Segment
P&C Companies
When will Canada’s insurers reach a tipping point over NatCats?
January 17, 2024 Philip PoradoIf insurers’ recent response to drastic storm and fire losses recorded in many parts of the U.S. are any harbinger, some Canadian regions may soon grapple with a future in which standard market insurers simply walk away. It’s already happening…
Your Canadian clients’ top business risks in 2024
January 17, 2024 by Alyssa DiSabatinoCanada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk,…
How brokerage mergers could create tax benefits
January 15, 2024 Philip PoradoTax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments, Yakoob Vayani, a partner at KPMG in Canada in Indirect Tax, Advisory, told…
Can higher lodging costs cut restoration losses?
January 12, 2024 Philip PoradoInsurers looking to reduce home restoration claims costs should find ways to avoid tearing out walls, flooring, rugs, trim and other major construction components. One insurer’s launched a program to do just that. The approach will lead to a “1%…
What the industry learned from a 20-year-old wildfire
January 11, 2024 Jason ContantThe devastation of British Columbia’s Okanagan Mountain Park wildfire in 2003 was unlike anything Janna Smart had adjusted before. “It was full of raw emotion, chaos, destruction, and limited experience in handling a wildfire in a densely populated area. It…
MPI’s Top 5 auto fraud claims of 2023
January 2, 2024 by Jason ContantA customer who claimed amnesia following an auto collision and another who said their symptoms were so severe they were unable to work were among Manitoba Public Insurance’s (MPI) Top 5 fraud claims of 2023. Every year, it’s estimated auto…
2024 Executive Outlook | Shelley Willick, Sandbox Mutual Insurance
December 28, 2023 Canadian Underwriter StaffShelley Willick, president, CEO, Sandbox Mutual Insurance In many ways, 2024 will be similar to 2023 for the Canadian P&C insurance industry. We will continue to face increased consumer expectations, climate change, urbanization, and inflation, along with increased regulation and…
2024 Executive Outlook | Rob Wesseling, Co-operators
December 28, 2023 Canadian Underwriter StaffRob Wesseling, President, CEO, Co-operators The growing protection gap, the affordability of insurance, and our ability to continue providing adequate insurance protection will continue to be a critical issue in 2024. The growing risks from climate change affected Canadians from…
2024 Executive Outlook |Mathias Sommer, Zurich Canada
December 28, 2023 Canadian Underwriter StaffMathias Sommer, COO, Zurich Canada As we look ahead to 2024, leveraging data and digitalization will be critical in meeting rapidly evolving customer expectations. Today’s consumer wants a seamless, simple, digital-first experience and solutions helping them to understand and manage their…
2024 Executive Outlook | Greg Purdy, Rival Insurance Technology
December 27, 2023 Canadian Underwriter StaffAt a high level, we expect 2024 to be a challenging year for the industry. We have no clear picture on where interest rates may land when approximately half of Canadian mortgages renew in 2025, and we have historic levels…
2024 Executive Outlook | Celyeste Power, Insurance Bureau of Canada
December 27, 2023 Canadian Underwriter StaffCelyeste Power, president, CEO, Insurance Bureau of Canada Canada’s political and regulatory environment is evolving, creating both opportunities and challenges for the industry. We’re seeing a growing trend toward sweeping regulations, new taxation and increased government intervention. We’ve seen regulators’…
2024 Executive Outlook | Dave Partington, Gallagher Global Brokerage – Canada
December 27, 2023 Canadian Underwriter StaffDave Partington, CEO, Gallagher Global Brokerage – Canada Canada’s property and casualty insurance industry will start to see the return on investments in artificial intelligence in 2024. Many organizations have invested heavily to develop AI solutions that deliver benefits to…