Canadian Underwriter

News


News Insurance

How the Big 5 banks insure their directors’ liability

March 18, 2019 by Greg Meckbach

Canada’s five biggest banks are paying nearly $8 million a year collectively in premiums, for billions in directors’ and officers’ liability insurance with no deductibles, recent security filings show. The total coverage limit and the circumstances under which those policies…

News Insurance

Flood victims win lawsuit against neighbour over laneway access

March 18, 2019 by Greg Meckbach

A commercial property owner who was sued for $100,000 by neighbours over water damage is unable to appeal to the Supreme Court of Canada. The top court announced March 14 it is denying Marilyn Marks leave to appeal a Court…

News Professional Development

How to onboard your new sales managers

March 18, 2019 by Jason Contant

Proper manager onboarding and development can have high payback for any sales force, noted the blog Why New Sales Managers Need More Training, published late last week in Harvard Business Review. Onboarding is the process of integrating a newly hired…

News ClaimsLegislation / Regulation

Poison reports up in wake of cannabis legalization

March 18, 2019 by THE CANADIAN PRESS

HALIFAX – Atlantic Canada’s largest children’s hospital is warning parents about the risks of edible weed after a flood of cannabis-related calls to its poison centre. The IWK Health Centre says it fielded three times as many cannabis calls to…

News Insurance

Paid You’ve Filed Your Taxes. What Comes Next?

March 18, 2019 by David Smagata, DAS

At some point in their lives, most Canadians will be subject to a tax audit from the Canada Revenue Agency (CRA). While the process can be anxiety-inducing and stressful, having the right insurance policy can help you prepare for an…

News Insurance

The big concern among commercial clients about cyber policies

March 15, 2019 by Greg Meckbach

Some commercial clients are looking for more consistency across the industry in cyber policy wording. Survey data shows cyber is the Number 1 hot topic for members of Risk and Insurance Management Society (RIMS) Inc., said Jennifer Goodwin, chair of…

News BrokersInsurance

How bad financials can affect your client’s insurance rates

March 15, 2019 by Greg Meckbach

Do insurers really care about a client’s balance sheet? A former lawyer who represented The Trump Organization recently suggested clients could get a good rate if the broker could be certain that the client could pay the premium. Brokers contacted…

News Insurance

Don’t count on interest rate hikes this year or next

March 15, 2019 by THE CANADIAN PRESS

TORONTO – TD Securities is predicting the Bank of Canada will keep its key interest rate on hold through to the end of next year. The forecast builds on the firm’s forecast last week that the central bank would not…

News Insurance

What this study says about replacing windshields for vehicles with driver-assist safety features

March 15, 2019 by David Gambrill

Camera calibration – which is required after replacing windshields on cars that offer advanced driving assistance systems (ADAS) – is just as efficient using aftermarket replacement windshields as it is with original equipment manufacturer (OEM) windshields, according to a new…

News Insurance

How waiving this government fee could reduce auto premiums

March 15, 2019 by David Gambrill

If the Ontario government wants to take one small step towards reducing auto insurance premiums for its drivers, it might consider dropping its administrative charges for drivers and their insurers to obtain three-year driving records, one industry professional suggests. “Assuming…

News BrokersInsurance

Broker fined for failing to review with his client a $1.4-million coverage change

March 14, 2019 by David Gambrill

A Manitoba broker is out of pocket $1,000 for failing to review with his client a $1.4-million change to a client’s commercial property insurance policy. On Dec. 12, 2011, an insurer requested renewal instructions from Manitoba broker Horace Smaczylo, as…

News Insurance

What this direct writer learned by starting up its own broker channel

March 14, 2019 by David Gambrill

We’ve all heard about multi-channel insurance companies that sell through the broker channel while at the same time beefing up their direct channel. But how about CAA Insurance, a direct writer that has become a multi-channel writer by building up…