Canadian Underwriter

Topic Business Interruption

Cargo airplane flying over container ship in the ocean.
News BrokersBusiness InterruptionCommercialEmerging RisksInsurersLoss ControlLoss TrendsRisk Managers

One emerging threat to your business clients’ supply chains

March 13, 2024 by Alyssa DiSabatino

Geopolitical conflict is wreaking havoc on your business clients’ supply chains, a new Marsh report finds.   It’s required businesses to find better ways to mitigate or transfer specific risks before they develop into something of concern, according to Marsh

Roadblocks to cyber policy sales
News BrokersBusiness InterruptionCommercialCyberEmerging RisksInsurers

Biggest barriers to selling cyber policies

March 1, 2024 by David Gambrill

Product complexity remains a huge obstacle to selling cyber insurance to neophyte business clients, brokers told Canadian Underwriter in a January online survey. A stronger emphasis on cyber education — to clients, brokers, and underwriters alike — is critical to

Busy restaurant that needs to be insured properly
News BrokersBusiness InterruptionCommercialEnvironmentalLoss Control

What brokers need to discuss with hospitality clients

February 16, 2024 by Philip Porado

Hospitality providers are gradually emerging from a pandemic-era slump that nearly scuppered the industry in 2020 and 2021. The new normal, though, means restaurateurs, venue owners and other businesses likely need to review their insurance coverages and consider some very specific

Grouse Mountain in Vancouver
News B.C.Business InterruptionClaimsClaims Canada ArchiveCommercialEnvironmental

B.C. ski resorts shut as warm, wet weather strips mountains of snow

February 2, 2024 by The Canadian Press

VANCOUVER – All three of Metro Vancouver’s local ski hills are closed for a second day at what should be the peak of the season, as a spate of warm, wet weather strips mountains bare. Grouse Mountain and Mount Seymour

Close-up of an insurance policy
News Business InterruptionClaimsClaims Canada ArchiveClaims ProfessionalsClaims TechnologyCommercialInsurersOntarioOperationsTechnology

KPMG buys insurance claims practice

February 2, 2024 by Jason Contant

Professional services firm KPMG in Canada has purchased an insurance claims practice that offers income replacement benefit and related calculations, as well as commercial loss claims calculations for insurance companies and their customers. The acquisition of the claims practice of

Drug and medicine bills concept. Medical debt, health care and treatment cost from Covid-19 disease, hospital expense, broke bankrupt man carrying giant medicine debt burden after cure from COVID-19.
News Business InterruptionCatastrophesClaimsCommercialEmerging RisksInsurers

Does Canada need a pandemic backstop, too?

January 19, 2024 by David Gambrill

Canada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of

Close-up of a book on a binary code abstract background.
News Business InterruptionClaimsClaims Canada ArchiveCommercialCyberOntarioTechnology

Toronto Public Library gradually recovering from hack, more services back next month

January 19, 2024 by Maan Alhmidi - The Canadian Press

TORONTO – Canada’s largest public library system is gradually restoring more of its services after an October cyberattack brought down its website and likely exposed sensitive employee information. The Toronto Public Library said customers will be able to see a

Chef serving food in the modern kitchen in a high-end restaurant
News BrokersBusiness InterruptionCommercialInsurersLiabilityLoss Trends

Why the hospitality hard market won’t end in 2024

December 6, 2023 by Alyssa DiSabatino

Persistent labour shortages, forecasted lower levels of travel, elevated inflation and rising property insurance rates will threaten the hospitality industry’s profitability in 2024, Hub International predicts in its 2024 Outlook series.  Yet, with prolonged periods of government mandated shutdowns, low

Trois-Rivières, Quebec
News Business InterruptionCommercialCyberInsurersLegalOperationsQuebecSupply Chain

What worries Canadian businesses about Quebec’s language law

November 22, 2023 by Jason Contant

Quebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,

High end, ultra-modern manufacturing facility
News Business InterruptionClaimsCommercialCommercial AutoConstructionEnvironmentalInsurersLegalLiabilityLoss ControlLoss TrendsProperty

Tips for insuring properties worth more than $500 million

October 2, 2023 by Philip Porado

Coverage for high-value real estate, defined as sites worth $500 million or more, is often based as much on how those sites are used as on the physical assets themselves. Multi-use sites, where activities like manufacturing, distribution, logistics and management

Commercial real estate for lease or sale
News BrokersBusiness InterruptionCatastrophesClaimsClaims Canada ArchiveCommercialEnvironmentalInsurersLoss ControlLoss TrendsPropertySupply Chain

What’s driving challenges in commercial property?

September 19, 2023 by Jason Contant

Challenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to

Person showing others the way out of a cave
News BrokersBusiness InterruptionClaimsCommercialCyberInsurersLoss ControlLoss TrendsTechnology

Which coverages will lead brokers out of the hard market?

September 5, 2023 by David Gambrill

For several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now