Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
The insurance marketplace has been in a ‘soft’ phase for several years. The hallmarks of a soft market are an oversupply of insurance capacity and, with it, a downward pressure on pricing. There is no sign this is about to…
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The results of a survey released by Kanetix.ca last week revealed that one in four Canadians are ready and cannot wait for the arrival of the driverless car. In addition, Canadians felt that driverless cars would improve safety and greatly…
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Our industry widely supports the Insurance Institute’s Chartered Insurance Professional (CIP) designation, and we’re telling Canadians why. Canada’s p&c industry values the designation because it helps insurance professionals serve the public better. Fundamentally, the CIP gives insurance professionals the knowledge…
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As this headline indicates, 2015 may go down as the worst year ever for wildfires in British Columbia. While, to date, insured damages have been relatively low (despite 29 homes being lost in Rock Creek), suppression costs have been well…
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On June 18, 2015, the Digital Privacy Act received Royal Assent and is now law in Canada. The Act amends PIPEDA in a number of ways, but there are three major changes that insurers need to know about: Organizations must…
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A major complaint levelled against the insurance industry is that it has failed to provide coverage for consumers who, through no fault of their own, have seen their homes and belongings destroyed by flood. With the announcement by Co-operators that…
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Most people, at some point in their career, decide to explore their career options. It could be dissatisfaction with the current job, a feeling that it’s time for a change, or simply a desire to see what else is out…
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Prompted by an invitation from the organizers of the Multaqa insurance conference to join a business leaders’ roundtable earlier this week in Qatar, a couple of frantic hours reading up on the subject of our discussion, the digital transformation of the insurance industry, turned out to be time very well spent. Of little surprise was […]
The National Building Code and the building codes of each province and territory in Canada are some of the best in the world, as are local building inspection practices. And Canadian homebuilders most certainly construct some of the best homes in the world.
But there is always room for improvement, and as severe weather gets fiercer and more pervasive, this need will only become more acute.
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Love is seemingly in the air in 2015 with the engagement of Axis to Partner Re recently announced hot on the heels of the betrothal of Catlin to XL. Guessing who will be next up the aisle is the favourite game in the coffee shops and wine bars of the London Market. Few doubt that […]
Once again a big storm was forecast, once again, it failed to materialize (at least for many New Yorkers and New Jerseyans) and once again meteorologists are being criticized for dropping the ball. What’s more, weather models are also being blamed for at least part of the failure and people are, of course, again making the statement “If I was as wrong as often as the weather man, I’d be out of a job.”
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For anyone waiting for the underwriting market to harden, it would appear they’ll be waiting a little while longer. One of the events that can trigger a tightening of the primary market is a tightening of the reinsurance market. Two…
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Some are calling 2014 a quiet – even a ‘reprieve’ – year for Canadian catastrophe losses. But when you put the year’s $880+ million up against 2013’s $3.2 billion, of course it will look like a quiet year (even a…
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Over the years I have been involved in a few insurer studies regarding the cost of mistakes. The most obvious, to an underwriter, is the cost of re-issuing policy documents processed in error. No one publishes these statistics (too embarrassing),…
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