Canadian Underwriter

Segment
P&C Companies


Cutting Canadian dollars to represent price cuts
News BrokersInsuranceMarkets / Coverages

Why D&O price cuts may not be justified

February 15, 2024 David Gambrill

Softer market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s

Data analytics
News Commercial LinesInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data

E-scooter accidents are going to cause problems for Canadian cities because of vague insurance rules and lax enforcement.
News ClaimsInsuranceLegal

Lax e-scooter insurance spells trouble for Canadian municipalities

February 12, 2024 Philip Porado

Based on what’s taking place in other jurisdictions, lawsuits over accidents involving e-scooters will likely rise in Canada – particularly in Alberta, British Columbia and Ontario, where some municipalities permit their use on public streets, park trails, or sidewalks. Municipalities

Totalled car
News BrokersClaimsInsurance

What high interest rates mean when clients’ cars get totalled

February 9, 2024 Philip Porado

Ongoing economic problems — including rising prices, high interest rates and stagnant wages — are creating problems for some insureds whose cars get totalled. The situation’s most acute for clients who experienced financial problems during the pandemic and bought used

Car thief with flashlight
News ClaimsClaims CanadaInsuranceRiskTechnology

Feds devote $28M to beef up fight against stolen car exports

February 8, 2024 The Canadian Press

OTTAWA – The federal government is earmarking $28 million in new money to help fight the export of stolen vehicles. The Liberal government said Wednesday the money will give the Canada Border Services Agency more capacity to detect and search

Flooded out house
News CatastrophesClaimsClimate ChangeInsurance

Insurers bring Cat claims in-house: How independent adjusters adapt

February 7, 2024 Jason Contant

Some major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future

Accident between an e-scooter and a car.
News ClaimsInsuranceLegal

What types of injuries happen when e-scooters collide with cars?

February 6, 2024 Philip Porado

As you might expect, roadways and especially intersections are the most common places for accidents involving e-scooters that lead to claims and lawsuits. “It’s difficult when a motor vehicle [is] following the rules of the road and, all of a

Lithium-ion batteries are proving to be serious fire hazards
News ClaimsInsuranceLegal

Lithium-ion batteries leading to deadly fires – and lawsuits

February 5, 2024 Philip Porado

Canadian property and casualty insurers may need to review their exposure to e-scooter claims, based on fresh claims emerging in the courts. A Vancouver woman is suing several makers of e-bikes and e-scooters following an apartment fire in 2022 in

Business calculations
News ClaimsClaims CanadaInsurance

Regulator revokes healthcare provider licence for insurance fraud 

January 29, 2024 by Jason Contant

Ontario’s financial services regulator has revoked the healthcare service provider licence of a Markham clinic and imposed administrative penalties against the clinic and two individuals in connection with fraudulent billing practices.  The Financial Services Regulatory Authority of Ontario (FSRA) revoked

Aerial view of homes flooded by rainfall
News CatastrophesClaimsClaims CanadaInsuranceMarkets / Coverages

Why personal property results should concern insurers

January 26, 2024 by Jason Contant

Even though overall financial results for the Canadian P&C insurance industry were only slightly worse in 2023 compared to the previous year, personal property lines should raise concerns for underwriters, according to a new report from the Property and Casualty

Food delivery driver in action
News BrokersClaimsInsuranceLegal

How accident claims hit rideshare drivers’ personal auto policies

January 26, 2024 Philip Porado

There seems to be a disconnect between drivers and their insurers about the ability to access personal auto coverage when driving for food delivery or rideshare companies like Uber, Lyft and others. While there’s no hard data to quantify a

Magnifying glass looking at interest rates
News InsuranceMarkets / Coverages

Bank of Canada holds key interest rate, signals shift toward rate cut talks

January 25, 2024 Nojoud Al Mallees – The Canadian Press

The Bank of Canada is turning its attention to when it may be able to start cutting interest rates, governor Tiff Macklem said Wednesday as he announced the central bank’s decision to hold its key rate at five per cent.