Canadian Underwriter

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Crowded airport lineup
News InsuranceProducts

Do flight delays boost travel insurance purchases?

August 11, 2022 Canadian Underwriter Staff

With travel demand on the rise in the wake of easing COVID-19 restrictions, a larger percentage of Canadians are opting for overseas journeys. The number of Canadian residents returning by air from abroad at kiosk-equipped airports totalled 901,300 in June

Piggy bank textured with Canadian flag isolated on white background.
News BrokersInsuranceProducts

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

Poles measuring high water marks in a lake
News CatastrophesCommercial LinesInsuranceMarkets / CoveragesProductsRisk

Was 2021 a high-water mark for P&C industry returns?

August 4, 2022 Glenn McGillivray

Despite turmoil from the ongoing COVID-19 pandemic that affected everything from the need to work remotely, auto premium rebates and the handling of Cat claims, to the availability and price of building materials and labour, Canada’s P&C insurers still managed

Golden Coins Increasing stacks with reflection in the mirror and growing green tree.
News BrokersInsuranceProductsRisk

Where to find recession-proof clients to help grow your business

July 28, 2022 by David Gambrill

Global recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t

Red Handle Rubber Stamper and You've Been Served text isolated on the table.
News ClaimsCommercial LinesInsuranceLegalProducts

Don’t forget to serve, even if the insurer already knows about the lawsuit

July 26, 2022 by David Gambrill

A claimant in a product liability case must still go through the formal process of serving notice in China of intent to sue a Chinese manufacturer, even if the defendant manufacturer was aware of the claim since 2019, had a

Arrows pointing to profit and loss as if it was a road sign.
News Commercial LinesInsuranceMarkets / CoveragesProducts

What’s to blame for P&C industry’s quarterly profitability decline?

June 23, 2022 Canadian Underwriter Staff

At first glance, 2022 Q1 results for Canada’s P&C industry would support the idea that high profits aren’t sustainable. Industry-wide return on equity dipped to 11.5% in 2022 Q1, compared to 19% in 2021 Q1. But the profitability decline stemmed

Stressed out person working from home.
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsProfessional Development

Yes, COVID-19 really did boost broker workloads

June 20, 2022 David Gambrill

While the pandemic created extra work for brokers, it also highlighted the value of the broker proposition, which includes, choice, advice and advocacy, according to Canadian Underwriter‘s 2022 National Broker Survey, which asked more than 250 brokers nationwide about challenges

Hipster on a bicycle representing the Millennial generation
News BrokersInsuranceProducts

What Millennials and Gen Z want when they buy insurance

June 17, 2022 Alyssa DiSabatino

Younger Canadians are accustomed to getting immediate results from their actions. Sending an e-transfer, text or e-mail means things happen in the blink of an eye, said Katy Fowler, personal lines hero at InsuranceHero. “We expect our internet to be

Robot holding a brain to represent artificial intelligence.
News ClaimsCommercial LinesInsuranceMarkets / CoveragesProductsReinsuranceRisk

How do you insure artificial intelligence?

June 15, 2022 Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

Cars on a robotic assembly line in a commercial facility.
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsRisk

Inflation creates need for brokers to revisit coverage levels with their clients

June 3, 2022 Philip Porado

Brokers are typically leading conversations about inflation-driven insurance value adjustments for commercial building owners and builders, said Bernard McNulty, chief agent and head of claims, Allianz Global Corporate Specialty. But, he added, clients also are contacting brokers to inquire about

Flooded warehouse full of floating cardboard boxes
News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesProductsRestoration

Why insureds might need parametric coverage alongside conventional policies

June 1, 2022 Megan Linkin

When Hurricane Ida made landfall on Aug. 29, 2021, a handful of parametric insurance policies in Swiss Re Corporate Solutions’ portfolio were affected and potentially triggered. By Sept. 1, all relevant data for determining if the hurricane’s winds met policy-defined

Disco ball.
News ClaimsClaims CanadaCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesPodcastProductsRisk

What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising