Canadian Underwriter


News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Will more Canadian commercial insurers look south for acquisition targets?

April 26, 2018 by Greg Meckbach

Buying American commercial insurers is a “strategy that could prove rewarding” for Canadian insurance companies, executives from Toronto-based DBRS wrote in a report released Thursday. Expanding into the U.S. commercial space “requires significant resources,” wrote Stewart McIlwraith, senior vice president

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Why brokerages looking at M&A should consider management buy-outs

April 16, 2018 by Jason Contant

The market for property and casualty insurance brokerages continues to be intense, with books of business attracting prices from three-and-a-half to five times commissions – and even more for online business, Mike Berris, partner and practice group leader with Vancouver-based

Feature Claims CanadaInsurance

Understanding Business Interruption Losses

April 11, 2018 Jay Strano, Managing Director, Crawford Forensic Accounting Services

Prompted by the emergence of new triggers, business interruption remains a top risk according to the 2017 Allianz Risk Barometer, which defines it as “a loss of income that could impair a company’s revenue stream and thus [trigger] a shortfall

News InsuranceMarkets / CoveragesTechnology

How blockchain will put pressure on broker commissions in 3-5 years

April 10, 2018 by David Gambrill

Blockchain is going to put pressure on broker commissions and fundamentally change the way the broker channel does business over the next three to five years, says a past Marsh Canada national executive and management committee member. Blockchain will reduce

News Insurance

Why Aviva says retention is “a great growth strategy” for brokers

March 15, 2018 by David Gambrill

With rates on the rise in personal home and auto insurance lines, retaining existing clients could potentially be a great growth strategy for brokers going forward, Aviva Canada advises. “The opportunity to get more rate from existing clients is one

News Insurance

Insurer accused of bad faith pays $100,000 more for repairs than what the car is worth

March 12, 2018 by David Gambrill

B.C.’s Supreme Court has allowed a bad faith claim to proceed against the Insurance Corporation of B.C. in the case of a Ferrari repair that cost the government insurer almost $800,000 — about $100,000 more than what the car was

News Legislation / Regulation

RSA Canada endorses “all of the recommendations” in Marshall report

February 26, 2018 by Greg Meckbach

Although every Canadian auto insurance system has its problems, a special advisor to Ontario’s finance minister did an “excellent job” in describing the problems specific to that province, says the head of RSA Canada. “I don’t think there is an

News InsuranceMergers and Aqcuisitions

Want to acquire an MGA? Here’s what you can expect to pay (and why)

February 21, 2018 by Jason Contant

Brokers or managing general agents (MGA) looking to buy another MGA could be looking at multiples of four times commission just to be able to compete with insurers looking to make the same purchase, industry analysts say. Philip Heywood, partner

News ClaimsInsurance

How to start a kitchen flood claim with the wave of a paw

February 7, 2018 by Jason Contant

Fancy kitchen faucets that start and stop with a wave of the hand–or a feline paw–have contributed to some curious flood claims. In his presentation about appliance fires and flood claims, Mazen Habash, president of forensic engineering firm Origin and

News InsuranceLegal

Gift cards–a new way to reduce liability

January 26, 2018 by David Gambrill

You are providing risk advice to a company accused of wrongdoing. What do you think about your client offering voluntary gift cards as a strategy to reduce liability? The question is currently before the Ontario Superior Court of Justice in

News InsuranceMarkets / CoveragesReinsurance

Why cat bonds, ILS are depressing reinsurance rates

January 18, 2018 by Greg Meckbach

Despite last year’s devastating hurricanes, investors are happy to keep shovelling money into cat bonds and insurance-linked securities (ILS), which in turn are making reinsurers think twice about hiking rates. The catastrophe bond and ILS markets have “grown hugely over

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Will a “wave of succession” spur M&A for Canadian brokerages?

January 16, 2018 by Jason Contant

Succession planning has triggered an uptick in brokerage mergers and acquisitions over the last couple of years, an industry analyst told Canadian Underwriter recently. “I would say there’s an uptick in assets coming to market that are owner-operated, where succession