Canadian Underwriter

Topic Business Interruption

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Aon’s take on the state of the Canadian P&C insurance market

September 15, 2020 by Jason Contant

The first quarter of 2020 saw a continuation and acceleration of the Canadian risk and insurance market shift that took hold in 2019, with pricing increases, withdrawn capacity in several key lines of business, tightened terms, and an increasingly rigorous

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Mixed result in British court ruling in business interruption coverage dispute

September 15, 2020 by Greg Meckbach

If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the

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How clients may argue BI covers pandemic if no physical damage occurs

September 4, 2020 by Greg Meckbach

Some clients seeking business interruption coverage arising from the COVID-19 pandemic are looking to the courts for a “generous” interpretation of policy wording, a Canadian lawyer says. “In the context of property damage claims related to the novel coronavirus, many

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Insurers adding pandemic exclusions in commercial policies that go beyond just BI

September 2, 2020 by Greg Meckbach

Many insurers that did not start adding pandemic exclusions this past July may have to do so in January, a Winnipeg-based executive with commercial brokerage Gallagher reports. “The majority of insurers – or all insurers – are adding specific wording

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MGAs finding it harder to place this kind of commercial coverage

September 1, 2020 by Greg Meckbach

If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner

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What could happen when carriers disagree over commercial property pandemic exclusions

August 31, 2020 by Greg Meckbach

With commercial insurers adding pandemic exclusions to property and business interruption, it can be difficult to place a risk with multiple insurers unless they agree on what that exclusion should look like, a Quebec broker suggests. Some clients, especially during

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Why UK insurers say coverage for disease within 25 miles does not apply to COVID business interruption

August 25, 2020 by Greg Meckbach

If a client has business interruption coverage for occurrence of a disease within 25 miles of the property that causes a local government authority to place restrictions on the use of premises, this would not cover widespread lockdowns in case

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Why insurance regulator says this ‘notifiable contagious disease’ clause covers BI in pandemic

August 21, 2020 by Greg Meckbach

Whether business interruption coverage for a notifiable human infectious or contagious disease within a certain distance from the client’s premises actually insures closure due to COVID-19 was a hotly contested issue in a British trial that recently wrapped up. The

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Is the pandemic hiding your commercial client’s under-insurance issues?

August 19, 2020 by Adam Malik

There may be fewer instances of under-insurance related to business interruption during the COVID-19 pandemic era, but brokers can’t let the issue of purchasing the right amount of cover to fall off the radar when advising their commercial clients. In

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How the largest commercial brokerage views its COVID E&O exposure

August 18, 2020 by Greg Meckbach

Although some commercial clients may start “suing everybody” because their business interruption insurance did not cover income lost during the pandemic, brokers could not have obtained broad-scale pandemic coverage for all clients even if they wanted to because the exposure

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How the UK pandemic business interruption test case could play out

August 13, 2020 by Greg Meckbach

The industry will likely learn next month the outcome of a business interruption coverage test case arising from the COVID-19 pandemic, but the verdict is likely to be appealed, a Bermuda insurance CEO suggests. The British Financial Conduct Authority filed

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Policies under the microscope

August 7, 2020 by Greg Meckbach, Associate Editor

How the outcome of a test case in Britain over business interruption coverage during COVID-19 may reverberate throughout the Canadian commercial P&C market