Canadian Underwriter

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Reinsurance


Aerial view of a residential district in Ontario
News Insurance

Canada’s most exposed insurance lines

May 31, 2022 by Jason Contant

Exposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices

Container ship, heavily loaded, at sea.
News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

War and other factors loom over shipping sector: report

May 27, 2022 Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

Delta flooding after hurricane.
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How to speed up claims response for NatCats

May 25, 2022 Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

Gathering the data for underwriting a risk.
News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsMGAsRisk

Where have all the good underwriters gone?

May 12, 2022 Gloria Cilliers

For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than

Woman looking at horizon through binoculars.
News BrokersClaimsCommercial LinesInsuranceLegislation / RegulationRiskTechnology

4 insurance industry trends to watch

May 11, 2022 Tara Kelly

In this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in

Disco ball.
News ClaimsClaims CanadaCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesPodcastProductsRisk

What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising

Alberta oil sands facility.
News AnnouncementsInsuranceLegislation / RegulationReinsurance

Insurance Act changes may help Alberta as insurers retreat from oil and gas

May 4, 2022 Philip Porado

Major insurers continue to announce they’ll cease issuing coverage to the oil and gas industry, which remains economically critical to Alberta and other Canadian provinces – and is poised to experience a demand boost as Europe seeks alternatives to Russian

Driver handing over a license.
News BrokersClaimsCommercial LinesInsuranceLegalMarkets / CoveragesMGAsProductsReinsuranceRisk

Beware the tax implications of unlicensed insurance

May 3, 2022 Jason Contant

If you’re looking to place a risk through an insurer that’s not licensed to write business in Canada, it’s important to understand the requirements around filing federal and provincial taxes, as well as special broker licenses. Although direct placement with

Empty desk waiting for a new executive.
News AnnouncementsAppointmentsCommercial LinesInsuranceMarkets / CoveragesProfessional DevelopmentReinsurance

Everest makes key promotion and appoints chairman

April 28, 2022 Canadian Underwriter Staff

Everest Re Group’s reinsurance division, Everest Reinsurance, has promoted Scott Paddington to chief agent and chief underwriting officer of Everest Reinsurance Canada. It also appointed Russ Lewis to chairman of Everest Reinsurance Canada. Both now report to Jill Beggs, head

Open coffee jar with ground coffee
News BrokersEarnings / RatingsInsurance

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming

Bear having a look out of his cave
News AdjustersBrokersEmploymentInsurance

Leaving hibernation: What’s next for P&C industry?

April 21, 2022 by David Gambrill

Look for Canada’s P&C industry to fine-tune the hybrid workplace model over the next six months, as the country starts to ease pandemic restrictions, industry execs say. The tinkering will involve achieving the best balance between meeting in person with

Bombed out building in Ukraine painted in flag's colours.
News AdjustersCatastrophesClaimsCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

Ukraine war insured losses could outstrip 9-11

April 20, 2022 Philip Porado

When adjusters are finally able to assess the damage stemming from the war in Ukraine, costs may exceed the Sept. 11, 2001 terror attacks as the largest industry-wide insured loss, across all classes of business, in history, said a specialty