Canadian Underwriter

Segment
P&C Companies

News ClaimsEarnings / RatingsInsurance

Canadian P&C industry’s financial results take a turn for the better

June 18, 2021 by David Gambrill

Canada’s property and casualty insurance industry reported a much sunnier financial picture in 2021 Q1 than it did during the same time last year, according to a recent quarterly report by the Property and Casualty Insurance Compensation Corporation (PACICC). Financial

News BrokersInsuranceRisk

Two things you need to explain to your clients

June 16, 2021 by David Gambrill

Risk and insurance professionals need to address two common client misunderstandings about how the property and casualty insurance industry works, a risk professional suggested to Canadian Underwriter Tuesday. First, clients may not fully understand the interconnectedness of the P&C industry,

The small town of Okotoks was hit hard by the June floods of 2013, with the river valley rushing and raging through wiping out pedestrian bridges, campgrounds, river banks and pathways.
News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Progress report: Canada-wide flood mapping is well underway

June 16, 2021 by Greg Meckbach

A nationwide estimate of coastal, pluvial, and fluvial flood hazard is one part of the ongoing effort to come up with a national approach to insuring or re-locating homes at high risk of flood, a federal government official suggests. Flood

News Insurance

IBC elects Allstate Canada president and CEO to lead its board

June 16, 2021 by Jason Contant

Ryan Michel, president and CEO of Allstate Insurance Company of Canada, has been elected chairman of Insurance Bureau of Canada (IBC)’s board of directors. Michel has more than two decades of industry experience. He is accountable for the Allstate Canada

News AdjustersClaimsInsuranceLegalRestoration

A home under renovation isn’t necessarily “under construction:” Appeal Court

June 15, 2021 by David Gambrill

A home under renovation doesn’t mean it is “under construction,” Ontario’s Appeal Court has ruled, rejecting an insurer’s interpretation of its home insurance policy exclusion. In Tataryn v. Axa Insurance Canada (now Intact Insurance), Susan Tataryn’s Ottawa property served as

Celebration at work
News Insurance

How to convince your clients that buying insurance isn’t a waste of money 

June 15, 2021 by Jason Contant

One of the biggest challenges for the insurance industry is convincing policyholders that they haven’t wasted their money if they constantly pay premiums but don’t have a claim.  To overcome this challenge, insurers should help policyholders celebrate the fact that

News ClaimsClaims CanadaInsuranceRestoration

Restoration firms beware: Did clients authorize payment for your work?

June 14, 2021 by David Gambrill

A recent flood damage claim in B.C. speaks to the importance of getting in writing from clients exactly what restoration services have been authorized for payment, be it a repair or a full investigation into the cause of the water

News Insurance

Look back, but not too far: Why some perils need a new approach 

June 14, 2021 by Jason Contant

The insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently.   “When we’re looking at recent events, including the 2020

News Insurance

Intact agrees to sell former RSA operation for $1.26 billion

June 14, 2021 by Greg Meckbach

Less than two weeks after the takeover of RSA plc closed, the insurers who bought RSA are now agreeing to sell RSA’s former operation in Denmark. At the moment, Toronto-based Intact Financial Corp. owns half of Codan Forsikring A/S’s Danish

News Insurance

Second auto insurance rebate coming in B.C. 

June 14, 2021 The Canadian Press

VICTORIA – A second insurance rebate is coming for British Columbia drivers thanks to lower claim costs due to fewer crashes during the COVID-19 pandemic.   The government says the Insurance Corporation of B.C. will begin distributing rebates averaging $120 starting

News AdjustersClaimsInsuranceLegal

Estimator’s COVID dilemma: Photos of auto damage not enough, in-person visit not allowed

June 11, 2021 by David Gambrill

It’s an auto insurance estimator’s Catch-22. A B.C. small claims tribunal recently downplayed expert evidence based on photos taken in an auto collision shop because the estimator didn’t conduct an in-person inspection of the vehicle — even though pandemic lockdown

News Insurance

How to be really customer-centric: Lessons from the global insurance market

June 11, 2021 by Jason Contant

Canada’s property and casualty insurance industry should look towards the global insurance market for some insights about how to increase take-up rates, particularly among marginalized and low-income people, speakers said Thursday at the CatIQ Connect virtual conference. In the global