Canadian Underwriter

Topic
Construction


Covid-19 virus image
News AdjustersClaimsCommercial LinesConstructionEmploymentInsuranceRisk

Does an immuno-compromised adjuster have to return to field work?

November 23, 2022 The CIP Society, Insurance Institute of Canada

For almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a

sea coast houses bracing for a hurricane
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeConstructionInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How hurricane losses will impact pricing and capacity

November 21, 2022 Philip Porado

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”

Many hands putting together a jigsaw puzzle
News BrokersCatastrophesClimate ChangeCommercial LinesConstructionInsuranceMarkets / CoveragesMGAsReinsurance

Covering larger risks? Why subscriptions may be the way of the future

November 18, 2022 Philip Porado

As claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George

Shopping cart representing selling a business
News BrokersCommercial LinesConstructionEmploymentInsuranceMergers and AqcuisitionsProfessional Development

Three options for selling your brokerage

November 11, 2022 Philip Porado

A consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One

Excavator filling the bed of a dump truck
News AdjustersBrokersClaimsClaims CanadaCommercial LinesConstructionInsurance

What do downtime policies cover for truck owners?

October 17, 2022 Kevin Thomas and Tony Militello

Businesses operating trucks can see their livelihoods impacted by unforeseen incidents like mechanical failures, accidents, fires or vehicle thefts. For properly insured businesses, these incidents may result in downtime claims. And those claims often require careful consideration of limitations — because

Fleet of excavator machines for rent
News AssociationsBrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProducts

Westland partners with American association for equipment, event rental coverage

October 6, 2022 by Jason Contant

Westland 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

Tree shredder and specialized dumper truck on a city street
News AdjustersBrokersClaimsClaims CanadaCommercial LinesConstructionInsuranceMarkets / Coverages

How do truck owners calculate downtime claims?

October 5, 2022 Kevin Thomas and Tony Militello

When 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

Construction sites are coping with higher materials costs
News BrokersClaimsCommercial LinesConstructionInsuranceReinsurance

How a building owner should respond when a contractor’s hit by inflation

September 29, 2022 Derek Sayers

How 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

Old piece of machinery
News BrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Why insurers are rethinking coverage for older machinery

September 22, 2022 Alyssa DiSabatino

Aging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and

Bus splashing through a large puddle on a flooded street
News Climate ChangeCommercial LinesConstructionInsurance

Climate change effect on public transportation infrastructure to cost billions: financial watchdog

September 22, 2022 The Canadian Press

TORONTO – Ontario’s financial watchdog says the effects of climate change are projected to cost the province an extra $1.5 billion a year on average in the next few years just to maintain public transportation infrastructure. A report released today

Is Canada going into recession?
News BrokersCatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsuranceRisk

Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 David Gambrill

If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those

Aerial view of a container ship passing beneath a suspension bridge. Semi truck with pink cargo container crosses above.
News Commercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial