Canadian Underwriter

Topic
Commercial Lines

News Claims CanadaCommercial LinesRisk

How Northbridge is advising clients to prepare for second COVID-19 wave

September 18, 2020 by Greg Meckbach

One key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that

News BrokersCommercial LinesInsuranceMergers and Aqcuisitions

Intact’s rationale for buying this bond and marine brokerage

September 16, 2020 by Greg Meckbach

Intact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now

News ClaimsCommercial LinesEmploymentInsuranceLegal

P&C industry braces for a ‘second wave’ of COVID liability

September 15, 2020 by David Gambrill

There is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers

News BrokersClaimsClaims CanadaCommercial LinesInsuranceLegalReinsurance

Insurers adding pandemic exclusions in commercial policies that go beyond just BI

September 2, 2020 by Greg Meckbach

Many insurers that did not start adding pandemic exclusions this past July may have to do so in January, a Winnipeg-based executive with commercial brokerage Gallagher reports. “The majority of insurers – or all insurers – are adding specific wording

News Commercial Lines

What could happen when carriers disagree over commercial property pandemic exclusions

August 31, 2020 by Greg Meckbach

With commercial insurers adding pandemic exclusions to property and business interruption, it can be difficult to place a risk with multiple insurers unless they agree on what that exclusion should look like, a Quebec broker suggests. Some clients, especially during

News BrokersCommercial LinesInsuranceMGAsRisk

The impact of MGAs getting more business

August 25, 2020 by Greg Meckbach

It is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now

News ClaimsCommercial LinesInsuranceLegal

Court ruling in hockey claim could lead to more joint defence situations: legal expert

August 19, 2020 by David Gambrill

A recent Ontario Court of Appeal decision, in which a fan was injured by a hockey puck during a game, may lead to a shift toward joint claims handling at the outset of a claim when two insurers are potentially

News Commercial LinesInsurance

Why the hard market reminds Fairfax CEO of 2001

August 14, 2020 by Greg Meckbach

Steep price increases that have hit brokers’ commercial clients will not continue for the long term, but the current hard market is reminiscent of the period after Sept. 11, 2001, when two planes destroyed the World Trade Centre in New

News Commercial LinesMarkets / Coverages

More consolidation expected in Ontario cannabis stores

August 11, 2020 Tara Deschamps - THE CANADIAN PRESS

TORONTO – More than a year after winning the chance to open one of Ontario’s first cannabis stores through a provincial lottery, Lisa Bigioni has walked away from her Niagara Falls pot shop. The store had become like a second

News Commercial LinesInsuranceMarkets / Coverages

Financially, which of your clients are hurting the most?

August 7, 2020 by David Gambrill

Canadian 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

News ClaimsCommercial LinesLegal

Hotels sue Aviva Canada for $150 million in proposed BI class action

July 27, 2020 by David Gambrill

Lerners 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

News ClaimsClaims CanadaCommercial LinesInsurance

How much Intact is paying out for commercial COVID claims

June 12, 2020 by Greg Meckbach

Intact Financial Corp. is likely to pay out more than $80 million for commercial claims arising directly from the COVID-19 pandemic, but has only seen a small fraction of that so far, CEO Charles Brindamour said Wednesday. “The total actual