Canadian Underwriter

Topic Business Interruption

News AlbertaBusiness InterruptionLegalLiabilityProperty

Alberta farmers file what may be first class-action lawsuit over unpaid oil leases

November 11, 2020 by The Canadian Press

CALGARY – Two Alberta landowners have filed what a lawyer says could be the first class-action lawsuit against an energy company for not making its lease payments. “It’s a pretty clear contract,” said lawyer Matthew Farrell, who is representing Reinhold

News Business InterruptionCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEmerging RisksInsurersLoss ControlLoss Trends

Lessons for the industry from pandemic business interruption coverage disputes

November 10, 2020 by Greg Meckbach

Massive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private

News BrokersBusiness InterruptionClaimsEmerging RisksInsurers

How long will the haul be for Canada and the pandemic?

November 9, 2020 by Adam Malik

A second wave of the COVID-19 pandemic is gripping parts of Canada and it will likely be well into next year until we come out of it, an expert predicts. And the longer things drag on, the worse it bodes

News Business InterruptionClaimsCommercialEmerging RisksInsurersLoss ControlLoss TrendsOperationsSupply ChainTrending

How much premium it would take for P&C insurers to absorb global BI pandemic losses

November 2, 2020 by Jason Contant

Property and casualty insurers would need to collect business interruption policy premiums for 150 years to make up for projected global output losses in 2020 related to the COVID-19 pandemic, the Geneva Association found in a recent study. “P&C insurers

News Business InterruptionClaimsClaims Canada ArchiveCommercialEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsRisk Managers

How much Northbridge could pay out in COVID claims

November 2, 2020 by Greg Meckbach

Long-term care facilities accounted for a good chunk of the US$25.5 million in COVID-19 losses that Northbridge reported in the three months ending Sept. 30, officials with parent company Fairfax Financial Holdings Ltd. suggested this past Friday. Toronto-based Fairfax released

News BrokersBusiness InterruptionClaimsClaims Canada ArchiveCommercialEmerging RisksInsurersLoss ControlLoss TrendsOntarioPropertyRisk Managers

IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The 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

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

Feature BrokersBusiness InterruptionEducationEmerging RisksLoss ControlManagementOperationsRisk ManagersTrusted Advisor

How to survive a pandemic

October 20, 2020 by Rob Vosseler, Executive Vice President, Principal Broker, Union Power Insurance Brokers Inc.

A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19

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