Report 4: COVID-19 Canadian Insurance Industry Monthly Aggregate Data Analysis from the Canadian Institute of Actuaries is now available, providing data updated to the end of May 2021. This report series examines the impact of COVID-19 on Canada’s life insurance industry, using key findings to help decision-makers better understand and manage risk.
A new report out today from the Canadian Institute of Actuaries (CIA) highlights data aggregated from 13 insurance companies in Canada for January to June 2020. Individual life insurance claims increased in April and May, at the height of the first wave of COVID-19, compared to the same period in 2019. The percentage of claims that could be attributed to COVID-19 also reached over 12% in April.