Keyword
business interruption
Here’s what creates risks for hospitality providers in 2024
February 26, 2024 Philip PoradoAs Canada eases out of the COVID-19 pandemic, the country’s restaurateurs, hoteliers, and event venue operators face a multitude of risks. Changes over the past four years have hospitality providers swimming in a toxic soup of pandemic-stunted social habits, inflation-dented…
Does Canada need a pandemic backstop, too?
January 19, 2024 by David GambrillCanada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of…
What worries Canadian businesses about Quebec’s language law
November 22, 2023 by Jason ContantQuebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,…
Aon reveals top risk exposure for Canadian companies in 2023
May 18, 2023 by David GambrillCanadian businesses are seeing a rise in the cost of their business interruption claims, causing BI to be one of their top risk concerns in 2023, according to a new report by Aon Canada. “The sources of business disruption for…
Growth? Maybe. Why carriers aren’t promising a soft market yet
May 11, 2023 Alyssa DiSabatinoBeyond the obvious threats of inflation and a possible economic downturn later in 2023, a confluence of other issues is triggering duress for brokers and insurers, which has carriers cautioning the hard market isn’t over yet. Taken together, these factors…
Aviva reveals Number 1 risk facing Canadian businesses
May 3, 2023 by Jason ContantEconomic uncertainty remains the Number 1 risk facing Canadian businesses, according to Aviva Canada’s second annual Risk Insights Report. Based on a survey of nearly 1,500 Canadian business leaders, the report found one in three businesses stated they were “very…
Aviva loses bid to quash class action for COVID-related BI losses
March 28, 2023 by David GambrillOntario’s Superior Court has certified a class action lawsuit by a window and door manufacturer against Aviva Canada related to the insurer’s broad denial of pandemic-related business interruption claims. In doing so, the court rejected Aviva’s motion to have the…
How insurers narrowly avoided ‘catastrophic’ business interruption claims
December 6, 2022 by Alyssa DiSabatinoBusiness interruption (BI) and related losses from the coronavirus pandemic could have been ‘catastrophic’ for insurers had policy wordings not been precise enough to prevent massive payouts following court challenges, credit rating agency DBRS Morningstar says in a new commentary. …
2 risks keeping these business leaders up at night
July 12, 2022 by Alyssa DiSabatinoQuébec businesses are more likely to prioritize business interruption and environmental risks than their counterparts in the rest of the country, according to a new report by Aviva. However, both Québec and the rest of Canada are equally keen on…
Insurers winning court battles to enforce pandemic BI arbitration
April 4, 2022 by David GambrillQuebec insurers with arbitration clauses written into their business interruption policies are winning battles to have pandemic BI class action suits go through arbitration rather than through the courts. Both of law firm Clyde & Co.’s Top 2 cases of…
Where insurers are at with Canadian pandemic BI litigation
March 9, 2022 by David GambrillCanadian courts are dealing with pandemic business interruption (BI) cases at a glacial pace compared to those in the U.K. and the United States, prompting some legal observers to call for judicial reform. “As the pandemic extends into its third…
Are businesses covered for damage caused by the Freedom Convoy?
February 7, 2022 by Alyssa DiSabatinoMore than a week after the “freedom convoy” rolled into Ottawa, some in the P&C industry are discussing whether or not business interruption claims due to civil disobedience are insured risks. Ottawa’s downtown centre has been paralyzed with vehicles…