Canadian Underwriter

P&C Companies

Auto thief attempting to steal a vehicle
News ClaimsClaims CanadaInsurance

How auto theft claims severity is trending

May 16, 2024 by Jason Contant

Canada’s auto theft crisis appears to be getting worse, with new data from Insurance Bureau of Canada (IBC) showing auto theft claims topping $1 billion for the second year in a row. In 2023, the cost of insurance claims for

Trophy representing winning in business
News BrokersInsurance

How carriers can win coverage placements from brokers

May 16, 2024 Philip Porado

As some insurance hard markets show hints of softening — particularly in commercial specialty lines — brokers answering Canadian Underwriter’s annual National Broker Survey say the technical aspects of an insurer’s offering play a big role in decisions about where

Empty auto parts warehouse shelves
News BrokersClaimsInsurance

Two new things keeping auto clients in rental cars

May 13, 2024 Philip Porado

Shortages of auto repair techs and specialized parts for newer cars are combining to drag out repair times for personal auto clients. That’s causing delays for insurers looking to close out auto accident claims, plus it’s keeping more drivers in

Calculating auto insurance costs
News ClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / Coverages

Intact weighs in on Alberta auto reform

May 10, 2024 by Jason Contant

Canada’s largest insurer is calling the actuarial analysis contained in an Alberta government-commissioned report on auto reform “deeply flawed,” aligning the company with concerns raised by Insurance Bureau of Canada (IBC).  The Oliver Wyman actuarial report concluded a British Columbia

Destroyed bicycle illustration.
News ClaimsInsurance

What got a BC cyclist’s accident claim dismissed?

May 10, 2024 Philip Porado

A cyclist who took action against an insurer, rather than the driver of the motor vehicle involved in an accident, recently saw his case dismissed. The small claims dispute before British Columbia’s Civil Resolution Tribunal (CRT) noted that on October

Financial business statistics with bar graph and charts
News ClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

How Intact and BrokerLink performed in 2024 Q1

May 8, 2024 by Jason Contant

Intact Financial Corporation (IFC) subsidiary BrokerLink “remains well on track to achieve its ambition of $5 billion in annual premiums by 2025,” IFC CEO Charles Brindamour said during the insurer’s 2024 Q1 earnings call Wednesday. In 2023, BrokerLink surpassed $3.5

A fourplex destroyed by a wildfire at Sturgeon Lake Cree First Nation.
News Insurance

Intact’s approach to help Canadians manage wildfire risk

May 7, 2024 by Jason Contant

Intact Financial Corporation (IFC) has contracted with an American wildfire risk management company to provide policyholders in Alberta and British Columbia with wildfire loss prevention and suppression services for their homes when threatened by active wildfires. In preparation for the

Interior of a city transit bus
News ClaimsInsuranceLegal

How physics impacts injuries if transit busses crash

May 6, 2024 Mark Paquette and Brittany Sinclair, 30 Forensic Engineering

When a motor vehicle collision involves a public transit bus, many factors play into reconstructing injuries that may have occurred. And those factors centre around the differences between transit vehicles and conventional vehicles, such as passenger cars or light trucks.

Calculating financial results
News CatastrophesClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / Coverages

2023 investment income saves insurers’ bacon

May 2, 2024 by Jason Contant

A very strong fourth quarter in 2023 turned an ‘average at best’ year into quite a good year for Canada’s P&C insurance companies, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC).  “Reflecting on the

Thief looking to break into a car
News ClaimsClaims CanadaInsuranceMarkets / Coverages

Multiple vehicle thefts: What insurers are seeing

May 1, 2024 by Jason Contant

Canada’s auto theft crisis remains in full swing, with some insurers reporting cases of consumers having the same vehicle make and model stolen multiple times. “This isn’t just an isolated case,” says Daniel Ivans, a RatesDotCa insurance expert and licensed

Eating while driving can cause drivers to crash.
News InsuranceMarkets / Coverages

What’s taking Canadian drivers’ eyes off the roads?

April 29, 2024 Philip Porado

Canada’s well-worn roads are getting more dangerous. Nearly half of Canadian drivers (46%) in a recent online survey say the nation’s roads are less safe today than they were a year ago. The study, conducted by Travelers Canada from Jan.

Burnt trees in Saprae Creek near Fort McMurray following 2016 wildfire.
News AssociationsCatastrophesClaimsClaims CanadaInsuranceMarkets / CoveragesRestoration

Is Fort McMurray still insurable?

April 26, 2024 by Jason Contant

Editor’s note: An earlier version of this article incorrectly stated that the 2016 Fort McMurray wildfire cost nearly $6 billion in insured damage, citing 2016 loss totals for that year from Insurance Bureau of Canada. However, the $6 billion total