The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020,…
Insurers will be forced to make tough decisions about how they offer cyber coverage, thanks to claims going through the roof this year and losses piling up across the board, a cycler expert recently told Canadian Underwriter. Insurers will have…
As the United States nears election day, Canadian P&C insurers and other financial analysts are trying to read the tea leaves for signs of a crisis mitigation strategy south of the border that would address the COVID-19 pandemic and its…
The Canadian property and casualty insurance industry is okay — for now. But the longer the global COVID-19 pandemic drags on, the greater the risk that the economic fallout and financial instability will impact the industry’s financial position, warns MSA Research…
Under mounting uncertainty and safety concerns, MSA Research made the call to push back two of its upcoming conferences to the fall. InsurTech North was set to run April 6-7 in Toronto, while the Canadian Insurance Financial Forum (CIFF) was…
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…
As if mounting auto insurance losses aren’t enough, the industry now has a new emerging issue to worry about this year – an alarming spike in home and commercial property claims. Catastrophe losses and fire are among the chief culprits…
Blockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten…
We often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing…