Most insurers are concerned about existing digital liability risks, but in as few as three years, they may be confronting commercial liability risks associated with immersive virtual environments known as the ‘metaverse,’ a Geneva Association (GA) survey of liability insurance…
Intact Insurance has lost its bid to recover $2.9 million it paid above and beyond its $5-million insurance policy limit for cleaning up a 2012 chemical spill in North Bay, Ontario. Ontario’s Court of Appeal rejected Intact’s arguments that it…
Canada’s top court has essentially confirmed that an insurer’s duty to defend in a commercial insurance case involving a pollution exclusion will depend on the cause of the legal action. In refusing to hear an appeal by The Co-operators, the…
Slice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
Allied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of…
Brokers should advise commercial clients that commercial property and liability insurance generally exclude losses arising from terrorism. Although special stand-alone coverage is available, the bigger challenge going forward may be the client mindset toward terrorism insurance cover and an apparent lack of concern over potential related risks.
Intact Insurance must participate in the defence of a lessee of commercial property – on a Grimsby, Ont. site formerly occupied by a gas station – which is being sued by a neighbouring property owner alleging that contaminants migrated to…
The merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale…