InsuranceHires

SAVE THE DATE Please join us at our RIMS Canadian Chapter December luncheon. As in the past, we are accepting financial donations and collecting much needed articles (toothpaste, soaps, socks, etc.) for the Ottawa Mission. We will also sell raffle…

The post RIMS Canadian Capital Chapter – SAVE THE DATE – Recent developments in labour law and employment standards appeared first on Canadian Underwriter.

A dirt bike driven in a closed course motocross competition is an “automobile” under Ontario’s auto accident benefits scheme, thus paving the way for a seriously injured driver to claim auto accident benefits from his auto insurer, the Ontario Court…

The post Why this dirt bike in closed competition was considered an “automobile” appeared first on Canadian Underwriter.

Hard market conditions in slow plough insurance are continuing to blow through, if Aviva Canada’s latest rate filing with Nova Scotia’s insurance regulator is any indication. Nova Scotia’s Utility and Review Board approved Aviva’s refinement of its rate surcharge for…

The post Insurance forecast for snow plough operators this season appeared first on Canadian Underwriter.

Gallagher in Canada is seeing some interesting premium trends in liability and commercial auto lines, now that pandemic restrictions are virtually non-existent.  Businesses such as restaurants were shuttered or faced restrictions throughout the peak parts of the pandemic, meaning that…

The post Two welcome commercial premium trends, post-pandemic appeared first on Canadian Underwriter.

CALGARY – The organization representing Canada’s oil and gas drilling sector says it expects more activity in 2023, even as it continues to push the federal government for a new tax credit it says it needs to help the energy…

The post Oil and gas drilling sector expects activity to pick up in 2023 appeared first on Canadian Underwriter.

With the older generation of brokers retiring, opportunities are abound for young brokers who want to buy into an existing independent brokerage, said panellists in Canadian Underwriter’s LinkedIn Live event, ‘How to become a young brokerage owner.’ “[Independent broker owners]…

The post How young, aspiring brokerage owners can outflank the consolidators appeared first on Canadian Underwriter.

Canada announced today a total of $1.6 billion in new federal funding to help communities adapt to climate change by building infrastructure more resilient to natural disasters. The investment is part of the federal government’s new National Adaptation Strategy: Building…

The post How the P&C industry responded to Canada’s National Adaptation Strategy appeared first on Canadian Underwriter.

Your small and medium-sized enterprise (SME) clients need to consider intellectual property (IP) ‘pursuit’ coverage to allow them to take on large corporations to protect their products and market share, a specialist insurance provider told Canadian Underwriter. A business’s ability…

The post Why your SME client needs intellectual property ‘pursuit’ coverage appeared first on Canadian Underwriter.

TORONTO – The union representing public high school teachers in Ontario says it was the victim of a ransomware attack earlier this year that compromised members’ personal information. The Ontario Secondary School Teachers’ Federation says it discovered in late May…

The post Ontario union victim of ransomware attack, notifies members of personal data compromised appeared first on Canadian Underwriter.

CALGARY, AB, NOVEMBER 24, 2022/insPRESS/ – Trufla is excited to announce the launch of their truWeb Dashboard for brokerages. The reporting tool gives brokers direct insight into customers’ buying behaviour by using key metrics, automatically tracked in an easy-to-use dashboard.…

The post Trufla Announces truWeb Data Dashboard for Brokers appeared first on Canadian Underwriter.

TORONTO, ON, NOVEMBER 24, 2022/insPRESS/ – Ecclesiastical Insurance Office plc is excited to announce that Indspire is the recipient of the Benefact Trust Chair’s Award, awarded through the 2022 Community Impact Grant. Community Impact Grants are provided to registered charitable…

The post Ecclesiastical Insurance awards grant to Indspire appeared first on Canadian Underwriter.

Global reinsurers are expected to raise property catastrophe rates “by well over 10%” in exposed areas during January 2023 renewals, a Fitch Ratings report stated. “We expect double-digit percentage premium rate rises for property catastrophe cover in 2023 driven by…

The post What reinsurance renewals could look like on Jan. 1 appeared first on Canadian Underwriter.

For almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a…

The post Does an immuno-compromised adjuster have to return to field work? appeared first on Canadian Underwriter.

Want to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage…

The post Why being a good broker alone won’t cut it for ownership appeared first on Canadian Underwriter.

Hamilton Mayor Andrea Horwath is calling for an investigation after city staff discovered a pipe has been dumping sewage into the local harbour undetected for 26 years. Horwath says she has asked the city auditor to be brought in after…

The post Hamilton, Ont. mayor calls for investigation after sewer leak went undetected for 26 years appeared first on Canadian Underwriter.

Staged collisions in Canada remain a significant concern for auto insurers, particularly in the Greater Toronto Area, where many interconnected players can make these operations difficult to infiltrate, an industry expert said at KPMG’s 2022 Insurance Conference last week. Violent…

The post The spreading tentacles of staged collision operations appeared first on Canadian Underwriter.

Insurance companies should consider investing in genetically-modified, slow-burning trees to mitigate wildfire damage, according to a first-prize pitch at the WinterHack 2022: Design Thinking Ideathon. “We will be taking advantage of state-of-the-art biotechnology and building upon it to create a…

The post Why insurers should invest in genetically modified trees appeared first on Canadian Underwriter.

Claims inflation in Definity Financial Corporation’s auto and property lines appears to be stable, Definity president and CEO Rowan Saunders said during a recent virtual fireside chat with RBC Capital Markets. While inflation is at elevated levels, it’s starting to…

The post How claims inflation is affecting Definity’s auto, property lines appeared first on Canadian Underwriter.

Tides are rising, sands are shifting and coastlines are crumbling. As studies warn of rising seas and accelerated erosion resulting from climate change, coastal communities in Canada are wondering what the future holds. “Living on the coast is part of…

The post Climate Changed: Rising oceans, storm surges ‘disaster in slow motion’ for coasts appeared first on Canadian Underwriter.

TORONTO, ON, NOVEMBER 22, 2022/insPRESS/ – Ecclesiastical Insurance Office plc is pleased to announce a new charitable partnership with Food Banks Canada, joining their movement to end hunger in Canada. To kick off this partnership, Ecclesiastical held food drives in…

The post Ecclesiastical Insurance partners with Food Banks Canada appeared first on Canadian Underwriter.

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”…

The post How hurricane losses will impact pricing and capacity appeared first on Canadian Underwriter.

Canada’s ongoing hard market in cyber has seen most insurers capping their coverage at somewhere between $3-million and $5-million, experts observed in a Gallagher Talks session.   “We’re seeing exclusions for known [software] vulnerabilities [and] capacity restrictions as well,” said…

The post Cyber insurers’ appetites are shifting. Here’s what to expect… appeared first on Canadian Underwriter.

Nav Dhillon will join Aviva Canada as Chief Financial Officer, starting December 2022. “I’m delighted to welcome Nav into Aviva’s executive leadership team,” Aviva Canada CEO Jason Storah said in an announcement. “Nav brings with him a broad range of experience in…

The post Meet Aviva Canada’s new CFO appeared first on Canadian Underwriter.

WIARTON, Ont. – Environment Canada is warning that some parts of southwestern Ontario battered by a record-setting weekend snowstorm could see strong winds this morning and into the afternoon.   More than a metre of snow has fallen on parts of…

The post Record-setting Ontario storm drops more than a metre of snow, strong winds   appeared first on Canadian Underwriter.

Ransomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation.  Organizations are less likely to pay a ransom when their…

The post Organizations more willing to pay ransom for this type of data breach appeared first on Canadian Underwriter.

As claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George…

The post Covering larger risks? Why subscriptions may be the way of the future appeared first on Canadian Underwriter.

Canada’s solvency regulator is acutely focused on the current macroeconomic environment and expects insurers to practice ‘capital conservation’ due to market volatility, a senior executive said at an industry event Thursday. The Office of the Superintendent of Financial Institutions (OSFI)…

The post How OSFI expects insurers to react to market volatility appeared first on Canadian Underwriter.

If you slip and fall on ice within 10-15 feet of your car, the car did not cause your fall, so that isn’t an ‘auto accident’ under the Statutory Accident Benefits Schedule (SABS), Ontario’s Licence Appeal Tribunal (LAT) ruled last…

The post Walking towards your car, you slip and fall on ice. Is this an ‘auto accident’? appeared first on Canadian Underwriter.

OTTAWA – Canada won’t agree to add language calling for the phaseout of all fossil fuels – including oil and gas – to the final agreement at this year’s United Nations climate talks in Egypt, Environment Minister Steven Guilbeault said…

The post Canada won’t back call to ‘phase down’ oil and gas production appeared first on Canadian Underwriter.

Voir français ci-dessous   TORONTO, ON, NOVEMBER 18, 2022/insPRESS/ – Northbridge Insurance has launched a Commercial Connectivity solution for brokers, which enables seamless data exchange and efficient real-time quoting for small business. The solution also harnesses technology to eliminate duplicate…

The post Northbridge launches Commercial Connectivity solution for brokers appeared first on Canadian Underwriter.