Canadian Underwriter

Person showing others the way out of a cave
News BrokersClaimsInsuranceMarkets / Coverages

Which coverages will lead brokers out of the hard market?

September 5, 2023 David Gambrill

For several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now

Turning off a giant faucet to represent loss control
News BrokersInsuranceRisk

What’s changing the way commercial brokers view loss control?

June 26, 2023 David Gambrill

It’s possible the pandemic, combined with the P&C industry’s ongoing hard market, may have permanently altered how insurers assess their risk appetites. And brokers wise to this shift have adjusted their approach to advising clients accordingly. Given that insurers are

Older business person with empty wallet can't afford insurance
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

Tips for advising commercial clients during economic downturns

May 9, 2023 Alyssa Di Sabatino

Inflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,”

Native reserve
News Commercial LinesInsuranceMarkets / Coverages

Insurance premium tax exemption for B.C. First Nation with no reserve

November 4, 2022 by David Gambrill

Qayqayt First Nation in B.C., which purchased a surety bond from a U.K. insurer as collateral for a bank loan to fund a legal action against the Crown for taking away its land, does not have to pay tax on

Construction crane in downtown Vancouver
News Insurance

Where Aviva Canada CEO sees commercial and auto lines heading

March 2, 2022 by Jason Contant

Pressures on commercial insurance rates will continue for the near future, but there will still be opportunities to write new business, says Jason Storah, CEO of Aviva Canada. As for auto lines, it remains to be seen how driving levels

red sign with a strikeout through some dollar signs
News ClaimsInsuranceLegalLegislation / Regulation

Court sides with insurer in multi-million-dollar spat over sublimits

January 21, 2022 by David Gambrill

B.C.’s Supreme Court has upheld an insurer’s insistence that a mining company’s business interruption losses were subject to a $10-millon sublimit and not to the full policy limit of $250 million. That said, the court did not agree with the

News Insurance

Ontario promises action to address rising commercial insurance rates, critics urge regulation

October 26, 2020 Shawn Jeffords - THE CANADIAN PRESS

TORONTO – Under pressure to address rising commercial insurance rates blamed on the pandemic, Premier Doug Ford promised this week to take action to stop what he called “gouging” by some companies in the sector.   Ford twice this week has

News AdjustersBrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Industry execs to discuss how to navigate the condo insurance market

October 23, 2020 by David Gambrill

Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,

News BrokersInsuranceRisk

Commercial clients want your advice on how to re-open safely. What do you tell them?

July 8, 2020 by David Gambrill

As provincial governments across Canada begin to fire up their local economies in staged phases, Canadian businesses are asking their brokerages for advice on how to re-open safely. Aon Canada is already engaged in these sorts of their discussions with

News CatastrophesClaimsMarkets / CoveragesReinsurance

What reinsurance renewals on Jan. 1 told us about the market

January 2, 2020 by David Gambrill

Reinsurance renewals at Jan. 1, 2020 reflected an “asymmetrical” market, featuring a mixed bag of rate increases or decreases (depending on the specific business line or territory), as well as significant rate increases in the retrocession markets, according to Guy

News Insurance

Combined ratio up 7.9 points at Allied World

April 21, 2016 by Canadian Underwriter

Allied World Assurance Company Holdings AG reported Tuesday its combined ratio deteriorated 7.9 points, from 88.1% during the first quarter of 2015 to 96% in the three months ending March 31, while net premiums written dropped 8.9%. Zug, Switzerland-based Allied