What it will take for another interest rate hike
February 21, 2019 Andy Blatchford THE CANADIAN PRESSOTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor…
How your brokerage might benefit from partnering with an innovation hub
February 11, 2019 by Jason ContantA brokerage in Nova Scotia has partnered with an innovation hub in Atlantic Canada to “up its game” in the digital space. AA Munro Insurance, which has more than 20 locations in Nova Scotia, has partnered with Volta Labs. This…
What the industry learned from the costliest catastrophe of 2018
February 7, 2019 by Jason ContantThe sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people…
What stopped this $800,000 subrogated pollution claim
February 4, 2019 by Greg MeckbachA subrogated claim could go off the rails if the client is bankrupt. The Supreme Court of Canada announced Thursday it will not hear a subrogation case involving Desjardins, which applied last year for leave to appeal Douglas v. Stan…
What commercial brokers are saying about the worrisome market turn
February 4, 2019 by David GambrillWhether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.…
Private flood insurance cited in new emergency management plan
January 28, 2019 by Jason ContantFederal, provincial and territorial (FPT) governments could “engage the private sector to develop an affordable private flood insurance model for the entire population, including clear incentives for mitigation of flood risks,” says a newly released emergency management strategy. Ministers have…
CPP benefits received after a trial deductible from auto injury lawsuit awards, appeal court rules
January 28, 2019 by Greg MeckbachHas your client been successfully sued after a vehicle accident in Nova Scotia? The damages may be reduced if the claimant can get disability benefits in the future through the Canada Pension Plan, a court has ruled. Sparks v. Holland,…
Why the global protection gap is the lowest it’s been in 14 years
January 22, 2019 by David GambrillGlobally, the protection gap in 2018 shrunk to 60% – the lowest level it has been in 14 years, according to a new report on global catastrophes by Aon plc. Extreme weather drove the majority of the globe’s $225-billion worth…
Hard market? Not so fast.
January 16, 2019 by Jason ContantThe Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning…
2019 Executive Outlook | Ulrich Kadow, AGCS Canada
January 3, 2019 Canadian UnderwriterCanadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019…
Interest rates might not rise next month: Analysts
December 19, 2018 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Cooling inflation has given the Bank of Canada another reason to keep interest rates on ice next month. The annual pace of inflation slowed in November to 1.7 per cent as upward pressure from higher gasoline prices eased…
How ‘exponential era technologies’ bedevil insurers
December 13, 2018 by Greg MeckbachHow you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you…