Canadian Underwriter


News Catastrophes

What the industry paid out for severe weather in 2018

January 17, 2019 by Greg Meckbach

The industry lost nearly $2 billion last year in Canada alone from the combined effect of several weather catastrophes. “No single event caused the high amount paid out for losses,” the Insurance Bureau of Canada said Wednesday in a release.

News InsuranceRisk

Why CBI insurance is on the rise in Canada

January 16, 2019 by Jason Contant

Contingent business interruption (CBI) insurance is on the rise in Canada, with an increase in both demand and higher limits, says the CEO and chief agent for Allianz Global Corporate & Specialty (AGCS) Canada. “This is one of the most

News Insurance

2019 Executive Outlook | Ulrich Kadow, AGCS Canada

January 3, 2019 Canadian Underwriter

Canadian 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

News Insurance

2019 Executive Outlook | Louis Gagnon, Intact

January 2, 2019 Canadian Underwriter

Canadian 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

News ClaimsRisk

Marriott data breach could cost over $200 million: AIR

December 20, 2018 by Greg Meckbach

The hacking of a hotel reservation system affecting Sheraton, Westin, Starwood and Marriott could cost up to $600 million for direct losses alone, AIR Worldwide said this week. AIR, a subsidiary of Verisk Analytics Inc. that produces catastrophe loss models,

News ClaimsInsurance

How costly is the fire peril for Canadian insurers?

December 13, 2018 by Jason Contant

The traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed

News Climate ChangeInsuranceReinsurance

What could drive reinsurers away from some markets

December 10, 2018 by Greg Meckbach

Reinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”

News Earnings / RatingsInsuranceReinsurance

Why A.M. Best gave the global reinsurance segment a ‘stable’ outlook

December 6, 2018 by David Gambrill

CORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.

News AdjustersCatastrophesClaimsInsurance

What is the best way to address mobility issues for independent adjusters?

December 4, 2018 by Jason Contant

There needs to be a hybrid system of self-regulation in concert with regulatory discipline to handle interprovincial mobility issues for independent adjusters, says the president and CEO of an independent adjusting firm. “We need a hybrid system of self-regulation in

News AppointmentsInsurance

Alister Campbell to lead PACICC in February 2019

December 3, 2018 by Jason Contant

Alister Campbell, a 30-year industry veteran, has been appointed president and CEO of the Property and Casualty Insurance Compensation Corporation (PACICC), effective Feb. 4, 2019. Campbell’s appointment marks the retirement date of PACICC’s long-time president and CEO, Paul Kovacs, who

News BrokersInsuranceMarkets / Coverages

Large commercial brokerage reports ‘stealth’ firming in casualty lines

November 13, 2018 by Jason Contant

A recent report from commercial brokerage Willis Towers Watson has confirmed what Canada’s largest insurer is saying: the commercial insurance market is showing signs of firming as casualty losses mount. “The seemingly ‘stealth’ firming within the casualty market comes as

News BrokersCatastrophesClaimsInsurancePodcast

What brokers should know about Emergency Preparedness [podcast]

November 9, 2018 Canadian Underwriter

When entrepreneurs and executives lie awake at night worrying about their businesses, they’re usually concerned with competitive threats. There’s always someone out there planning to disrupt their industry, court their customers or poach their employees. They should be worried. But