerage growth strategies, including M&A. When asked about expected financial performance in 2023,…