Segment
Underwriting
Car owner vicariously liable for crash despite reporting her vehicle stolen
May 13, 2022 by David GambrillA car owner is vicariously liable for any damage or injury caused by the driver of their borrowed car, even if the owner places conditions on — or revokes — consent while the driver is still in possession of the…
Where have all the good underwriters gone?
May 12, 2022 Gloria CilliersFor years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…
4 insurance industry trends to watch
May 11, 2022 Tara KellyIn this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
Ontario Election: NDP plans to ban postal code rating for auto insurance
May 10, 2022 by Alyssa DiSabatinoEditor’s Note: The Conservative government outlined its plans for insurance in their budget document, released before the Ontario election, which will take place June 2. Canadian Underwriter is asking Ontario’s political parties for their platforms on insurance. We are printing…
3 lessons about brokers’ obligations to insureds
May 6, 2022 Harmon C. HaydenA broker has an obligation to help clients understand policy specifics and avoid coverage gaps, and it’s not necessarily going to save them if the client hasn’t reviewed the policy, the British Columbia Court of Appeal found recently in Alvaro…
Drones, phones and loss control: how inspections changed amid the pandemic
May 5, 2022 by Alyssa DiSabatinoLoss control strategies had to pivot amid the COVID-19 pandemic, and while many insurance carriers reverted to ‘Old School’ loss control inspections via the phone, some took it even further, industry experts share during a Canadian Underwriter webinar. The…
What disco-era stagflation means for insurers’ bottom lines
May 5, 2022 Philip PoradoTight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising…
$200K liability limit triggered in suicidal driver’s auto policy
May 4, 2022 by David GambrillThird-party drivers injured in an accident caused by the criminal action of a suicidal driver cannot claim more than the minimum $200,000 liability limit in the suicidal driver’s policy because of a public policy rule enshrined in the New Brunswick…
Insurance Act changes may help Alberta as insurers retreat from oil and gas
May 4, 2022 Philip PoradoMajor insurers continue to announce they’ll cease issuing coverage to the oil and gas industry, which remains economically critical to Alberta and other Canadian provinces – and is poised to experience a demand boost as Europe seeks alternatives to Russian…
Beware the tax implications of unlicensed insurance
May 3, 2022 Jason ContantIf you’re looking to place a risk through an insurer that’s not licensed to write business in Canada, it’s important to understand the requirements around filing federal and provincial taxes, as well as special broker licenses. Although direct placement with…
How telematics is a game-changer for claims
May 2, 2022 by Alyssa DiSabatinoTelematics, which allows insurance companies to measure client driving behaviour, has largely been used by carriers in the underwriting process, but it may prove to be equally as useful for claims, says one telematics provider. Claims telematics can be used…
Everest makes key promotion and appoints chairman
April 28, 2022 Canadian Underwriter StaffEverest Re Group’s reinsurance division, Everest Reinsurance, has promoted Scott Paddington to chief agent and chief underwriting officer of Everest Reinsurance Canada. It also appointed Russ Lewis to chairman of Everest Reinsurance Canada. Both now report to Jill Beggs, head…