Canadian Underwriter

Topic Business Interruption

News B.C.Business InterruptionClaimsClaims Canada ArchiveClaims ProfessionalsCommercialLegalLoss ControlLoss TrendsRisk Managers

What this Vancouver plaintiff’s lawyer says about pandemic business interruption coverage

October 27, 2020 by Greg Meckbach

A British Columbia lawyer suggests at least half the business interruption insurance policies he has reviewed should cover a client who lost business because of emergency measures imposed to contain the novel coronavirus. “People who have ‘all-risk’ policies should be

News BrokersBusiness InterruptionClaimsClaims Canada ArchiveCommercialEducationInsurersLoss ControlLoss TrendsOntarioRisk ManagersTrusted Advisor

Why reinsurers are now ‘hesitant’ to support some Canadian insurers

October 22, 2020 by Greg Meckbach

One lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital

News BrokersBusiness InterruptionClaimsClaims Canada ArchiveCommercialInsurersLegalOntarioTrusted Advisor

Why brokers are going to get sued over pandemic business interruption claims

October 21, 2020 by Greg Meckbach

Some brokers are going to get sued by clients whose COVID-19 business interruption claims were denied, a keynote speaker warned Insurance Brokers Association of Ontario (IBAO) members Wednesday. “The main area of claim will be failure to advise of potential

News Business InterruptionCommercialInsurersLegalLoss ControlLoss TrendsTrending

What business interruption coverage appeal to U.K. Supreme Court could look like

October 6, 2020 by Greg Meckbach

British insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that

News AlbertaBusiness InterruptionSupply Chain

How to prevent disruptions in food supply chains after COVID-19

October 2, 2020 by John G. Keogh, Strategist, Advisor, Academic Researcher, University of Reading

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site.   Almost all businesses involved in the food supply chain have

News Business InterruptionInsurersLegalRisk Managers

How business interruption verdict impacts trends clauses

September 30, 2020 by Greg Meckbach

If your clients are looking for business interruption coverage arising from the pandemic, a key question is whether there is a “trends clause” in their policy. “In policies with trends clauses, the calculation of loss of business income must take

News Business InterruptionClaimsClaims Canada ArchiveCommercialInsurersLiabilityLoss ControlLoss Trends

Intact warns of indirect economic impact from COVID

September 29, 2020 by Greg Meckbach

The economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said

News Business InterruptionClaimsClaims Canada ArchiveLegalRisk ManagersTrending

Does COVID lockdown constitute ‘prevention or hindrance of access’ under BI?

September 25, 2020 by Greg Meckbach

Clients who lost business income during the pandemic might not get coverage even if they have coverage for “prevention or hindrance of access,” but this depends on exactly how the policies are worded. The High Court of England and Wales

News Business InterruptionCatastrophesClaimsCommercialCommercial AutoCyberInsurersPersonal Auto

Winners and losers of the COVID-19 quarter

September 24, 2020 by David Gambrill

Although COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one

News Business InterruptionClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEmerging RisksLegalLoss TrendsRisk Managers

How Canadian courts could be influenced by U.K. business interruption test case

September 23, 2020 by Greg Meckbach

A recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the

News Business InterruptionClaimsClaims Canada ArchiveLegalLoss ControlLoss TrendsRisk Managers

Why restructuring firms are looking at their clients’ business interruption insurance 

September 22, 2020 by Greg Meckbach

Some clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for

News BrokersBusiness InterruptionInsurersTrending

What brokers can expect to see in the quota share subscription business

September 21, 2020 by Adam Malik

Brokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use,