Industry
Commercial insurer Chubb Canada is about to get a new president. Ellen Moore is retiring at the end of this year, Chubb announced Thursday. “I want to thank Ellen for the exceptional contributions she’s made during her 40 years at Chubb and wish her the very best during her retirement,” Chris Maleno, senior vice president […]
By Greg Meckbach | October 22, 2020
2 min read
TORONTO – Dollarama Inc. is removing a counterfeit and recalled hand sanitizer from its shelves, which experts say should serve as a reminder of how important it is for retailers and consumers to do their due diligence when shopping. “Since coronavirus started, it’s just been a huge Wild West of personal protective equipment (PPE),” said […]
By Jason Contant | October 22, 2020
4 min read
The P&C industry’s second-quarter earnings reflect the impact of COVID-19. Overall, they tell a story of financial resilience
By David Gambrill, Editor in Chief | October 22, 2020
3 min read
COVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday. Faced with “the ultimate stress test” in having to master digital platforms quickly, brokerages saw […]
By David Gambrill | October 21, 2020
With $1 billion in auto premium relief made available for Ontario drivers alone, drivers across Canada shouldn’t expect more premium relief coming from their carrier, at least in the near future. Canadian Underwriter reached out to a number of insurers that offered pandemic relief measures through the spring and summer to get an update on […]
By Adam Malik | October 21, 2020
If a claim for a stolen scooter draws suspicion, an insurer will need to do more than just cite skepticism about the condition in which the power charger, keys and helmet are returned — especially if the electronic bike’s purchase receipt is marked as “deprecated.” The word “deprecated” is a stock-keeping system term meaning that […]
By David Gambrill | October 20, 2020
Cyber claims have skyrocketed recently thanks to the COVID-19 pandemic, and the relatively young class of business has entered a hard market, meaning that an already-tough-to-sell insurance product may become an even harder sell, according to an expert in the area of cyber coverage. MSA research reported in its Quarterly Outlook Report that in the […]
By Adam Malik | October 20, 2020
Did you know that in the U.S., 130 of the top 150 insurance carriers use CARFAX vehicle history data to improve underwriting and boost claims efficiency? In fact, CARFAX vehicle history data has proven to be highly correlated with loss ratios. Here are some of the most valuable data points for insurers: Odometer readings Based […]
October 20, 2020
Ontario’s long-term care homes are having trouble securing liability insurance for COVID-19, a situation that could force some of them to close, a group representing more than 70 per cent of the province’s homes says. The Ontario Long-Term Care Association says its homes are being offered new policies without a key provision: coverage for infectious […]
By Jason Contant | October 20, 2020
RED DEER, Alta. – A family-run company providing air-tanker support to control menacing wildfires in British Columbia, Alberta, Manitoba and Yukon is a little less busy these days, but it has nothing to do with the COVID-19 pandemic. “It has been really quiet on the fire front in both Alberta and B.C. the past two […]
By Jason Contant | October 19, 2020
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