Segment
Risk Management
Top 2025 risk for Canadian businesses
January 15, 2025 Philip PoradoBusiness interruption (BI), including supply chain disruption, is this year’s Number 1 risk for Canadian companies, says Allianz’s 2025 Risk Barometer. And Canada’s not alone. Globally, the insurer notes BI is also the top risk in the Asia Pacific region…
Political uncertainty could derail major carbon capture project: experts
January 10, 2025 Amanda Stephenson – The Canadian PressCALGARY – The fate of Canada’s largest proposed carbon capture and storage project is even more uncertain after Prime Minister Justin Trudeau’s resignation announcement this week amplified existing unknowns around the future of energy and climate policy in Canada, experts…
FSRA seeks comments on fast-track rating filings
January 10, 2025 Philip PoradoOntario’s financial services regulator (FSRA) is requesting industry comments on the fourth and final chapter of its proposed Automobile Insurance Rating and Underwriting Supervision Guidance – which addresses principles-based approaches to auto insurance product, rate and underwriting filing reviews. “The new…
Climate change is coming for Canada’s critical transport infrastructure
January 7, 2025 Natasha Bulowski, Local Journalism Initiative Reporter, Canada's National Observer (from the Canadian Press)When southwestern British Columbia was hit with the historic 2021 atmospheric river, the Port of Vancouver’s operations ground to a halt, stalling billions of dollars in trade for a week. And that’s only the beginning of the upheaval extreme weather…
2025 Executive Outlook | T. Marshall Sadd, Navacord
January 2, 2025 Canadian Underwriter StaffData suggests the hard Canadian insurance market started sometime in 2018, led by the energy and transportation sectors, before spreading across the industry. For us, that rating environment lasted until early 2024 when the commercial insurance market quickly softened. As…
2025 Executive Outlook | Celyeste Power, Insurance Bureau of Canada
January 1, 2025 Canadian Underwriter StaffIn the span of just five weeks this past summer, Canada saw five natural disasters: three major floods in Ontario and Quebec, the Jasper wildfire and a record-breaking hailstorm in Calgary. These events resulted in more than a quarter of…
2025 Executive Outlook | Stéphane Lespérance, Aon Canada
December 26, 2024 Canadian Underwriter StaffThe market is evolving at a rapid pace and a variety of factors are influencing trading dynamics. An easing of some pressures, such as the reduction of interest rates and inflation, is providing beneficial tailwinds to the market. Others, such…
2025 Executive Outlook | Nick Creatura, CNA Canada
December 20, 2024 Canadian Underwriter StaffAs we move into 2025, the significant macro trends and challenges that have shaped 2024 will continue to influence the Canadian commercial insurance market. The following factors will be top of mind: Climate change adaptation — Effective risk management, resilience…
Your clients want the holidays to be ‘fire’ but not like this
December 11, 2024 Philip PoradoWill your clients unknowingly bring holiday gifts into their homes this year that have the potential to burn down the house? Sadly, the answer has a growing chance of being ‘yes’ since the lithium-ion batteries powering many electronic devices given…
How ‘pandemic bounce back’ creates new risks
November 29, 2024 Philip PoradoWhile COVID-19 is waning, its impact on both market demand and global supply chains continues to alter risk profiles for large-scale projects across Canada. The impact is particularly apparent in Canada’s commercial and residential construction sectors. “We’re still seeing extended…
N.B. town raises tax rate to fund flood mitigation
November 28, 2024 Andrew Bates, Local Journalism Initiative Reporter, Telegraph-Journal (from the Canadian Press)SUSSEX, N.B. – A year after dropping its tax rate by two cents, Sussex is raising it again to tackle a “significant investment” in flood mitigation and other capital programs. Sussex council approved its 2025 general budget at a council…
What OSFI has on its P&C insurance agenda
November 27, 2024 by Jason ContantCanada’s solvency regulator plans to release a “top-of-the-house risk management guideline” in 2025 as part of its policy review initiative for federally regulated financial institutions. “We are looking at ways to simplify our guidance…so we’re looking at a top-of-the-house risk…