Topic
Construction
CSIO finalizes standard set of questions for underwriting this commercial line
November 19, 2019 by Jason ContantThe Centre for Study of Insurance Operations’ (CSIO) commercial lines working group has finalized a standard set of questions required for underwriting small contractor new business submissions. “This is a significant step in implementing commercial lines data standards in the…
Simple ways to keep a roof on during a tornado
August 13, 2019 by Jason ContantThe Institute for Catastrophic Loss Reduction (ICLR) and home building company Doug Tarry Homes Ltd. have joined forces for a pilot project on increasing the resilience of homes to high wind and tornado events. High winds contributed in part to…
How oil patch woes impact surety bond losses
July 29, 2019 by Greg MeckbachCutbacks in oil and gas is one reason bond claims have become more frequent in Western Canada, a surety expert for the nation’s largest insurer suggests. A slowdown in the construction market in Alberta – and to some extent in…
How construction clients could be taking on too much risk
July 26, 2019 by Greg MeckbachIf you place insurance for construction clients, they could be signing contracts that saddle them with risks that they should not be taking on. “We are beginning to see tenders coming out where not enough design work has been done…
Quebec’s largest brokerage grows with latest acquisition
June 14, 2019 by Jason ContantLarge Quebec brokerage Lussier Dale Parizeau has acquired the assets of Petrela, Murray, LeBlanc Inc., another brokerage in the province. With the acquisition, Lussier Dale Parizeau now totals $475 million in premium volume, the brokerage said in a press release…
How Ontario got it right on surety
May 30, 2019 by Jason ContantThe federal government should follow Ontario’s lead in addressing contractor insolvency before the federal budget bill becomes law, says the Surety Association of Canada (SAC). The federal budget bill, Bill C-97, was tabled in March and passed second reading on…
Is wind “the new water” for Canada’s insurers?
April 25, 2019 by Jason ContantHigh winds contributed in part to most catastrophes in Canada over the past few decades, prompting the need for a new national standard on wind resilience, the Institute for Catastrophic Loss Reduction (ICLR) said Thursday. A report released by ICLR…
Online basement flood course coming soon
January 30, 2019 by Greg MeckbachAn online version of the Home Flood Risk Assessment Training will be available Canada-wide this March, Blair Feltmate, head of the Intact Centre on Climate Adaptation, said in a recent interview. The course is geared towards insurance brokers, home inspectors,…
The ‘tough decision’ Alberta made to reduce flood risk
January 30, 2019 Lauren Krugel - THE CANADIAN PRESSCALGARY – The Alberta government has now acquired one fifth of the land it needs for a controversial reservoir west of Calgary that would help protect the city from another massive flood. Transportation Minister Brian Mason said Tuesday the province…
Insurer involvement urged in the building code process
January 24, 2019 by Jason ContantThe Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of Canada (IBC) want to restore direct insurance industry involvement in the building code process. “At some point in the distant past, perhaps four decades ago or more, the Canadian…
Cars submerged in flooded Montreal tunnel
November 21, 2018 THE CANADIAN PRESSMONTREAL – A broken water pipe has flooded a tunnel on a major Montreal artery, submerging three cars. The west-end Atwater tunnel connecting downtown and neighbourhoods to the southwest flooded Tuesday morning after utility workers accidentally punctured the pipe. It…
Condo deductible dispute arises from 60-gallon flood
November 19, 2018 by Greg MeckbachWhen a store on the main floor of a condo building suffered $25,000 in losses from a flood, the strata corporation was on the hook for the $5,000 deductible. The strata corporation tried to recover the $5,000 deductible from a…