Topic
Commercial Lines
BrokerLink reaches milestone with latest deals
October 12, 2022 by Jason ContantBrokerLink has made its 19th and 20th acquisitions of 2022 with the purchase of two Ontario brokerages. The Intact Financial Corporation subsidiary said L&M Dallaire Insurance Ltd. and Cryderman Insurance Brokers Ltd. joined BrokerLink effective Oct. 1. Both brokerages offer…
Condo association calls for changes to help corporations recoup losses
October 11, 2022 by Jason ContantQuebec’s association representing condo corporations is reiterating a call on the newly re-elected provincial government to amend the Civil Code of Quebec to allow condo corporations to better recover losses from co-owners. Currently, condo corporations (called syndicates in Quebec) are…
Are driver shortages fuelling a spike in Alberta trucking claims?
October 11, 2022 Philip PoradoBorder crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified…
How large property loss claims can become larger — and how to avoid it
October 7, 2022 by Alyssa DiSabatinoA large property loss claim can be worsened by theft or adverse weather events during the initial logistics stage if insurers don’t act quickly, a contractor expert warned during the Ontario Insurance Adjusters Association’s claims conference in Toronto Wednesday. Insurers…
Westland partners with American association for equipment, event rental coverage
October 6, 2022 by Jason ContantWestland Insurance Group and the American Rental Association (ARA) have announced an exclusive partnership to deliver insurance solutions to ARA members across Canada. ARA is an international trade association for owners of equipment and event rental operations, as well as…
How do truck owners calculate downtime claims?
October 5, 2022 Kevin Thomas and Tony MilitelloWhen a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due…
How commercial insurers can mitigate claims costs
October 4, 2022 by Alyssa DiSabatinoAlthough inflationary pressures are adding to the cost of first- and even third-party property claims, commercial insurers can leverage their global resources to reduce these costs, says a commercial insurance exec. “[Inflation] affects the cost to restore a building,” said…
How reinsurers view the rise of MGAs: a flash in the pan, or sustainable?
October 3, 2022 David GambrillGlobal reinsurers are looking at the current rise of managing general agencies (MGAs) with a critical eye, questioning whether the phenomenon will be long-lasting, or simply a fad rooted in a hard-market demand for capacity. “At the risk of sounding…
What happened to the ‘quiet’ hurricane season?
September 30, 2022 by Jason ContantNot long ago, hurricane season began very quietly with no North Atlantic hurricanes in all of August. But now it appears 2022 could produce a record-breaking hurricane. Property data provider CoreLogic is predicting Hurricane Ian could be the costliest Florida…
How a building owner should respond when a contractor’s hit by inflation
September 29, 2022 Derek SayersHow can you prevent construction claims stemming from disputes over project costs that rise due to inflation? For construction project owners, the simplest way to control escalating costs may appear to be sticking to the contract price. The contractor bid…
Fire causes ‘considerable’ damage to Nunavut observatory
September 29, 2022 The Canadian PressRESOLUTE, Nunavut – An observatory in Resolute, Nunavut, has been damaged by fire. RCMP say the building was empty when police responded to the structure fire on Tuesday. While no injuries were reported, the blaze destroyed the observatory’s living quarters…
How to use captives to manage employee benefits risks
September 28, 2022 Mauricio SuarezBy recent counts, more than 7,000 captive insurance companies exist globally, used primarily by multinational companies to take control of various risks. And yet, fewer than 200 of them are used to write employee benefits (EB) risks. Which means less…