Segment
Underwriting
Commercial insurer, brokerage granted right to a jury trial in marine claim
September 7, 2022 by David GambrillA B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…
How advanced materials change insurance needs for new building projects
September 7, 2022 Philip PoradoEven before the COVID-19 pandemic, delays plagued commercial and residential construction in Canada. What’s changed since March 2020 is a rise in contributing factors causing these delays, noted Steve Schmelzle, practice leader of construction and contracting at Intact Insurance Specialty…
3 ways brokers can help oil and gas companies maintain coverage
September 6, 2022 Philip PoradoBrokers with clients in the oil and gas industry are closely watching statements by insurers announcing intentions to exit from coverage of Canada’s oil sands. Those insurers, like many other companies globally, are under intense pressure from consumers and governments…
Jim Abernethy Challenge: Can P&C industry top $500K for blood cancer research?
September 2, 2022 by David GambrillIn this year’s second annual Jim Abernethy Challenge, the Leukemia & Lymphoma Society of Canada hopes Canadian P&C insurance professionals can help top last year’s $500,000 contribution to blood cancer research and community support. The Jim Abernethy Challenge is part…
If recession hits, which specialty lines will create problems for brokers?
September 1, 2022 David GambrillConsumers respond predictably to a flagging economy – they cut back on spending. While Canada posted 3.3% annualized gross domestic product (GDP) growth in 2022 Q2, that number lagged analysts’ 4.4% forecast, and July’s real GDP number inched down 0.1%.…
New online platform ‘Bridges’ the gap between brokers and MGAs
August 31, 2022 by David GambrillCanadian managing general agencies (MGAs) have developed a new real-time, online platform that allows brokers to match their quote applications with MGAs underwriting that specific class of business. Once the match has been made, the platform promises to shave days,…
Ways to prevent losses when EVs catch fire onboard ships
August 31, 2022 Canadian Underwriter StaffElectric vehicles are fire! Literally. The large lithium-ion batteries they contain can catch fire faster than the ones used in laptops or cell phones, and those fires are particularly perilous when they happen on board ships transporting EVs to markets…
Will recession hit brokers with a new D&O hard market?
August 30, 2022 David GambrillJust when pandemic chaos was starting to ease, the light that Canada’s commercial insurance brokers saw at the end of the tunnel is starting to look like an onrushing train named the Recession Special. With recent lifting of COVID-19 public…
How marine & logistics insurance is evolving alongside the supply chain
August 29, 2022 Jason ContantProduct orders from giant online retailers like Amazon are now being filled and shipped from Canada – proof the logistics chain is evolving. But this also means Canadian companies storing and shipping goods under contract for these retailers need protection,…
Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?
August 26, 2022 Philip PoradoCanadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need…
Grassroots orgs demand insurers withdraw coverage for Trans Mountain Pipeline
August 26, 2022 by Alyssa DiSabatinoLiberty Mutual Insurance is among a list of insurers being asked by grassroots and Indigenous organizations to withdraw insurance support for the Trans Mountain Pipeline, which carries crude and refined oil from Alberta to British Columbia. A petition with more…
Are Lloyd’s remedial actions paying off?
August 25, 2022 by Alyssa DiSabatinoLloyd’s ‘remedial’ actions are working — after turning its first underwriting profit last year since 2016, Lloyd’s market is expected to have a robust underwriting performance in 2022 through 2024 as rates harden across many lines, predicted credit-rating agency S&P…