An overcoat and galoshes keep your body from the raindrops, but it’s the umbrella that keeps you from getting soaked. The same can be said of an umbrella insurance policy. It can keep your high net worth (HNW) clients from getting financially soaked. As with any insured, a HNW client will have separate policies for […]
April 18, 2023
3 min read
With travel returning to pre-pandemic levels and Canadians starting to feel comfortable among others again, many of your high net worth (HNW) clients will be jet-setting once again. While an umbrella insurance policy will cover your client while they’re travelling internationally, you’ll want to ensure they schedule the items they’re bringing along. “It’s a good […]
April 18, 2023
2 min read
Canada’s Top 5 insurers — Intact, Aviva, Desjardins, TD Insurance and The Co-operators — wrote a combined 42% of the insurance business in the country in 2022, but each showed different growth trends, MSA Research said in its latest quarterly outlook report. Overall, Intact has a commanding lead. Intact wrote $14 billion in direct written […]
By Jason Contant | April 13, 2023
2 min read
Editor’s Note: This updated version of the article corrects the industry’s net investment income from -$61,400 to -$61.4 million. And $1.1 million OCI has been updated to $1.1 billion. Canadian Underwriter apologizes for the errors. A combined ratio of 85.4% and solid underwriting results at year-end 2022 collided with an escalating interest rate environment […]
By Alyssa DiSabatino | April 12, 2023
3 min read
The economic parameters that marked a tough reinsurance cycle in 2023 won’t be going anywhere in the next year, experts predict in a Canadian Underwriter webinar. However, the extreme rate increases that insurers saw this year won’t be sustainable for future renewals, panellists said during What happened at the January reinsurance renewals? “There […]
By Alyssa DiSabatino | April 11, 2023
3 min read
TORONTO – DesRosiers Automotive Consultants Inc. says auto sales rose 3.7 per cent in March from a year earlier for a fifth month in a row of gains. The consultant says overall there were an estimated 146,000 light vehicle sales for the month among reporting companies. Andrew King, managing partner at DesRosiers, says in the […]
By Jason Contant | April 6, 2023
1 min read
OTTAWA – New reports from the Bank of Canada suggest business and consumer expectations on inflation are moderating, but a potential recession continues to weigh on economic outlooks. The surveys released today show inflation expectations are easing, but consumers and businesses continue to expect inflation to remain above two per cent two years from now. […]
By Jason Contant | April 3, 2023
1 min read
Of the many things keeping your small business clients up at night, their cybersecurity should not be one of them. The frequency and severity of cyberattacks are rising, and small businesses are most vulnerable due to a lack of cybersecurity resources and insurance – in fact, Verizon’s 2022 Data Breach Investigations Report showed 43% of […]
April 1, 2023
3 min read
MONTREAL – A new report finds that small and medium suppliers face growing expectations from their larger customers to report on environmental, social and governance (ESG) standards. The Business Development Bank of Canada (BDC) survey of 121 large companies and public-sector buyers found that already, 82 per cent require some disclosure from their suppliers on […]
By Jason Contant | March 31, 2023
1 min read
EDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion rules were flouted. “The connection between the earthquake sequence and the disposal well injecting into […]
By Jason Contant | March 30, 2023
3 min read