Canadian Underwriter

Segment
Consumers


A filing cabinet drawer with a tag that says "claims" is opened and is holding stacks of brown envelopes.
News CatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / Coverages

How insurers narrowly avoided ‘catastrophic’ business interruption claims

December 6, 2022 by Alyssa DiSabatino

Business interruption (BI) and related losses from the coronavirus pandemic could have been ‘catastrophic’ for insurers had policy wordings not been precise enough to prevent massive payouts following court challenges, credit rating agency DBRS Morningstar says in a new commentary. 

Car accident on highway with ambulance responding
News Insurance

ICBC’s new approach to claims interactions with injured drivers

December 5, 2022 Dr. Donna Bain

The new Enhanced Care model put in place by the Insurance Corporation of British Columbia (ICBC) in Spring 2021 emphasizes proactive outreach to injured customers to help them recover, while also communicating about insurance benefits and processes. Enhanced Care changed

A clock with ticking red hands in front of a background of binary code rushing around the screen
News BrokersCatastrophesCommercial LinesInsuranceReinsurance

What do January reinsurance renewals have in store for property insurers?

December 5, 2022 by Alyssa DiSabatino

With January’s reinsurance renewal period quickly approaching, the impact of major cat events on property insurers remains to be seen, said a new report from Navacord brokerage Lloyd Sadd.  Catastrophic losses are making leading property insurers selective about the amount

Blue toy car in front of blurry stacks of coins
News BrokersClaimsInsurance

Ontario’s most expensive cities for car insurance

December 1, 2022 by Alyssa DiSabatino

Brampton is Ontario’s reigning champ for the city with the most expensive car insurance — 62.5% higher than the province’s average. That said, the city has become more affordable since 2020, when it was 123.5% more expensive than the rest

Discussing cyber insurance while using a laptop
News Commercial LinesInsuranceMarkets / CoveragesRiskTechnology

Is cyber insurance underwriting headed in the right direction?

November 29, 2022 by Jason Contant

New exclusions and strict requirements to obtain cyber insurance have dramatically improved the sophistication of underwriting processes, but one large consulting and advisory firm is questioning whether this is the right approach for the market to take. “[Chief information security

FSRA's in-office logo
News InsuranceLegislation / Regulation

How FSRA plans to tackle auto insurance health care provider fraud

November 28, 2022 by Alyssa DiSabatino

A new, two-year supervision plan for health service providers (HSP) aims to protect consumers’ rights by delivering supervision and education to higher risk auto insurance HSPs, according to Ontario’s insurance regulator. Higher risk service providers are defined as those “more

Covid-19 virus image
News AdjustersClaimsCommercial LinesConstructionEmploymentInsuranceRisk

Does an immuno-compromised adjuster have to return to field work?

November 23, 2022 The CIP Society, Insurance Institute of Canada

For almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a

A man sits at a computer desk with a notepad in hand. Another man, both in business clothes, is leaning over his shoulder and pointing at the notepad.
News BrokersInsuranceLive with CUMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Why being a good broker alone won’t cut it for ownership

November 23, 2022 by Alyssa DiSabatino

Want to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage

sea coast houses bracing for a hurricane
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeConstructionInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How hurricane losses will impact pricing and capacity

November 21, 2022 Philip Porado

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”

A man wearing a blue shirt sits with a laptop on his lap. On the screen is a padlock icon.
News BrokersCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

Cyber insurers’ appetites are shifting. Here’s what to expect…

November 21, 2022 by Alyssa DiSabatino

Canada’s ongoing hard market in cyber has seen most insurers capping their coverage at somewhere between $3-million and $5-million, experts observed in a Gallagher Talks session.   “We’re seeing exclusions for known [software] vulnerabilities [and] capacity restrictions as well,” said

A virtual screen shows the words intellectual property, along with a lightbulb, padlock, target, megaphone and other various icons
News BrokersClaimsInsurance

Organizations more willing to pay ransom for this type of data breach

November 18, 2022 by Alyssa DiSabatino

Ransomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation.  Organizations are less likely to pay a ransom when their

A red car has slid on the icy road and his into the freeway medium. A moderate traffic jam with two other white cars has occured
News BrokersClaimsInsuranceMarkets / CoveragesProductsRisk

Will inflation stop Canadians from buying winter tires?

November 17, 2022 by Alyssa DiSabatino

Even when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC).  However, brokers will be interested to know