Canadian Underwriter

Segment
Underwriting


Magnifying glass representing scrutiny.
News InsuranceLegal

What FSRA found when it examined take-all-comers compliance

August 4, 2023 Philip Porado

Ontario’s auto insurance regulator has used the phrase “systemic non-compliance” to describe how the province’s 12 largest auto insurance companies are approaching Ontario’s take-all-comers requirement. According to a Financial Services Regulatory Authority of Ontario (FSRA) report, released Friday, market behaviour

Rocket represents rising reinsurance premiums
News CatastrophesClimate ChangeInsurance

What’s the future for Canada’s reinsurance rates?

August 2, 2023 Alyssa Di Sabatino

New risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was

Mathematical equation on a black board
News BrokersCatastrophesClaimsInsurance

What the math says about P&C return rates

July 24, 2023 Alyssa Di Sabatino

What’s a reasonable rate of return for Canada’s property and casualty insurers? According to Craig Pinnock, chief financial officer at Northbridge Financial Corporation, for the insurance industry, it could sit anywhere between 5% on the low end, 10% on average,

Person running away from a tidal wave or tsunami
News CatastrophesClaimsClimate ChangeInsurance

Can insurers and reinsurers survive looming NatCat trends?

July 21, 2023 Glenn McGillivray

One of the hallmarks of a warming world is that you never know what may come next. The reasonably stable climate of the last 100,000 years is being thrown into disarray as Earth’s systems are forced out of kilter. For

Analyzing financial results
News ClaimsCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

How the industry’s ROE is trending

April 26, 2023 by Jason Contant

The Canadian property and casualty insurance industry’s return on equity (ROE) last year dropped a few percentage points from the 17% to 18% level it was in 2021, but it’s still above the long-run average of 10.1%, a new industry

Canada braces for an economic downturn
News BrokersCommercial LinesInsurance

Brokers braced for tough conversations when the economy slips

April 14, 2023 Alyssa Di Sabatino

Most economists are still calling for some degree of economic downturn later in 2023. That makes the road ahead uncertain for commercial companies, and many can be expected to seek ways to tighten their belts. For some, cost-cutting measures may

Business associates arguing.
News ClaimsCommercial LinesConstructionEngineeringInsuranceLegal

Why resolving claims disputes is about more than numbers

April 11, 2023 Derek Sayers

Want to increase the likelihood of a construction project insurance claim being accepted? Take the time to validate each aspect of that claim. The upfront work will make it easier for any umpires, mediators, consultants or lawyers brought in to

News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

How underwriters are tackling cyber exposure in D&O policies

April 6, 2023 by Jason Contant

Underwriters are starting to address cyber exposure in directors and officers (D&O) policies, an insurtech told delegates at the NetDiligence Cyber Risk Summit in Toronto. “What we’re seeing is mandatory cybersecurity exposure questions on D&O submissions,” said Ben Davis, team

Large commercial building under construction.
News BrokersCommercial LinesConstructionInsuranceReinsurance

Where brokers writing construction coverage may see bottlenecks

March 31, 2023 Philip Porado

A significant rise in construction projects being submitted in Canada means lead underwriting time is critical, according to a 2023 Q1 Global Construction Rate Trend Report from WTW. “Staffing shortages and underwriting approval processes are causing delays in quote turn-around,”

Inflation is getting away from us
News ClaimsInsuranceRisk

How insurers can respond to interest rate hikes and market volatility

March 24, 2023 Philip Porado

How might high inflation, rising interest rates, and current volatility in stock and bond markets impact future P&C insurance pricing? It’s too early to tell. For insurers, the current environment requires consistent monitoring of profitability and portfolio performance, said Fiona

Dollar vanishing to represent loss ratios.
News BrokersClaimsCommercial LinesInsurance

Can cyber coverage recover from past high loss ratios?

March 20, 2023 Jason Contant

The Canadian cyber market in general has suffered some “pretty bad loss ratios in the last couple of years,” said Jack Bottomley, senior consultant for cybersecurity with KPMG in Canada. Not long ago, the industry saw its cyber loss ratio

Corporate boardroom in chaos
News BrokersCommercial LinesInsuranceMarkets / Coverages

What might cause the softening D&O market to stall?

March 8, 2023 Philip Porado

Hard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several