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How commercial premium renewal rates are trending in Canada

April 30, 2021 by Jason Contant

Canadian commercial line renewal rates increased at a slower pace across all major lines in Q1 2021 compared to one year ago, according to the latest commercial premium rate index from tech vendor Applied Systems. Overall, the magnitude of rate

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Small businesses move to lock in rental deals amid low vacancy rates  

April 16, 2021 Salmaan Farooqui, The Canadian Press

When Sohel Imani went looking for a second location for his bike shop in Toronto’s West End, he knew he’d be able to leverage the city’s current commercial rental market. With dozens of storefronts sitting empty in any given Toronto

News Insurance

Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

News Commercial LinesInsuranceMarkets / CoveragesRiskTechnology

Underwriting long term care: Transforming liability into opportunity

December 4, 2020 by David Gambrill

With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in

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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,