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Shipwrecked teenager on a barren winter shore. News Insurance

Op-Ed: Federal budget 2024 misses the mark on water-related investments

April 29, 2024 by Canadian Press

Editor’s Note: This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. The authors are Kerry Black, assistant professor and Canada research chair of integrated knowledge, engineering and sustainable…

Eating while driving can cause drivers to crash. News InsuranceMarkets / Coverages

What’s taking Canadian drivers’ eyes off the roads?

April 29, 2024 by Philip Porado

Canada’s well-worn roads are getting more dangerous. Nearly half of Canadian drivers (46%) in a recent online survey say the nation’s roads are less safe today than they were a year ago. The study, conducted by Travelers Canada from Jan.…

Private and Public. Directional arrows on a dark chalk board. News AssociationsClaimsMarkets / Coverages

Public auto in Alberta? Reports cost out the potential impact

April 29, 2024 by David Gambrill

Alberta’s long-awaited reports on auto insurance reform have waded into the controversial topic of public versus private auto insurance. A government-commissioned actuarial report by Oliver Wyman concludes B.C.- or Manitoba-style public auto insurance would lead to more significant premium savings…

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Who says diverse candidates don’t want to be brokers?

April 29, 2024 by Alyssa DiSabatino

A large majority (81%) of brokers believe it’s a myth that there’s a lack of diverse talent available to hire or promote. Yet, when asked about key hiring challenges facing their organizations, lack of skilled diverse talent tops the list,…

News Insurance

Paid Accident Support Services: A three-decade crusade to combating auto insurance crime

April 28, 2024 by Accident Support Services International Ltd.

For the past 30 years, Canadian P&C insurers, brokers and law enforcement have trusted Accident Support Services International (ASSI) to help them effectively manage minor vehicle collisions. Today, ASSI is just as well known for their efforts in curbing Canada’s…

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Cyber claims increasing, despite underwriting refinement

April 26, 2024 by Alyssa DiSabatino

Underwriters have tightened their underwriting controls to better price for cyber risk from its 2021 high, but claims frequency in 2023 has nevertheless increased 13% since the previous year, cyber insurer Coalition reports.  Claims severity across the board also increased…

For sale sign representing brokerage owners having to sell their companies News BrokersInsurance

How brokerage owners want to pass on their businesses

April 26, 2024 by Philip Porado

Where would you like to leave things? It’s a critical question for Canada’s property and casualty (P&C) brokers, especially given the seniority of brokers represented in Canadian Underwriter’s 2024 annual National Broker Survey. More than 200 brokers nationwide shared views…

A First Nation in Sarnia, Ont. has had repeated exposure to benzene News ClaimsCommercial LinesInsuranceRisk

Minister seeking ways to end benzene exposure from chemical plant

April 26, 2024 by Mia Rabson – The Canadian Press

Environment Minister Steven Guilbeault is looking for options to protect a southern Ontario First Nation from repeated exposure to benzene from a nearby chemical plant, as the plant issues a new warning about air pollution. Leaders from Aamjiwnaang First Nation…

Burnt trees in Saprae Creek near Fort McMurray following 2016 wildfire. News AssociationsCatastrophesClaimsClaims CanadaInsuranceMarkets / CoveragesRestoration

Is Fort McMurray still insurable?

April 26, 2024 by Jason Contant

Editor’s note: An earlier version of this article incorrectly stated that the 2016 Fort McMurray wildfire cost nearly $6 billion in insured damage, citing 2016 loss totals for that year from Insurance Bureau of Canada. However, the $6 billion total…

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P&C insurance training enters world of virtual reality

April 25, 2024 by David Gambrill

Could virtual reality mentors help train recruits in the property and casualty insurance industry? It may sound futuristic, but early iterations of virtual reality and AI-based learning are already being used to help onboard new hires in the industry, panellists…

Bad driver nearly gets into an accident News InsuranceMarkets / Coverages

Does Alberta’s auto insurance rate cap reward bad drivers?

April 25, 2024 by David Gambrill

Alberta’s new 3.7% cap on auto insurance rate increases for good drivers may wind up hurting the province’s well-mannered motorists more than it helps them, industry sources tell Canadian Underwriter. “Your carrier probably wants to reward you for [being a…

A woman in a pink hijab smiles and points to the tablet in her hand, while a woman in a blue hijab looks over her shoulder News BrokersCommercial LinesInsuranceMarkets / Coverages

Shariah-compliant insurance product launched in Canada

April 25, 2024 by Alyssa DiSabatino

Ches Special Risk has launched Canada’s first Shariah-compliant insurance product under the name Ethical Insurance. The product conducts insurance transactions based on principles of Islamic finance — also known as Takaful — and excludes investments or coverage of industries that…