Clients in the hospitality sector who cannot find affordable coverage can now go directly to the Insurance Bureau of Canada for help. IBC has hired a risk manager to help commercial clients improve their risk profile, said Jordan Brennan, IBC’s…
A recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,…
A British Columbia lawyer suggests at least half the business interruption insurance policies he has reviewed should cover a client who lost business because of emergency measures imposed to contain the novel coronavirus. “People who have ‘all-risk’ policies should be…
Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,…
One lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital…
Some brokers are going to get sued by clients whose COVID-19 business interruption claims were denied, a keynote speaker warned Insurance Brokers Association of Ontario (IBAO) members Wednesday. “The main area of claim will be failure to advise of potential…
Teenagers are 3.1 times more likely to follow too closely than drivers older than 45, Manitoba’s auto insurer is warning. Teens are also 3.6 times more likely to lose control or drive off the road than drivers aged 45 and…
Using a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency…
With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or…
How Canada’s P&C insurers plugged a regulatory hole that exposed the industry to millions of dollars in claims every year
Your suppliers are most at risk, and attacks will be costly
Trucking was already going through challenging times. The pandemic isn’t helping. How brokers can help clients navigate their way through the insurance marketplace