Segment
Underwriting
Communication around claims must be top priority: CEOs
October 24, 2022 by David GambrillSupply chain pressures and labour shortages mean Canada’s P&C industry and its suppliers need to focus on communications around claims service to maintain consumer trust and high service levels, insurance executives told a broker conference last week. Matthew Turack, group…
Amazon U.K. is selling insurance. Should Canadian brokers be worried?
October 21, 2022 by David GambrillAmazon in the U.K. has launched a new online store to sell home insurance, prompting Canadian insurance company and broker executives to ask: ‘Could it happen here?’ “In my view, it’s a turning point,” Intact Insurance CEO Louis Gagnon commented…
Opinion: How to end subscription policy bottlenecks
October 21, 2022 Douglas MorrowWhile the worst of the hard market in Canada is gradually drifting behind us and COVID-19 is taking something of a holiday, not all is rosy, especially for commercial lines business. Brokers worked tirelessly over the past several years to…
How Lloyd’s broke the bottleneck for Canadian MGAs
October 21, 2022 by Jason ContantEditor’s Note: This article has been revised to clarify the rules around continuous binding authorities emanating from Lloyd’s. Managing general agents (MGAs) with a binding authority contract from Lloyd’s — and where the capacity under the contract is provided…
How ESG affects the entire insurance supply chain
October 20, 2022 by Jason ContantImplementing environmental, social and governance (ESG) strategies will create a ripple effect impacting the entire insurance supply chain and billions of dollars in investments, said George Longo, president and CEO of MGA Excess Underwriting. “The ripple effect is going to…
Why insurance has street performers singing the blues
October 19, 2022 by PhilRising costs for busker’s insurance has street performers singing the blues. To hear them tell it, sky high insurance rates cut so far into their profits that it often makes more sense to just stay home. And, depending on the…
How insurers benefit from a green balance sheet
October 17, 2022 by Alyssa DiSabatinoCanada’s property and casualty insurers can grow their premiums and pay out fewer claims if they insure and invest in natural assets, including riverbanks, ponds and wetlands, according to case studies contained in the Intact Centre on Climate Adaptation’s new…
Why Lloyd’s has to defend a progressive property damage case
October 17, 2022 by David GambrillLloyd’s of London has a duty to defend the City of Timmins in a negligence lawsuit, in which homeowners are suing the city for failing to prevent progressive land erosion that led to an order to remove, relocate or demolish…
How inflation is factoring into reinsurance results
October 17, 2022 by Jason ContantThe first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.…
How new truckers can get a better ‘insurance experience’
October 13, 2022 Philip PoradoTo reduce claims rates for Alberta-based trucking companies, and loss ratios for commercial trucking insurers, an Insurance Bureau of Canada (IBC) executive said training regimens aimed at improving the quality of drivers entering the sector needs to improve. At 120…
Are driver shortages fuelling a spike in Alberta trucking claims?
October 11, 2022 Philip PoradoBorder crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified…
Many Canadians are driving more but are they telling their insurers?
October 6, 2022 Canadian Underwriter StaffInsurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more…