Canadian Underwriter

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Underwriting

News BrokersClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News CatastrophesClimate ChangeInsuranceReinsurance

Cat bonds starting to attract this type of investor

October 15, 2020 by Greg Meckbach

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,

News Technology

How you can cut down time spent searching underwriting manuals

October 5, 2020 by Greg Meckbach

Some brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting

News ClaimsClaims CanadaCommercial LinesConstructionEngineeringLegal

Appeal court dismisses lawsuit against Economical over additional insured endorsement

October 5, 2020 by Greg Meckbach

A solar energy developer has lost its appeal against Economical in a commercial coverage dispute regarding an additional insured, in which the policy wording referred to “liability arising out of the operations” of the insured. “Contractual insurance obligations and additional

News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceLegislation / RegulationRisk

‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

News InsuranceMergers and AqcuisitionsTechnology

The pandemic-induced change Intact says has ‘proven to work’

September 28, 2020 by Greg Meckbach

Insurers who sent most of their employees home to work have demonstrated remote access can indeed work — and even offer co-workers an opportunity to get to know each other’s families better — but it may be challenging over the

News CatastrophesInsuranceLegislation / RegulationRisk

Feds urged to consider backstop for ‘tail risks’ such as pandemic, quake and flood

September 25, 2020 by David Gambrill

Discussions around providing pandemic coverage in the future are highlighting the need to develop a Canadian federal government backstop for other serious “tail risk” events such as earthquakes, floods and wildfires, says the president of the Property and Casualty Insurance

News Insurance

What you need to do to get your client’s submission approved by underwriters

September 24, 2020 by Adam Malik

Brokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these

News ClaimsCommercial LinesEarnings / RatingsInsurance

Winners and losers of the COVID-19 quarter

September 24, 2020 by David Gambrill

Although COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one

News BrokersMGAs

Veteran brokers are seeing their first-ever hard market. What they need to know.

September 18, 2020 by Greg Meckbach

Brokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.

News Insurance

One thing an insurer will consider before investing in commercial surety bonds

September 17, 2020 by Jason Contant

Specific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior

News InsuranceLegislation / RegulationMarkets / Coverages

Why Uber Canada dropped Intact as its insurance provider

September 16, 2020 by Greg Meckbach

Ride sharing firm Uber Canada chose Economical as its insurance provider because Uber would not agree to Intact’s pricing, a senior Intact executive said Tuesday. “We had a very good relationship, we just couldn’t agree on the price,” Intact CFO