Canadian Underwriter

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Underwriting


News AssociationsInsuranceLegalLegislation / RegulationRisk

Letter to the editor: Best Terms — the buyer’s point of view

February 26, 2021 BC Risk & Insurance Manager’s Association

To the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses

News InsuranceMarkets / Coverages

Intact CEO’s forecast for auto rate relief in 2021

February 24, 2021 by Greg Meckbach

It could be up to a year before driving habits return to normal, but don’t expect many of your clients to pay less for auto insurance. Those were a couple of key takeaways from a recent Intact earnings call. “It

News Insurance

Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

News Claims CanadaInsuranceMarkets / Coverages

COVID’s impact on aviation insurance could be worse than you think

February 1, 2021 by Greg Meckbach

The drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID

News ClaimsInsuranceTechnology

Telematics: Who’s jumping into the pool and who’s watching from the deck

January 28, 2021 by Greg Meckbach

Auto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance

News Insurance

How airlines can be exposed to personal injury lawsuits

January 27, 2021 by Greg Meckbach

Slips and falls are not just an exposure for property managers and landlords. They are also a concern for aviation insurers. “Generally, aviation insurers are exposed to liability claims from passengers both while they are inside the airplane and also

News Insurance

Your clients are more willing to share personal data for a better insurance deal

January 26, 2021 by David Gambrill

Consumers are increasingly willing to share their personal information with their insurers as long as it will help them prevent injury and loss, according to a recent consumer research conducted by Accenture. The caveat here is that consumers don’t trust

News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

Six reasons why commercial prices will probably continue rising

January 25, 2021 by Greg Meckbach

Don’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said

News InsuranceMarkets / CoveragesRisk

Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada

January 25, 2021 by David Gambrill

Garth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered

News InsuranceTechnology

What could push Facebook and Amazon into offering insurance

January 12, 2021 by Greg Meckbach

If the federal government goes forward with giving fintechs increased access to consumer financial transaction data, this could encourage large tech players like Amazon and Facebook to get into the insurance business, a Canadian P&C expert suggests. “Nobody ever thought

News Legislation / Regulation

The ‘strange and new opportunity’ for insurance from open banking

January 4, 2021 by Greg Meckbach

If Canada proceeds with so-called “consumer-directed finance,” technology firms could potentially get access to consumers’ insurance data, a Microsoft Canada expert told brokers during a recent webinar. The federal finance department appointed its Advisory Committee on Open Banking in 2018.

News ClaimsClaims CanadaCommercial LinesInsuranceRisk

Why the D&O market will probably get harder

December 15, 2020 by Greg Meckbach

Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions