Canadian Underwriter

News InsuranceProfessional DevelopmentTechnology

2018 Outlook: Silvy Wright, President, CEO Northbridge Financial Corporation

January 3, 2018 Silvy Wright

With digital innovation, customers are extracting more value from their insurance partners — and this will only continue to ramp up in 2018. Insurtech startups raised $985 million in 2017 Q2 alone; investments in startups have increased by 36% over

News CatastrophesInsuranceMarkets / CoveragesReinsurance

2018 Outlook: Heidi Sevcik, President, CEO, Gore Mutual Insurance Company

January 2, 2018 Heidi Sevcik

The pace of change in the property and casualty market remains faster than ever before, increasing the need for cooperation and innovation in 2018. The increasing frequency of severe weather events emphasizes the importance of the industry and governments working

News InsuranceLegalMarkets / Coverages

Driver convicted of failing to yield awarded $151,000 in legal costs

December 19, 2017 by Canadian Underwriter

A driver convicted of failing to yield the right of way after turning into the path of a different vehicle has nonetheless collected $30,000 from the other motorist and was awarded an additional $151,000 in legal costs. In Duncan v.

News Earnings / RatingsInsuranceMarkets / Coverages

Politicians at odds with industry over territorial rating

December 18, 2017 by Canadian Underwriter

Using postal codes to determine auto insurance rates could come to an end if the Progressive Conservatives win the next Ontario election. “Geographic discrimination should be eliminated while not raising rates on other parts of the province,” a spokesperson for

News InsuranceLegislation / Regulation

Trial lawyers doubt standard treatment plans will help auto insurers

December 15, 2017 Greg Meckbach, Associate Editor

Ontario’s call for standard treatment plans in auto accident benefits might well do the opposite of what was intended — increase claims disputes and provide no benefit to insurers, personal injury lawyers say. In his Fair Auto Insurance Plan, released

News InsuranceLegislation / RegulationMarkets / Coverages

Auto reforms could run up against major roadblock

November 28, 2017 Greg Meckbach, Associate Editor

Don’t hold your breath waiting for further Ontario auto insurance reforms. No major changes are expected to Ontario auto insurance law before next year’s election, even though 35 recommendations were released more than seven months ago in a review commissioned

News Earnings / RatingsInsuranceMarkets / Coverages

Feds looking to tax broker dividend strategy

November 20, 2017 Greg Meckbach, Associate Editor

Brokerage owners who pay their young adult children dividends to help with post-secondary education should “reassess” that strategy in light of proposed tax changes, an accounting expert suggested Monday. Among the proposed changes announced in July by Finance Minister Bill

News InsuranceMarkets / CoveragesTechnology

How A.I. can help brokers deal with their carriers

November 19, 2017 David Gambrill, Editor-in-Chief

Brokers are excited about the potential of artificial intelligence (A.I.) to help streamline interactions—not just between brokers and consumers, but also between brokerages and insurance companies. Chatbots are often cited as an A.I. tool to help brokerages automate and streamline

News AssociationsInsuranceMarkets / Coverages

Auto reform an opportunity for brokers to review clients’ personal situations: IBAO president-elect

October 31, 2017 Greg Meckbach, Associate Editor

A set of changes to auto accident benefits coverage is a “perfect example” of an opportunity for brokers to contact their clients and review insurance needs, the president-elect of the Insurance Brokers Association of Ontario suggested at the organization’s recent

News ClaimsInsuranceMarkets / Coverages

Marshall gives his take on the ‘real problem’ with auto catastrophic impairment coverage

October 30, 2017 Greg Meckbach

The Ontario auto insurance system needs to do more for claimants who are catastrophically injured and not rely so much on “competing opinions” among medical practitioners, a former chief executive officer of the workers compensation system suggested to brokers recently.

News Earnings / RatingsInsuranceMarkets / Coverages

Kingsway reports net loss of US$1.6 million in Q3 2017

October 30, 2017 by Canadian Underwriter

Toronto-based Kingsway Financial Services Inc. announced on Friday a net loss attributable to common shareholders of US$1.6 million in the third quarter of 2017 compared to net income attributable to common shareholders of US$1.4 million in Q3 2016. “An estimated

News CatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Hurricanes expected to deliver 1.4 billion euro hit to Munich Re in third quarter, total tally estimated at 2.7 billion euros

October 26, 2017 by Canadian Underwriter

Exceptional major-loss expenditure related to hurricanes Harvey, Irma and Maria (HIM) are expected to result in Munich Re posting a loss of 1.4 billion euros in 2017 Q3, reducing the (re)insurer’s previously anticipated full-year profit. Emphasizing that current estimates “are