Canadian Underwriter


The McDougall Creek wildfire in West Kelowna, BC. News CatastrophesClaimsClimate ChangeInsuranceRestoration

Night once brought firefighting reprieve, but no longer, Canadian study shows

March 13, 2024 by Brenna Owen - The Canadian Press

BRITISH COLUMBIA — The darkness of night has traditionally signalled reprieve for wildland firefighters, but a new Canadian study shows that’s changing, and drought is the driving force. The availability of bone-dry fuels is the key mechanism promoting extreme fire…

Hourglass, stopwatch and clock floating in blue water News ClaimsCommercial LinesInsuranceLegalRisk

Paid the claim? No need to re-appraise after limitation period, court says

March 12, 2024 by Alyssa DiSabatino

An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled.  “An admission of liability to pay on the part of an insurer…

The Fraser Valley in B.C. after flooding on Nov. 21, 2021 News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Federal disaster aid for Fraser Valley floods, landslides taking too long: B.C. MP

March 12, 2024 by Mia Rabson - The Canadian Press

The federal government estimates it will need to pay almost $3.4 billion for its share of the disaster recovery bills for flooding and landslides that devastated British Columbia’s Fraser Valley in November 2021. But more than two years after that…

Good listener boss, listen and accept all opinion, suggestion or customer feedback concept, smart businessman News InsuranceLegislation / Regulation

FSRA board director defends principles-based regulation

March 12, 2024 by David Gambrill

Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed…

Quantum computing could be a game changer for the insurance industry News InsuranceTechnology

What quantum computing could mean for insurance

March 12, 2024 by Jason Contant

What will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such…

Blizzard in city. Winter weather. Deep snow News CatastrophesClaimsClimate ChangeMarkets / Coverages

What Western Canada’s deep freeze cost insurers

March 11, 2024 by David Gambrill

Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the figure Monday, which is based on industry claims totals…

News CatastrophesClaimsClimate ChangeCommercial Lines

‘Clean slate’ to reshape B.C. wine industry, after climate-related catastrophes

March 11, 2024 by Brenna Owen - The Canadian Press

The heart of British Columbia’s wine industry is reeling after suffering a litany of climate-related hits, resulting in two years of crop losses in the southern Interior. Record-breaking heat. Wildfires and smoke that repeatedly contaminated grapes. A destructive cold snap…

Rideshare driving checking on his app to get a new customer News BrokersClaimsInsuranceLegal

Do gig-driver clients have the right auto coverage?

March 11, 2024 by Philip Porado

With accident claims up sharply post-pandemic, transportation network companies (TNCs) like Uber, Lyft and others are aggressively managing the insurance coverage they offer to gig drivers to ensure they have a handle on fraud. “You’re going to get some claims…

News BrokersInsurance

Why your clients may want to change their auto coverage now

March 11, 2024 by Alyssa DiSabatino

There’s a 37% chance your clients are making changes to their driving routines, and that means they may need to update their auto coverage, according to a recent survey by RatesDotCa.   Canadians who are planning to make changes to…

Discussing financial results News ClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / CoveragesTechnology

How Aviva Canada is handling personal lines’ pressures

March 8, 2024 by Jason Contant

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up…

Two companies signing an agreement to merge News BrokersInsurance

Two firms complete Ontario acquisitions

March 8, 2024 by Philip Porado

BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides…

Home with truck outside News CatastrophesClaimsInsuranceRisk

What insurers can expect from FSRA’s review of home insurance claims

March 8, 2024 by Alyssa DiSabatino

Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm.  Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,…