Topic
Claims
How COVID-19 can trigger a ‘force majeure’ or ‘act of God’ clause in a contract
October 7, 2020 by Greg MeckbachThe COVID-19 pandemic could be considered an “act of God,” but that doesn’t necessarily mean a client can recoup a deposit for cancelling a large gathering, a recent British Columbia Civil Resolution Tribunal ruling suggests. While most property and casualty…
What Gore Mutual advises about winter tires
October 6, 2020 by Greg MeckbachOntario auto clients should start thinking soon about their seasonal tire change, an executive with Gore Mutual suggests. “As we get further into fall and temperatures begin to drop below seven degrees Celsius, motorists should definitely begin thinking about changing…
What business interruption coverage appeal to U.K. Supreme Court could look like
October 6, 2020 by Greg MeckbachBritish insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that…
Appeal court dismisses lawsuit against Economical over additional insured endorsement
October 5, 2020 by Greg MeckbachA solar energy developer has lost its appeal against Economical in a commercial coverage dispute regarding an additional insured, in which the policy wording referred to “liability arising out of the operations” of the insured. “Contractual insurance obligations and additional…
Doubling down on specialty
October 2, 2020 Greg Meckbach, Associate EditorBernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store
Intact’s plan to help you advise your client on disaster resilience
October 2, 2020 by Greg MeckbachBy the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO…
Fight continues over proposal to acquire property data provider CoreLogic
October 1, 2020 by Greg MeckbachA proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing…
Mud and snow tires in winter prompts another small claim in B.C.
October 1, 2020 by Greg MeckbachBritish Columbia car rental companies that provide mud and snow tires in December or January are keeping the province’s Civil Resolution Tribunal busy. In Fraser v. ICBC, released Wednesday, the CRT ruled against a claimant who sought $5,000 in damages…
How business interruption verdict impacts trends clauses
September 30, 2020 by Greg MeckbachIf your clients are looking for business interruption coverage arising from the pandemic, a key question is whether there is a “trends clause” in their policy. “In policies with trends clauses, the calculation of loss of business income must take…
‘Much clearer picture’ of how Ottawa will address flood risk coming soon
September 29, 2020 by Greg MeckbachA special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,…
Intact warns of indirect economic impact from COVID
September 29, 2020 by Greg MeckbachThe economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said…
Winners and losers of the COVID-19 quarter
September 24, 2020 by David GambrillAlthough COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one…