Canadian Underwriter

Topic Business Interruption

Hand holding chooses wooden block cubes with risk word. Risk management concept.
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

News Business InterruptionCommercialOperationsPropertyTrending

Ottawa loosens eligibility requirements on pandemic relief for businesses, workers

December 24, 2021 by Tara Deschamps - THE CANADIAN PRESS

Canada’s federal government offered a lifeline to businesses struggling amid the latest wave of the COVID-19 pandemic by expanding eligibility for two benefit programs. Prime Minister Justin Trudeau and several members of his cabinet announced Wednesday that, due to the

News Business InterruptionLiabilityLoss ControlRisk Managers

Mid-sized business leaders cite ‘customized risk management advice’ as top need for reducing exposure

November 5, 2021 by Canadian Underwriter Staff

Customized risk management advice ranks highest among the top needs of mid-sized businesses to reduce their risk exposure, a new survey found. The findings suggest there’s an opportunity for brokers and risk managers to deepen risk management conversations with clients.

Ransomware locking up a laptop
News Business InterruptionClaimsCyberTechnology

Canada ranks third for ransomware attacks

November 1, 2021 by Philip Porado

Businesses in Canada, with 62 attacks, are the third most likely worldwide to have their data held hostage, said new research by NordLocker. Researchers, who analyzed 1,200 companies hit by ransomware gangs in 2020 and 2021, said the U.S. (732

News Business InterruptionCommercialInsurersRisk ManagersSupply Chain

Risk management more important than ever to middle market firms, yet few turn to brokers for advice: Chubb report

October 22, 2021 by Canadian Underwriter Staff

Risk management has become a top concern for middle market companies surveyed following more than a year of pandemic and other related business disruption, data from Chubb has shown. According to Chubb’s Middle Market Indicator for Q2 2021, which surveyed

News Business InterruptionCommercial

Small businesses warn of layoffs, closures if pandemic aid isn’t extended

October 21, 2021 by The Canadian Press

OTTAWA – Business groups in Canada are warning that ending federal pandemic-relief programs too soon could send shock waves through the economy. Cutting off wage and rent subsidies as planned on Saturday will force many businesses to reduce their hours,

News BrokersBusiness InterruptionLiability

How wedding insurance will adapt to a post-pandemic world

October 6, 2021 by Brooke Smith

Wedding revenues dropped by almost 40% drop in Ontario last year, according to HelloSafe.ca, due largely to the COVID-19 pandemic. Wedding insurance, as a result, was also affected. Pre-pandemic, Front Row Insurance Brokers was receiving about 200 orders a month

News Business InterruptionCommercialProperty

As small business sentiment drops, Liberals pressed to give benefits extra life

October 6, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – A group representing thousands of small businesses says uncertainty over the fate of federal pandemic supports is causing its members to lose confidence in their financial prospects, and pushing the Liberals to provide more life support for ailing

News Business InterruptionCommercialCyberEmerging RisksTechnology

Will cyber insurance rates double in the next couple years?

October 4, 2021 by Jason Contant

Prices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate

News Business InterruptionCommercialOntario

Ontario government pledges $100 million to help tourism sector recover from COVID-19 

September 27, 2021 by The Canadian Press

TORONTO – Ontario is investing $100 million in the province’s tourism sector to help it recover from the impact of COVID-19. Tourism Minister Lisa MacLeod says the money will be distributed through the new Tourism Recovery Program. McLeod says the

News Business InterruptionCommercialInsurersLiability

Small businesses continue to be hard-hit by rising premiums this year, CFIB reports

September 24, 2021 by Jason Contant

Insurance has become the top operating cost concern for small businesses, with seven in 10 reporting their premiums have increased since the beginning of the year, the Canadian Federation of Independent Business (CFIB) reported. The ongoing hard commercial insurance market,

News Business InterruptionClaimsInsurersLegalLoss TrendsRisk Managers

Business interruption class action against Aviva Canada now fully certified in Ontario

September 17, 2021 by Greg Meckbach

An Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording