Risk
It will take insurers an “extended period of time” to convince even one-quarter of Quebec property owners to buy adequate coverage, an industry executive suggests. Only three to four per cent of homeowners near Quebec City have earthquake coverage, Edouard Schmid, group chief underwriting officer for Swiss Re, said Tuesday during the reinsurer’s 33rd annual […]
By Greg Meckbach | April 12, 2018
2 min read
Canada is seeing a lot more consolidation in the broker channel as some manufacturers seek to guarantee delivery of their product, an analyst told Canadian Underwriter Monday. “In the Canadian landscape, the broker channel is important to all of the manufacturers, particularly on the P&C side,” said Ron Stokes, partner at Ernst & Young Canada […]
By Jason Contant | April 9, 2018
Gallagher has recently strengthened its focus on building national industry practices such as trucking with the acquisition of specialist commercial insurance broker Palmer Atlantic. Gallagher has identified long-haul transportation as a priority market segment, and that made Palmer Atlantic a natural choice for an acquisition, according to Phillip Gaunce, the Atlantic region president and chief […]
By David Gambrill | April 9, 2018
3 min read
Chubb Ltd. is willing to lose customers if they are not willing to pay higher prices for insurance. “We sacrifice market share (though not happily) in order to maintain an underwriting profit,” Evan Greenberg, chairman and CEO of Chubb Ltd., wrote in the Swiss-based insurer’s annual report for 2017, recently posted to its website. “Underwriting […]
By Greg Meckbach | April 7, 2018
A guideline on how to treat consumers, released Tuesday by the Financial Services Commission of Ontario, applies to property and casualty insurers, FSCO-licensed agents, and other financial services professionals. Financial service providers should “conduct a thorough needs analysis to fully understand the consumer’s objectives and needs based on the facts and information obtained from the […]
By Greg Meckbach | April 5, 2018
A set of lawsuits arising from industrial properties allegedly polluted before the current owners bought them is making its way through the Ontario courts. Risk managers at any organization owning or managing property should be aware of the liability from contamination caused by a previous user of that property, Calgary-based risk consultant Darius Delon told […]
Geographic and cultural fit drove London, Ont.-based McFarlan Rowlands‘s decision to acquire DA Kurt Insurance Brokers of Kitchener, Ont., McFarlan told Canadian Underwriter. The deal is expected to close on April 30. “The DA Kurt team prides themselves on providing professional advice and personalized service, which is something McFarlan Rowlands places great emphasis on as […]
By Jason Contant | April 3, 2018
Facing the distinct possibility of a political regime change in Ontario, the province’s auto insurers and brokers are calling on all of the province’s political parties to keep their eyes focused on auto insurance reform as the way to deliver low rates to consumers. For Insurance Bureau of Canada (IBC), representing Canada’s home, auto and […]
By David Gambrill | March 29, 2018
With Canadian companies facing the prospect of new tariffs for exports to the United States, the uncertainty over the North American Free Trade Agreement should be “front and centre” for risk managers, a KPMG expert told Canadian Underwriter Thursday. “You hear a lot of discussion in the media about the potential for the United States […]
By Greg Meckbach | March 26, 2018
Canada’s property and casualty industry has been sounding the alarm for many years about risks associated with climate change, and stakeholders are finally starting to answer the call. Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), and Louis Gagnon, president of Canadian operations at Intact Insurance, both told Canadian Underwriter in a conference […]
By David Gambrill | March 17, 2018
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
