Canadian Underwriter


Talent magnet: Attracting the best people News EmploymentInsuranceProfessional Development

Try these innovative approaches to attract talent

January 17, 2023 by Jason Contant

Canada’s P&C insurance industry has been in the middle of the war for talent for a while now, so it would be well-served to take a look at some under-used or innovative approaches to hire and retain talent, as suggested…

Lower shot of a businessman in a white button up shirt and red tie stopping a set of wooden dominoes with his hand News BrokersCatastrophesClaimsCommercial LinesInsuranceRisk

What are Canada’s major business risks for 2023?

January 17, 2023 by Alyssa DiSabatino

Cyber incidents are the new top business concern for Canadian companies in 2023, according to the Allianz Risk Barometer 2023.   The top three risks in Canada are cyber incidents (35%), the skilled workforce shortage (33%) and climate change (29%),…

man wearing a white hardhat and yellow safety vest is onlooking a large blue shipping container on a truck News BrokersClaimsCommercial LinesInsuranceRisk

How much cargo theft rose in 2022

January 16, 2023 by Alyssa DiSabatino

Cargo theft across Canada and the U.S. rose by 15% in 2022 from the previous year, equal to 1778 recorded theft incidents, a cargo theft recording firm reports. And cargo insurers should be aware of an emerging threat: fictitious cargo…

Lighthouse in a hurricane News CatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsurance

What’s driving reinsurer underwriting margins in 2023?

January 16, 2023 by Philip Porado

Underwriting margins for reinsurers will likely grow by an average four percentage points during 2023, said a new report from Fitch Ratings. Key factors for the increases are significant price rises, tighter terms and conditions, as well as the withdrawal…

Water damage in basement caused by sewer backflow News ClaimsInsuranceMarkets / Coverages

Who’s responsible for 20 years of sewer backups?

January 16, 2023 by Jason Contant

British Columbia’s Civil Resolution Tribunal (CRT) has dismissed a condo unit owner’s request for $50,000 in punitive damages following sporadic sewer backups over a 20-year period. But the tribunal awarded the owner $3,000 for loss of enjoyment of his unit.…

Icicles hanging from a roof during winter News ClaimsInsurance

Freezing rain causes power outages, forces closures across Atlantic Canada

January 16, 2023 by The Canadian Press

HALIFAX – Schools across much of Atlantic Canada are closed today as a sprawling winter storm continues to linger over the region. Rainfall and freezing rain warnings remain in effect for all of New Brunswick and P.E.I., and most parts…

House fire destroys building News ClaimsInsuranceRisk

Where Ontario’s 2022 fire-related deaths ranked

January 13, 2023 by Philip Porado

Ontario’s 133 fire-related deaths during 2022 were the highest in more than 20 years, the province’s Fire Marshal Jon Pegg said in a Jan. 3 tweet. In comparison, 2021 saw 124 fire-related deaths. There were 115 fire-related deaths in 2020…

Sealing the M&A deal with a handshake News AnnouncementsAppointmentsBrokersCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Industry veteran joins Westland following acquisition

January 13, 2023 by Jason Contant

Industry veteran Doug Morrow has joined Westland Insurance as its new vice president of commercial insurance for Alberta, the brokerage announced earlier this week. Most recently president and CEO of Excel Insurance Group, Morrow joined Westland as vice president, commercial…

Figurines of six businesspeople examining a concrete globe News BrokersCatastrophesClimate ChangeCommercial LinesInsuranceRisk

Which risks will trouble the globe in 2023?

January 13, 2023 by Alyssa DiSabatino

The cost-of-living crisis poses the biggest worldwide risk in 2023, according to findings in the World Economic Forum’s Global Risks Report 2023.  Two years from now, experts expect the cost of living will still be the number one risk on…

Economists are expecting a mild recession in Canada. News Earnings / RatingsEmploymentInsuranceRisk

Bank economists see mild recession likely ahead despite surprising resilience

January 13, 2023 by The Canadian Press

TORONTO – Big bank economists say the surprisingly resilient economy is likely headed for a mild slowdown in the year ahead, but that recent events show how difficult it is to predict the future. Speaking at an Economic Club of…

Provincial flag of Alberta News BrokersCommercial LinesConstructionInsuranceLegislation / RegulationMarkets / CoveragesRisk

How an Alberta election may impact decisions on captive insurance

January 12, 2023 by Philip Porado

Companies looking at the benefits of setting up an Alberta captive insurance company appear to be taking a ‘wait-and-see approach’ with respect to tax treatment. At the moment, the province’s tax authorities have indicated captives will be treated the same…

Shot of a stressed businesswoman with headache in the office. News BrokersCatastrophesClaimsClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

Hard market “fatigue” setting in, P&C industry survey suggests

January 12, 2023 by David Gambrill

Hard market fatigue is starting to become an issue for Canada’s property and casualty insurance industry, and several industry professionals are worried ongoing capacity and pricing issues could invite government intervention down the road. “We will continue to have many…