Canadian Underwriter

Segment
P&C Companies

News AnnouncementsAppointmentsInsurance

Meet Zurich’s new chief risk officer for Canada

February 25, 2021 by David Gambrill

Sonia Kundi is Zurich North America’s new chief risk officer for Canada. She has joined the Zurich North America group risk management team, effective immediately, and reports to North America Chief Risk Officer Colleen Zitt. In addition to being a

News AnnouncementsInsuranceLegislation / Regulation

When Economical plans to hold final demutualization vote

February 25, 2021 by Greg Meckbach

An all-policyholders’ vote on demutualization is scheduled this spring, Economical Insurance announced this week. “The process for getting this meeting on the calendar is on track,” said John Bowey, chairman of Waterloo, Ont.-based Economical, in an update posted Feb. 22

News Insurance

Condo corporation insurance? Unit insurance? Too many condo owners don’t know the difference

February 24, 2021 by David Gambrill

Brokers in Quebec have ample opportunity to educate their clients about how condo insurance works, according to the results of a recent survey commissioned by Insurance Bureau of Canada. One key source of confusion may sound familiar to brokers elsewhere

News InsuranceMarkets / Coverages

Intact CEO’s forecast for auto rate relief in 2021

February 24, 2021 by Greg Meckbach

It could be up to a year before driving habits return to normal, but don’t expect many of your clients to pay less for auto insurance. Those were a couple of key takeaways from a recent Intact earnings call. “It

News ClaimsClaims CanadaInsurance

How much COVID business interruption claims could cost Fairfax

February 17, 2021 by Greg Meckbach

Business interruption claims arising from the COVID-19 pandemic are expected to cost Fairfax Financial Holdings Ltd. nearly Cdn$300 million. Toronto-based Fairfax released Feb. 11 its financial results for 2020, reporting US$669 million in COVID-19 losses across all of its insurers.

News InsuranceMergers and Aqcuisitions

Where Intact sits with the RSA acquisition

February 10, 2021 by Greg Meckbach

Now that Intact Financial Corp.’s deal to acquire a large chunk of RSA plc has been approved by both the federal Competition Bureau and RSA shareholders, Toronto-based Intact expects the deal to close by July and has more than two

News ClaimsClaims CanadaCommercial LinesInsurance

How much the second COVID wave will probably add to Intact’s claims costs

February 10, 2021 by Greg Meckbach

Intact Financial Corp. has now reserved $106 million for claims related to COVID-19, with $23 million of that booked during the last three months of 2020. Intact initially set aside $83 million in reserves for COVID-19 claims during the three

News ClaimsClaims CanadaCommercial LinesRiskTechnology

What the P&C industry is telling Wall Street about cyber risk

February 9, 2021 by Greg Meckbach

Commercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks

News AnnouncementsAppointmentsInsuranceTechnology

Accenture appoints lead for advancing cloud technology in Canada

February 5, 2021 by David Gambrill

To help Canadian organizations accelerate their digital transformations and rapidly become ‘cloud-first’ organizations, Accenture has appointed Jennifer Jackson as Cloud First Lead for Canada. “Jennifer plays a vital role as head of our technology practice in Canada,” Jeffrey Russell, president

News Insurance

IBC praises new towing guidelines in Ontario

February 5, 2021 by Jason Contant

Insurance Bureau of Canada (IBC) is applauding the Ontario Provincial Police (OPP) on its new towing services guidelines aimed at providing clear direction to tow operators. “These guidelines are another tool to help protect drivers and ensure that at the

News Technology

Telematics surcharges arrive for Ontario auto

February 5, 2021 by Greg Meckbach

Ontario motorists who choose usage-based insurance could now be hit with surcharges if telematics data shows they have risky driving behaviour. The Financial Services Regulatory Authority (FSRA) removed its UBI Guidance this past November, a FRSA spokesperson told Canadian Underwriter

News Insurance

2020 NatCats underscore need for insurers to collaborate with public sector: Aon exec

February 4, 2021 by David Gambrill

Globally, the COVID-19 pandemic may not have affected insurers’ balance sheets in the same way that weather-related disasters did in 2020, but the industry is now much more aware of the impact of multiple catastrophe scenarios unfolding at once, an