Topic
Risk
IBC talking to feds about future pandemic risk transfer
November 2, 2020 by Greg MeckbachThe Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the…
How IBC plans to help restaurants find insurance
October 29, 2020 by Greg MeckbachClients in the hospitality sector who cannot find affordable coverage can now go directly to the Insurance Bureau of Canada for help. IBC has hired a risk manager to help commercial clients improve their risk profile, said Jordan Brennan, IBC’s…
This decision on a $5,000 deductible could motivate condo corporations to change their bylaws
October 28, 2020 by David GambrillA recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,…
Industry execs to discuss how to navigate the condo insurance market
October 23, 2020 by David GambrillSelling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,…
How auto insurers are promoting National Teen Driver Safety Week
October 20, 2020 by Greg MeckbachTeenagers are 3.1 times more likely to follow too closely than drivers older than 45, Manitoba’s auto insurer is warning. Teens are also 3.6 times more likely to lose control or drive off the road than drivers aged 45 and…
How COVID-19 has changed cyber underwriting
October 19, 2020 by Greg MeckbachWith loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or…
Gushing over oil storage
October 18, 2020 Michael Freill, President, Mark 1 EngineeringHow Canada’s P&C insurers plugged a regulatory hole that exposed the industry to millions of dollars in claims every year
The growing need for cybersecurity in supply chain management
October 17, 2020 Alexandra Wright, Jackie Vergne and Ken Rayner, Cyber Insurance Solutions Inc.Your suppliers are most at risk, and attacks will be costly
Why this client can only recover $50,000 on a $2.7-million commercial crime claim
October 16, 2020 by Greg MeckbachAn electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance…
What Canada’s Supreme Court says about employers’ liability for bonuses
October 15, 2020 by Greg MeckbachA constructive dismissal award against a Halifax-based fish oil maker of nearly $1.1-million has been restored by the Supreme Court of Canada. When it comes to employment practices liability, a key lesson from Matthews v. Ocean Nutrition Canada Ltd., released…
Why the court found the landlord responsible for this winter roof collapse
October 13, 2020 by Greg MeckbachA courier firm has successfully sued its landlord for $188,000 after the roof of its Halifax area warehouse collapsed under the weight of snow and ice. In Transport Canpar L.P. v. 3258042 Nova Scotia Limited, released Oct. 8, Justice Richard…
A business refuses to enforce public health regulations. Is it liable?
October 13, 2020 by Greg MeckbachCommercial clients who fail to follow local health regulations could be considered a “moral hazard” to insurers, but liability claims under such circumstances during the COVID pandemic will not necessarily be denied, a Toronto commercial broker suggests. Commercial general liability…