Industry
Evidence of a hard market in personal lines in Canada was apparent in Applied Systems’ latest quarterly Applied Rating Index, released Tuesday. The Q4 2018 index found that average premiums for personal auto and personal property lines increased by more than five per cent in all provinces in comparison to the fourth quarter of 2017. […]
By Jason Contant | January 10, 2019
2 min read
OTTAWA – The Bank of Canada left its trend-setting interest rate unchanged at 1.75 per cent Wednesday as the sharp decline in oil prices temporarily dims its economic outlook for the coming months. Before long, however, the central bank expects the economy to expand with renewed vigour. More rate hikes, it stressed, will be necessary […]
By Greg Meckbach | January 9, 2019
3 min read
With signs of a hard insurance market in Canada, it appears that a lot of insurers are still reticent about entering the cannabis space. “When an insurance cycle goes a little bit harder, when insurers are trying to put their houses in order, it makes underwriters cautious even about the books they know, never mind […]
By Jason Contant | January 8, 2019
Homeowners in Quebec now have storm surge coverage available, while homeowners in Manitoba are covered for overland flood damage, The Co-operators said Monday. Storm surge, which includes rising water levels and waves caused by storms, presents a significant flood risk, especially in coastal regions where extreme weather patterns have intensified with the changing climate. “We […]
By Jason Contant | January 7, 2019
British Columbia’s public auto insurer is challenging the view that opening up the market to competition will create efficiencies and better accident benefits. The Insurance Corporation of British Columbia (ICBC) was responding to comments from the Canadian Federation of Independent Business (CFIB) saying “it’s clear that the solution to the challenges in B.C.’s auto insurance […]
Canadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019 Executive Outlook, may provide you with insight as you set your own agenda for change. […]
By Jason Contant | January 4, 2019
A Canadian risk manager is the new vice president of Risk and Insurance Management Society Inc., New York City-based (RIMS) announced Wednesday. Steve Pottle – director of risk management services for Thompson Rivers University in Kamloops, B.C. – was previously treasurer of RIMS. The 2019 president of RIMS is Gloria Brosius, RIMS announced Wednesday. By […]
By Greg Meckbach | January 2, 2019
By Jason Contant | January 2, 2019
Product liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The insurance we maintain with respect to certain of these risks, including product liability and recall […]
By Greg Meckbach | December 20, 2018
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