Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that…
An insurance policy exclusion for vacancy applies, even when an insured has arranged for people to look after the vacant property on a daily basis, so long as there is no intention to inhabit the place again, the Ontario Superior…
Canadian P&C insurers are banding with Canada Mortgage and Housing Corporation (CMHC) to push for the disclosure of a real estate “climate score,” indicating the likelihood of a building or property being damaged during a natural catastrophe. Insurance Bureau of…
Hospitality was the sector hardest hit by the pandemic in Canada, but that industry was already challenged with access to capacity prior to both the pandemic and the current hard market, Deloitte said in a recent report. The impacts of…
Specialty managing general agent (MGA) RAISE Underwriting in Toronto announced an agreement to acquire Mississauga-based independent MGA United Surety. The acquisition is scheduled to close January 1, 2022. RAISE CEO Matt Baynton said in a press release Nov. 4, “By…
A trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across…
At the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a…
The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,…
Cost management needs to become a top priority if the property and casualty insurance industry wants to slow down the rise in premiums for the real estate sector. And to do that, an expert explained, both industries — insurance and…
There’s not enough collaboration between stakeholders in Canada’s real estate sector and risk professionals with information about natural hazards, and real estate investments could drown as a result, an expert warned. If real estate is constantly being exposed to damage…
Beazley has launched its local environmental coverage in Canada with a product suite tailored to the specific market. The suite includes the ECLIPSE (fixed site) form, the ENVIRO (contractors’ pollution legal liability) form and the BeazleyOne (combined) form. Limits are…
Irvine, Calif.-headquartered Digital Map Products, Inc. (DMP), a geospatial mapping technology and intelligence firm, announced on Wednesday that it has acquired DMTI Spatial from Neopost Canada. The “acquisition of Canada’s market leader in location-based information and data quality expands DMP’s…