Canadian Underwriter


Business for sale sign.
News BrokersEmploymentInsuranceLegislation / Regulation

Budget proposals on business sales could affect brokerage owners

March 30, 2023 Philip Porado

The big deal for Canada’s P&C insurance industry in 2023’s federal budget was a $31.7 million commitment over three years to protect households at high risk of flooding and without access to adequate insurance. But there was some less-noticed news.

Computer monitor screen displaying a padlock
News BrokersClaimsCommercial LinesInsuranceMarkets / Coverages

How insurers are deliberately addressing silent cyber

March 30, 2023 by Jason Contant

Cyber insurers are now deliberately addressing silent cyber coverage in insurance policies, a Marsh executive said Wednesday at NetDiligence’s Cyber Risk Summit in Toronto. “With property [insurance policies]…I’m not seeing silent cyber anymore. I’m seeing very purposeful underwriting,” Karen Continenza,

Economies worldwide are becoming more fragile and prone to crisis
News BrokersClaimsCommercial LinesInsuranceLegal

Will fragile economy make it harder for brokers to sell D&O?

March 28, 2023 Philip Porado

A double-whammy of negative pricing shifts and claims uncertainty is hitting the Directors and Officers (D&O) insurance segment in the U.S., said a recent report from Fitch Ratings. It’s happening at a time when Canadian D&O lines are seeing some

Businesswoman breaking through a wall to represent critical mass.
News BrokersInsuranceTechnology

Why brokers say APIs must reach critical mass

March 27, 2023 David Gambrill

For the long-sought application programming interface (API) tech solution to truly benefit the P&C insurance process, brokers stress, it’s important to reach critical mass. Without that, APIs wind up being just one more of many solutions brokers must incorporate into

Consulting on an insurance policy
News BrokersInsuranceMarkets / Coverages

Brokers, insurers respond to 2023 Ontario budget

March 24, 2023 by Jason Contant

Ontario’s broker association is glad to see auto insurance as well as enhancing Ontario’s emergency response remains on the provincial government’s agenda.  In its 2023 Ontario Budget, the government said it will “continue to make progress on previous commitments, including

Dollar vanishing to represent loss ratios.
News BrokersClaimsCommercial LinesInsurance

Can cyber coverage recover from past high loss ratios?

March 20, 2023 Jason Contant

The Canadian cyber market in general has suffered some “pretty bad loss ratios in the last couple of years,” said Jack Bottomley, senior consultant for cybersecurity with KPMG in Canada. Not long ago, the industry saw its cyber loss ratio

Sparking fiberoptic wires representing high speed data connection
News BrokersInsuranceTechnology

What’s new with API links between broker and carrier systems?

March 17, 2023 David Gambrill

Before the pandemic, brokers started work on a breakthrough application programming interface (API) tech solution, designed to improve communication between a broker BMS and insurance companies’ back-end systems. Where do we stand on this project to date? It’s been a

Computer screen overtaken by a cybercriminal
News BrokersClaimsCommercial LinesInsuranceRiskTechnology

How to make a profit on cyber coverage

March 16, 2023 Jason Contant

How does the industry make cyber insurance a viable and profitable line of business going forward? “I would say cyber is a viable and profitable business line,” said Neal Jardine, global cyber risk intelligence and claims director with Boxx Insurance. “I

News AnnouncementsAppointmentsBrokers

Hub announces new practice leaders in Canada

March 16, 2023 by Alyssa DiSabatino

Hub International named two new senior executives to its Canadian operations this month.   Diane Stone has been appointed as education specialty practice leader in Canada.  The appointment reflects Hub’s strategic investments in insurance, benefits and retirement, risk management, and

Small business owners working at their company.
News BrokersInsuranceTechnology

Direct bringing competition to small-business space

March 15, 2023 Philip Porado

Direct writer TD Insurance has launched TD Insurance for Business, which will offer commercial property, commercial auto for business vehicles and commercial general liability coverage to Canadian small businesses. Coverage will initially be available in Ontario, followed by other provinces, according

Mess of wiring as new servers are being installed
News BrokersInsuranceTechnology

Where brokers and insurers stand on seamless data interfaces

March 14, 2023 David Gambrill

Working on application programming interfaces (API), the industry’s leading-edge technology for broker-carrier connectivity, is a lot like doing a home renovation project, said Michael Loeters, ProLink’s senior vice president of commercial insurance and risk management. “You think it’s going to

Hailstones the size of golf balls on the ground after a severe storm
News BrokersInsuranceMergers and Aqcuisitions

Hub acquires two western Canadian hail insurance providers

March 13, 2023 by Jason Contant

Hub International Limited has acquired two western Canadian crop hail insurance companies within a two-week period. Hub announced on Mar. 4 it had acquired Leduc, Alta.-based AG Direct Hail Insurance Ltd. It acquired Regina-based Canadian Hail Agencies Inc. on Feb