Canadian Underwriter


sea coast houses bracing for a hurricane
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How hurricane losses will impact pricing and capacity

November 21, 2022 Philip Porado

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”

Concept of positive and negative
News BrokersCatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Has Canada’s P&C hard market finally stabilized?

November 14, 2022 by Jason Contant

Canada’s P&C insurance market remains vibrant but unpredictable, although there are signs of stabilization, a Gallagher executive said during an industry webinar Monday. A variety of push-and-pull factors related to underwriting profits, reinsurance rates, interest rates and claims inflation, labour

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News Commercial LinesInsuranceMarkets / CoveragesTechnology

How Canada’s D&O and cyber insurance markets are shifting

November 14, 2022 by David Gambrill

Softer market conditions in Canada’s D&O insurance market have arrived, with ample capacity and decreased pricing in this class of business in 2023 Q3, according to Aon. “The [Canadian D&O] market transition further accelerated in Q3, especially for public companies

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

Why Intact Financial’s CEO says insurance market cycles aren’t ‘dead’

November 11, 2022 by David Gambrill

Property and casualty insurance market cycles are by no means ‘dead’ — not because of insurers’ competitive behaviour, but because claims cost shocks often trigger the need to shore up pricing, according to Intact Financial Corporation CEO Charles Brindamour. Brindamour

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How inflation will affect Intact’s auto rates going forward

November 10, 2022 by David Gambrill

Intact is predicting a firming of its auto insurance rates in Canada, where brokers and consumers can expect the company to increase auto rates by percentages in the upper single digits by the end of 2022. In its personal lines

Celyeste Power is the new CEO of IBC
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IBC announces new president and CEO

November 10, 2022 Canadian Underwriter Staff

Celyeste Power will succeed retiring Insurance Bureau of Canada (IBC) president and CEO Don Forgeron at the end of 2022. Power, who takes over as president and CEO on January 1, 2023, is currently executive vice-president for strategic initiatives and

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News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Why new risks plague the hospitality sector post COVID-19

November 8, 2022 Alyssa Di Sabatino

People can eat in restaurants across Canada without wearing a mask or providing proof of vaccination, a sign the risks initially associated with the spread of COVID-19 have lessened. But, with public health restrictions largely lifted, restaurant and bar owners

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CU launches new P&C industry podcast

November 8, 2022 David Gambrill

Canadian Underwriter is pleased to announce today’s launch of its new podcast series, What’s on Dec? in partnership with industry veterans Pete Tessier and Curt Wyatt. Tessier and Wyatt will be well-known to those who listen to The Insurance Podcast,

Palm trees in a hurricane
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesReinsuranceRisk

How Cats will impact insurers’ and reinsurers’ pricing and investments

November 3, 2022 Philip Porado

Rising cleanup costs following catastrophic weather events mean P&C insurers and reinsurers may have to adjust what they cover, and how they invest, global financial markets watchdog Fitch Ratings says. As Canada braces for its third year in a row

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Selling your brokerage? Don’t forget to tell your clients

October 31, 2022 Michael Carey

Imagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the

Shopping bag leaping from a computer to illustrate e-commerce growth for insurers
News BrokersCommercial LinesEmploymentInsuranceMergers and Aqcuisitions

How acquisitions help P&C brokers boost cross-selling options

October 28, 2022 Philip Porado

Several Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in

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News AdjustersCatastrophesClaimsInsuranceRestoration

Communication around claims must be top priority: CEOs

October 24, 2022 by David Gambrill

Supply 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