The Manitoba government is planning to end its ban on homegrown recreational cannabis — a move that would leave Quebec as the only province with such a restriction. “We’re just allowing Manitobans to have the same rights that people in… The post Manitoba government plans to lift ban on homegrown recreational cannabis appeared first on Canadian Underwriter ..read more

While a new key performance indicator (KPI) under IFRS 17 was intended to replicate the well-known combined ratio, this equivalence might not hold true in practice when all components and complexities of a real profit and loss statement (P&L) are… The post Which IFRS 17 combined ratio should you use? appeared first on Canadian Underwriter ..read more

Your clients’ cars store a lot of their personal data — from biometrics to driving habits, phone contacts, and more — and that can expose them to cyber-attacks. Modern cars use sensors and connected technology to make driving easier, safer… The post How clients’ auto data is being breached by thieves, hackers appeared first on Canadian Underwriter ..read more

? Exciting News! ? Join us for ORIMS Professional Development Day on May 08th! ? ? Explore Innovative Approaches to Claims Management with Michael Blinick, Partner at MBBM Lawyer. Gain insights into navigating backlogged legal systems and optimizing claims outcomes.… The post ORIMS PD Day “FORWARD FOCUS: EMPOWERING TOMORROW’S RISK LEADERS” appeared first on Canadian Underwriter ..read more

Voir français ci-dessous TORONTO, ON, APRIL 23, 2024/insPRESS/ – The Board of Directors of the Property and Casualty Insurance Compensation Corporation (PACICC) approved a first-time implementation of its new inflation-adjusted limits for Personal Property and Automobile lines of business at… The post PACICC Board makes inflation adjustment for personal lines benefit limits First-time implementation of new inflation-protection policy appeared first on Canadian Underwriter ..read more

Insurers and governments need to work closer together to better educate consumers on why they use territorial ratings, claims experts say. In addition, governments need to invest better supports and infrastructure so vulnerable communities aren’t disproportionately impacted by territorial ratings… The post Better public education needed around territorial auto rates: industry appeared first on Canadian Underwriter ..read more

Canada’s property and casualty insurers are starting to discuss a ‘Plan B’ for an earthquake backstop, given the federal government’s slow progress on establishing a national flood insurance program. Insurance Bureau of Canada president and CEO Celyeste Power talked about… The post Insurers to discuss ‘Plan B’ for federal earthquake insurance backstop appeared first on Canadian Underwriter ..read more

Fast-paced electric vehicle (EV) sales could sharply change the auto insurance pricing dynamic, says a new report from Morningstar DBRS. “More than 15 countries, including the United Kingdom, Japan, and Canada, have initiated climate policies mandating 100% zero-emission vehicle (ZEV)… The post What EV accidents mean for auto insurance pricing appeared first on Canadian Underwriter ..read more

Susanne Langan first noticed the Burgess Creek wildfire from her home in British Columbia’s Cariboo region on Saturday afternoon as a distant, thin column of smoke. But as winds picked up that night, the flames became more aggressive. “I could… The post ‘Trees going up like Roman candles’ as fire season starts early in B.C., Alberta appeared first on Canadian Underwriter ..read more

Emphasizing the Uniqueness of the Policy TORONTO, ON, APRIL 23, 2024/insPRESS/ – CHES Special Risk, a leading MGA in Canada, introduces a specialized comprehensive insurance coverage tailored specifically for high-value homes. In a landscape where unforeseen adversities pose threats to… The post Canadian MGA Offers Extensive Coverage for High-Value Homes: appeared first on Canadian Underwriter ..read more