Topic
Commercial Lines
How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption
August 9, 2021 by Greg MeckbachLloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…
The many shapes of recovery
August 1, 2021 David Gambrill, Editor-in-ChiefWill the post-COVID recovery follow the shape of a V, U, W, or square-root symbol? It all depends on the insurance.
Gallagher no longer buying major Willis Towers Watson assets
July 30, 2021 by Greg MeckbachA bunch of Willis Towers Watson plc workers, who anticipated that their divisions were being sold to Arthur J. Gallagher & Co., will be staying with Willis Towers Watson after all. Rolling Meadows, Ill.-based Gallagher announced July 26 that a…
M&A deal sees brokerage expand into the child and youth care space
July 22, 2021 by David GambrillWith the Ontario government poised to pump more funding into child care services, the timing was right for brokerage McFarlan Rowlands to acquire Magenta Insurance Professionals, a niche insurance broker focused on children and youth activities, says McFarlan Rowlands CEO…
Why boat insurers are starting to feel more like car insurers these days
July 15, 2021 Canadian UnderwriterBoats with high-tech safety gadgets are starting to look a lot more like cars nowadays — and that means more expensive and difficult repairs, as Aviva Canada reports. “The big trend we are seeing right now in watercraft is big…
Doubled pricing, two-year recovery predicted for cyber lines, post-COVID
July 13, 2021 by David GambrillBrokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again. “I think the price has to reflect the…
Looking for a quick D&O rebound after COVID? Don’t hold your breath….
July 9, 2021 by David GambrillBrokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures…
Why liability insurance did not cover the defence of a remediation order
June 18, 2021 by Greg MeckbachAn eastern Ontario municipality does not have coverage with any of its four former liability insurers for a dispute with the provincial environment ministry over alleged pollution occurring more than six decades ago. That’s because the insurance policies in question…
How to sell insurance to a solo entrepreneur in under a week
June 14, 2021 by Greg MeckbachA major pain point for gig-economy entrepreneurs is the traditional process of getting commercial coverage, a Vancouver insurtech CEO suggests. “It is tough being a solo entrepreneur, especially now,” said Jeff McCann, CEO Apollo Insurance Solutions Ltd. “These people are…
How the hard market is changing commercial underwriting
June 9, 2021 by Greg MeckbachThe ongoing hard market means underwriters are asking commercial clients more in-depth questions about their organizations’ risk management practices and culture, suggests the new CEO of the Canadian Universities Reciprocal Insurance Exchange. “We are very much in a hard market,”…
In pollution claim, ‘sudden’ could mean several months, court finds
June 8, 2021 by Greg MeckbachInsurance coverage for a “sudden and accidental” release of diesel fuel can include a discharge that continued over several months, the Nova Scotia Court of Appeal has ruled in a commercial coverage dispute. As a result of Zurich Insurance Company…
Insurers faced with barrage of COVID-19 coverage disputes
June 3, 2021 by Greg MeckbachMore than a dozen coverage disputes arising from business interruption from lockdowns and restrictions during the COVID-19 pandemic are making their way through Ontario courts. Law firm McCarthy Tetrault has served 17 individual statements of claim with the Ontario Superior…