Keyword
commercial lines
How de-globalization will generate $33 billion in commercial premiums
September 9, 2022 by David GambrillCountries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial…
Commercial rate increases starting to uptick in 2022
August 23, 2022 by Alyssa DiSabatinoCommercial lines premium renewal rate increases are slowing down compared to last year, but since the beginning of 2022, renewal rates are starting to uptick again, according to recent findings by Applied Systems. On average, rates across all commercial lines…
New exec for Swiss Re Corporate Solutions revealed
August 22, 2022 by David GambrillSwiss Re Corporate Solutions has appointed Andrea Douglass as senior vice president of customer management in Canada, effective Aug. 29. Douglass will be responsible for strategic relationships with large corporate customers across Canada. Based in Toronto, she will succeed Sarah…
The line that drove Aviva Canada’s 2022 Q1 premium growth
May 20, 2022 by David GambrillCommercial lines premiums at Aviva Canada grew by 17% in 2022 Q1 (13% at constant currency), according to the company’s quarterly financial results. “Sixty per cent of the growth overall [in commercial lines] is coming from rate and about 40%…
How Canada’s top court just bolstered pandemic BI exclusions
April 1, 2022 by David GambrillCanada’s top court has dismissed the appeal in a nuclear reactor case that trial lawyers might have used as a precedent to challenge the physical damage policy exclusions found in many pandemic-related business interruption insurance cases. As is customary, the…
Zurich Resilience Solutions in Canada adds new executive talent
March 2, 2022 by David GambrillZurich Canada is growing Zurich Resilience Solutions (ZRS) in Canada, adding Scott Thomas to the team as the head of ZRS for Canada and Chris Snider as head of sales and distribution. “This investment in ZRS Canada talent is an exciting step on our journey…
Court sides with insurer in multi-million-dollar spat over sublimits
January 21, 2022 by David GambrillB.C.’s Supreme Court has upheld an insurer’s insistence that a mining company’s business interruption losses were subject to a $10-millon sublimit and not to the full policy limit of $250 million. That said, the court did not agree with the…
Pandemic lockdowns make the case for pay-as-you-go commercial insurance
April 14, 2021 by David GambrillAuto insurance has introduced pay-as-you-go options for personal clients, but in the era of business shutdowns to prevent the spread of COVID-19, it seems as though commercial lines could use a similar option as well. Brokers in a LinkedIn thread…
Letter to the editor: Best Terms — the buyer’s point of view
February 26, 2021 BC Risk & Insurance Manager’s AssociationTo the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses…
Editorial: Regulators, leave subscription policies alone
December 7, 2020 by David GambrillWhen it comes to regulating “Best Terms Pricing” in Canada, Canadians, politicians and insurance regulators be forewarned: Be careful what you wish for. Banning the practice in a hard commercial lines market could wind up making things worse for consumers,…
Financially, which of your clients are hurting the most?
August 7, 2020 by David GambrillCanadian construction and real estate development companies appear to be hurting the most during the pandemic, according to bankruptcy records kept by the federal government. Twenty-seven Canadian companies have been granted creditor protection since the novel coronavirus was declared a…
Hotels sue Aviva Canada for $150 million in proposed BI class action
July 27, 2020 by David GambrillLerners LLP has filed a proposed $150-million class-action lawsuit against Aviva Canada on behalf of hotels across the country, claiming that the hotels are entitled to coverage for loss of business income relating to COVID-19. “We know these are challenging…