Segment
Underwriting
Why ICLR is heading West
April 19, 2024 Philip PoradoAs part of a partnership with Wawanesa Insurance, the Institute for Catastrophic Loss Reduction (ICLR) will set up a new ICLR Climate Resilience Centre in Winnipeg. Wawanesa is providing office space and operating funds for the new centre. The centre…
3 building blocks for using new commercial lines tech
April 11, 2024 Steve Whitelaw, Applied Systems CanadaTechnological breakthroughs in commercial lines are helping brokers win over Canadian business owners seeking insurance coverage. Brokers can do three things to stand out in this crowded, competitive market. They can standardize their data capture, simplify their quoting and submission…
Why this MGA is betting on carbon insurance
April 9, 2024 by Jason ContantSpecialist insurance provider CFC has entered the voluntary carbon market (VCM) with the launch of a carbon delivery insurance product that safeguards the purchase of carbon credits. VCMs are decentralized markets in which individuals or organizations buy credits to voluntarily…
Can farm insurance coverage be delivered online?
March 25, 2024 Alyssa Di SabatinoThe words ‘technology’ and ‘farm insurance’ aren’t always mentioned in the same breath. Historically, farm insurance providers do most of their business through offer and acceptance — sending either online or paper applications to clients. Underwriters and brokers then use…
Who’s responsible when construction projects go wrong
March 13, 2024 By Dr. Yasser Korany, KSI EngineeringConstruction project delays can expose commercial insurers to significant claims costs. Canada’s property and casualty insurance market collected more than $748 million in direct written premiums for surety bonds in 2022, per Canada’s solvency regulator, the Office of the Superintendent…
What quantum computing could mean for insurance
March 12, 2024 Jason ContantWhat will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such…
Staying on the right side of Quebec’s language law, Bill 96
March 7, 2024 David GambrillCanada’s property and casualty insurance industry is advised to establish a policy and train employees to comply with Bill 96, Quebec’s French language law, which calls for all policy contracts with clients in the province to be done in French…
Biggest barriers to selling cyber policies
March 1, 2024 David GambrillProduct complexity remains a huge obstacle to selling cyber insurance to neophyte business clients, brokers told Canadian Underwriter in a January online survey. A stronger emphasis on cyber education — to clients, brokers, and underwriters alike — is critical to…
Here’s what creates risks for hospitality providers in 2024
February 26, 2024 Philip PoradoAs Canada eases out of the COVID-19 pandemic, the country’s restaurateurs, hoteliers, and event venue operators face a multitude of risks. Changes over the past four years have hospitality providers swimming in a toxic soup of pandemic-stunted social habits, inflation-dented…
Managing insurer concerns about knob-and-tube wiring
February 21, 2024 Brian Cook, PowerCheckMost insurers see homes with knob-and-tube wiring, aluminum wiring, and 60-amp service as high-risk, which prevents clients with those systems from easily obtaining home insurance. But are wiring types and service levels really the culprits causing fires? I’ve examined electrical…
Why D&O price cuts may not be justified
February 15, 2024 David GambrillSofter 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…
Why you need to know the limits of your underwriting models
February 13, 2024 by Jason ContantVendors 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…