Canadian Underwriter

Segment
Underwriting

News Insurance

Using your personal device for work? Why that matters to cyber insurers

January 10, 2022 by Jason Contant

Insurers need to consider the hybrid workforce and employees using personal devices when reviewing a cyber risk, a managing general agent says. “Multi-factor authentication is critical as… employees access work email and networks remotely, sometimes even through a web application

News ClaimsClaims CanadaCommercial LinesInsuranceLegalReinsuranceRestoration

Excess of loss case should be heard in Canada, not New York: court

January 10, 2022 by David Gambrill

Several excess insurers have lost their bid to have a lawsuit take place in New York instead of Ontario in a mining insurance case brought before the Ontario Superior Court of Justice. Nine of 22 excess insurers argued that the

News Insurance

Is cyber insurable?

January 7, 2022 Greg Meckbach

Cyber exposure is a bit of a moving target, and efforts to quantify the risk are challenging some of the underwriters in the business. “Cyber is fairly unique in that you are playing against a human adversary,” said Tim Zeilman,

News CatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / Coverages

Three reasons Fairfax predicts a continuing hard market

November 5, 2021 by Greg Meckbach

As carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based

News Insurance

The good and bad news for commercial insurance

October 1, 2021 by Jason Contant

There’s good and bad news when it comes to commercial lines in the Canadian property and casualty insurance industry. The good news is there’s encouraging signs the commercial market is stabilizing, said Don Forgeron, president and CEO of Insurance Bureau

News ClaimsClaims CanadaEarnings / RatingsInsurance

PACICC unpacks industry-wide P&C financial results

September 30, 2021 by Greg Meckbach

The industry made a record profit in homeowners’ insurance and overall premiums are up, but 20 Canadian insurers are losing money while dozens recently lost market share, an economist with Property and Casualty Insurance Compensation Corporation observes. “The healthy insurance

News Insurance

UK-based MGA expands into Canada

September 23, 2021 by Jason Contant

London, United Kingdom-based managing general agent Landmark Underwriting has expanded into Canada with the opening of an office location in Toronto. Landmark (Canada) Ltd. o/a Landmark Underwriting recently obtained the Registered Insurance Brokers of Ontario (RIBO) licence and is now

News CatastrophesClaimsClaims CanadaEarnings / RatingsInsurance

Why the hard market could be unsustainable

September 21, 2021 by Greg Meckbach

The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020,

News Insurance

2021 set to be record year for M&A insurance: report

August 31, 2021 Canadian Underwriter Staff

This year will be a record year for mergers and acquisitions insurance, a recent report by global independent broker BMS Group estimates. The inaugural Private Equity, M&A and Tax Insurance Report, released in May, found that while the COVID-19 pandemic

News Technology

Banking data should not be used for underwriting insurance: open banking committee

August 5, 2021 by Greg Meckbach

Open banking should not be used for underwriting insurance, a federally appointed committee said Wednesday. In its final report issued Aug. 4, the Advisory Committee on Open Banking recommended that the “initial phase” of open banking, in Canada, be up

Front view of red SUV emergency braking to avoid car crash
News InsuranceLegislation / Regulation

Why this auto insurer will stop discount for autonomous emergency braking

July 27, 2021 by Greg Meckbach

Nova Scotia motorists who purchase autonomous emergency braking systems will no longer qualify for a discount with one insurer as of October. In Nova Scotia, Aviva General Insurance Company has a 15% discount, to bodily injury and accident benefits insurance

News ClaimsInsuranceRiskTechnology

Look for AI to “hyper-personalize” customer experience in 3-5 years: Aviva exec

July 20, 2021 by David Gambrill

Hyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I