Canadian Underwriter

Topic Business Interruption

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News Business InterruptionClaimsCommercialInsurersLegalLiabilityRisk Managers

Insurers winning court battles to enforce pandemic BI arbitration

April 4, 2022 by David Gambrill

Quebec insurers with arbitration clauses written into their business interruption policies are winning battles to have pandemic BI class action suits go through arbitration rather than through the courts. Both of law firm Clyde & Co.’s Top 2 cases of

Nuclear power plant after sunset. Dusk landscape with big chimneys.
News Business InterruptionCatastrophesClaimsInsurersLegalLiabilityOntario

How Canada’s top court just bolstered pandemic BI exclusions

April 1, 2022 by David Gambrill

Canada’s top court has dismissed the appeal in a nuclear reactor case that trial lawyers might have used as a precedent to challenge the physical damage policy exclusions found in many pandemic-related business interruption insurance cases. As is customary, the

European Union sanctions Russia.
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Ratings agency suspends commercial activities in Russia

March 30, 2022 by Philip Porado

Getting ahead of a European Union-imposed Apr. 15 sanctions deadline, a major global credit ratings agency specializing in the insurance industry has suspended all commercial activities in Russia. AM Best said it’s also withdrawn all credit ratings on reinsurance companies

Ukraine war's eastern front.
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How war in Ukraine may impact business loss claims

March 25, 2022 by Philip Porado

Canada’s insurers are in a bit of a holding pattern about how war in Ukraine may drive claims activity among businesses with ties to the region. Canadian Underwriter contacted numerous insurers and the consensus on any changes to claims and

Calgary, Canada - May 23, 2015: Sunset over Calgary's skyline with the Scotiabank Saddledome in the foreground. The dome with its unique saddle shape is home to the Calgary Flames NHL club, and is one of the oldest professional hockey arenas in North America.
News AlbertaBusiness InterruptionCommercialInsurersLegal

Calgary Flames sue insurers $125 million for pandemic-related losses

March 23, 2022 by Alyssa DiSabatino

The Calgary Flames have filed a $125-million lawsuit against its insurers to enforce the terms of an all risks insurance policy for “massive losses” due to the COVID-19 pandemic.   The named defendants in the statement of claim filed in

Puzzle pieces representing M&A.
News Business InterruptionHRLegalLiabilityMergers and AqcuisitionsTrending

Five factors driving M&A activity in 2022

March 15, 2022 by Philip Porado

Calendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center

Sculpture of Themis, mythological
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Where insurers are at with Canadian pandemic BI litigation

March 9, 2022 by David Gambrill

Canadian courts are dealing with pandemic business interruption (BI) cases at a glacial pace compared to those in the U.K. and the United States, prompting some legal observers to call for judicial reform. “As the pandemic extends into its third

Paper and pulp mill
News Business InterruptionClaimsCommercialInsurersLegalLiabilityQuebec

Insurers lose privilege bid after mill’s internal explosion investigation

February 11, 2022 by David Gambrill

Six insurance companies and a pulp and paper manufacturing company, Fortress Specialty Cellulose, have lost their bid to have a PowerPoint presentation about the cause of a commercial explosion protected under litigation privilege. In rejecting their argument, the Superior Court

Ottawa Police chief Peter Sloly
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Could Ottawa police be sued for failing to arrest ‘freedom convoy’ protesters?

February 11, 2022 by The Canadian Press

Erika Chamberlain, Professor and Dean, Faculty of Law, Western University – THE CONVERSATION 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

A person holds a sign for the "Freedom Convoy" a cross-country convoy protesting a federal vaccine mandate for truckers, as people rally against COVID-19 restrictions on Parliament Hill in Ottawa, on Saturday, Jan. 29, 2022.
News Business InterruptionClaims

Are businesses covered for damage caused by the Freedom Convoy?

February 7, 2022 by Alyssa DiSabatino

More than a week after the “freedom convoy” rolled into Ottawa, some in the P&C industry are discussing whether or not business interruption claims due to civil disobedience are insured risks.   Ottawa’s downtown centre has been paralyzed with vehicles

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Court sides with insurer in multi-million-dollar spat over sublimits

January 21, 2022 by David Gambrill

B.C.’s Supreme Court has upheld an insurer’s insistence that a mining company’s business interruption losses were subject to a $10-millon sublimit and not to the full policy limit of $250 million. That said, the court did not agree with the

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News Business InterruptionCyber

Canada’s 3 top business risks

January 19, 2022 by Alyssa DiSabatino

Business interruption, cyber incidents, and climate change have been dubbed the Top 3 risks facing Canadian businesses this year, according to a new report.   Although these were Canada’s Top 3 risks, Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer