Canadian Underwriter


News Insurance

Common misconceptions about business interruption insurance

February 8, 2019 by Jason Contant

One strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife

News Catastrophes

Two weird things about the 2018 catastrophe season

February 7, 2019 by Jason Contant

The Canadian insurance industry saw a bit of an unusual catastrophe season last year, with more cats in the second quarter than the third, and Ontario beating out Alberta for insured losses. There were a total of 12 catastrophes last

News Insurance

Mystery explosion damages 22 homes in Caledon

February 6, 2019 by Greg Meckbach

Nearly two dozen homes were damaged after one fatal incident Sunday near Toronto. An explosion demolished a house in Caledon, killing Joseph Westcott and damaging neighbouring properties, The Canadian Press reported. About 22 homes were “damaged to varying degrees,” Andrea

News ClaimsLegislation / Regulation

Has Intact noticed the impact of pot legalization on auto claims?

February 6, 2019 by Greg Meckbach

Recreational cannabis has been legal for nearly four months, but it’s too early for Canada’s largest property and casualty insurer to tell whether it’s having an impact on auto claims frequency. Senior managers with Intact Financial Corp. were asked Wednesday

News Commercial LinesInsuranceRisk

The “perfect storm” conditions for commercial rate increases

February 4, 2019 by Jason Contant

The past few years have created a perfect storm leading to an increase in commercial insurance rates, Signature Risk Partners Inc. says in a white paper released last week, entitled Hard Commercial Insurance Market on the Way. One factor is

News Appointments

MSA Research hires former Guarantee VP as COO

February 1, 2019 by Greg Meckbach

Marilyn Horrick, a former executive with The Guarantee Company of North America, is now executive vice president and chief operating officer of MSA Research Inc. The appointment took effect Friday. Toronto-based MSA’s reports include financial information on most of Canada’s

News ClaimsCommercial LinesInsurance

Why the cyber market has become so crowded

January 31, 2019 by Greg Meckbach

Clients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage

News ClaimsInsurance

Hundreds of collisions in aftermath of Toronto snow storm

January 30, 2019 by Jason Contant

A winter storm that dumped nearly a foot of snow on Toronto and surrounding areas over a 24-hour period has also caused hundreds of collisions. From a claims perspective, there has not been a “significant increase” in claim activity, one

News InsuranceTechnology

How to make money during an unprofitable market

January 24, 2019 by David Gambrill

As market conditions start to become more challenging in personal home, auto and commercial property lines, how can carriers and brokerages maintain a healthy, profitable book of business? “To me, there are three possible strategies,” says Greg McCutcheon, president of

News Insurance

Why the global protection gap is the lowest it’s been in 14 years

January 22, 2019 by David Gambrill

Globally, the protection gap in 2018 shrunk to 60% – the lowest level it has been in 14 years, according to a new report on global catastrophes by Aon plc. Extreme weather drove the majority of the globe’s $225-billion worth

News CatastrophesInsurance

What will insurance look like in 30 years?

January 21, 2019 by Jason Contant

Insurance company survival and relevancy will be big issues for the industry in the coming decade, predicts a P&C industry consultant. “We are facing somewhat of a crisis in that our industry is only picking up 32% of catastrophic losses

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.