Canadian Underwriter


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News ClaimsCommercial LinesInsuranceMarkets / Coverages

The state of the cannabis insurance market in 2023 

May 30, 2023 by Jason Contant

Even though inflation cooled to 4.3% in March from a high of 8.1% last summer, its effect is still being felt on personal and commercial lines alike.  The cannabis insurance market is no exception. Carriers across the board are looking

Purchasing cannabis with a credit card
News ClaimsClaims CanadaCommercial LinesInsuranceLegislation / RegulationMarkets / Coverages

What’s new with cannabis insurance regulations?

May 18, 2023 by Jason Contant

One MGA is questioning a regulatory change in Ontario that dropped a mandatory requirement for licensed producers (LPs) of cannabis to hold $15 million in product recall insurance and instead raised the commercial general liability requirement to that amount. In

Purchasing cannabis with a credit card
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / Coverages

How is the cannabis insurance market faring? 

May 9, 2023 by Jason Contant

Four-and-a-half years after recreational marijuana use was legalized in Canada, cannabis companies continue to face a number of challenges, including insolvency, consolidation and low or flat growth, according to a recent report from EY Canada. “Established/mature markets — including Canada,

Steve Masnyk, executive director of CAMGA, appearing on What's on Dec?
News Podcast

What’s on Dec? | Episode 6 | MGA perspectives

April 25, 2023 by Canadian Underwriter

MGAs used to be “operating in the shadows” but that has changed since the formation of the Canadian Association of Managing General Agents (CAMGA) two-and-a-half years ago. In our sixth What’s on Dec? podcast, CAMGA executive director Steve Masnyk shares

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News BrokersInsuranceLegalLegislation / RegulationRisk

What the industry says about regulator’s draft corporate culture guidance

March 7, 2023 David Gambrill

Canada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing

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News AssociationsBrokersInsuranceMGAsTechnology

How CSIO’s forging consistent data standards interpretation

March 6, 2023 David Gambrill

The Centre for Study of Insurance Operations (CSIO)’s mandate has evolved to ensure consistent interpretation of the property & casualty (P&C) insurance industry’s data standards by insurance companies and technology vendors. “In developing the multi-year strategic plan, CSIO’s board of

Complaint file
News AnnouncementsAssociationsInsuranceMGAs

New ombudservice to handle complaints against MGAs

March 3, 2023 by Jason Contant

The Canadian Association of Managing General Agents (CAMGA) has created an ombudservice to act as an adjudicator of queries and allegations made against the association’s members. CAMGA has partnered with Barb Szychta as the independent MGA ombudservice, the association said

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News Commercial LinesInsuranceMarkets / CoveragesMGAsProfessional Development

How MGAs are dealing with underwriter shortages

December 12, 2022 by Jason Contant

Canadian P&C managing general agencies (MGAs) are dealing with a lack of underwriters due to increased demand for products and services combined with traditional staff turnover, an industry executive told Canadian Underwriter. “MGAs are, from what we see, the fastest

Boardroom in modern office
News BrokersCommercial LinesInsuranceMarkets / CoveragesMGAsRisk

The real reasons behind Canada’s softer D&O market

December 9, 2022 Philip Porado

“Expanded insurer appetite and competition in the primary space,” as well as new capacity in excess layers, helps explain a softening of Directors and Officers (D&O) insurance pricing and limits expansions in Canada, says a recent quarterly market insights report

Intellectual property concepts
News ClaimsCommercial LinesInsuranceLegalMarkets / CoveragesMGAsProducts

Why your SME client needs intellectual property ‘pursuit’ coverage

November 24, 2022 by Jason Contant

Your small and medium-sized enterprise (SME) clients need to consider intellectual property (IP) ‘pursuit’ coverage to allow them to take on large corporations to protect their products and market share, a specialist insurance provider told Canadian Underwriter. A business’s ability

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News BrokersCatastrophesClimate ChangeCommercial LinesConstructionInsuranceMarkets / CoveragesMGAsReinsurance

Covering larger risks? Why subscriptions may be the way of the future

November 18, 2022 Philip Porado

As claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George

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News BrokersClaimsCommercial LinesInsurance

Are your clients’ short-term rental properties properly insured?

November 9, 2022 George Longo

With COVID-19 safety protocols all but eliminated in Canada, many people are travelling and need places to stay. As an alternative to hotels, some are taking short-term rental spaces through services like Airbnb, VRBO and other online platforms. Now that