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Why further rate increases could be needed after 2021

October 30, 2020 by Greg Meckbach

Despite double-digit price increases in several commercial lines, premiums will need to rise further, a Bermuda insurer CEO said Thursday. “More rate action is needed and likely it will take beyond 2021 in some lines to get to rate adequacy,”

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The impact of MGAs getting more business

August 25, 2020 by Greg Meckbach

It is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now

News Commercial LinesEarnings / RatingsInsurance

How Intact is handling commercial insurance relief measures

May 7, 2020 by Greg Meckbach

Canada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call

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Commercial clients should do this before they leave for the day

January 16, 2020 by Greg Meckbach

Are your clients checking the bathrooms before they leave work for the day? “The last thing you want is to leave someone with access to your property after the doors have been locked,” Northbridge Insurance noted in Closing time: Making

News AdjustersInsuranceMarkets / Coverages

How IBC is addressing hard market in condo insurance

January 7, 2020 by Greg Meckbach

Condo corporations in Alberta that are having trouble finding insurance might be able to get help from the Insurance Bureau of Canada. IBC announced Tuesday it is “engaging” a risk manager who can make practical recommendations to condominium corporations to

News Appointments

Who will be who in the Intact commercial specialty crew

December 17, 2019 by Greg Meckbach

Intact Financial Corp. announced Tuesday some key executive appointments in its commercial specialty and managing general agent business. Effective Jan. 1, Carla Smith will be senior vice president of specialty solutions for Intact. Pete Weightman, currently Intact’s senior vice president

News InsuranceLegislation / Regulation

Would driver training reduce risk for dump trucks and buses?

December 9, 2019 by Greg Meckbach

Could commercial auto risk be reduced if training was mandatory for drivers of dump trucks, buses and 20-foot cube vans? It’s a question Ontario’s transportation ministry is looking at, the province announced in its recent auditor general’s report. Formal training

News Insurance

So when is the P&C industry going to make real money in cyber?

November 28, 2019 by David Gambrill

There’s a huge opportunity for Canadian brokers during this hard market and it’s hidden in plain sight — cyber insurance. Cyber protection has been a dominant fixture in industry discussions for the past several years. The product has evolved considerably,

News BrokersInsuranceTechnology

What’s coming to the forefront of commercial insurance

November 27, 2019 by Greg Meckbach

How do you insure intangible assets like intellectual property or data on the cloud? If you are not thinking about this now, you could be in a few years, insurance company executives told brokers attending Canadian Underwriter‘s Top Broker Summit

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Small business auto clients are taking this complaint to their politicians

November 8, 2019 by Greg Meckbach

Commercial trucking underwriting rules are killing some small businesses, Ontario’s deputy opposition leader told Canadian Underwriter Friday. John Vanthof, MPP for Timiskaming—Cochrane, is hearing from family-owned businesses that they are not able to find affordable insurance for newly trained and

News Insurance

New commercial lines senior VP for Canada’s largest P&C insurer

September 19, 2019 by Greg Meckbach

Intact Financial Corp. announced Thursday that Darren Godfrey will become Intact Financial Corp.’s senior vice president, commercial lines on Jan. 1. Godfrey, currently senior VP of personal lines, will replace Alain Lessard, who retires at the end of the year.

News Insurance

The state of insurers’ risk appetite one year after pot legalization

September 12, 2019 by Greg Meckbach

Business clients in the cannabis industry are having a hard time finding some insurance coverages, A.M. Best Company Inc. warned in a report released Thursday. “Coverage available to canna-business owners remains in short supply,” A.M. Best said in its annual