Canadian Underwriter

Topic Business Interruption

News Business InterruptionLegal

When courts might rule against insurers in business interruption coverage disputes

June 11, 2020 by Greg Meckbach

A commercial insurer could end up paying for losses that the carrier never intended to cover if a business interruption insurance policy covers government orders or advice to shut down a workplace without clearly excluding something like a widespread pandemic,

News Business InterruptionClaimsClaims Canada ArchiveLegal

The ‘massive’ business interruption coverage question with no ‘obvious answer’

June 8, 2020 by Greg Meckbach

The outcome of an ongoing British test case for business interruption during a pandemic could set a precedent for commercial coverage disputes in Canada, a Toronto-based insurance defence lawyer suggests. Britain’s Financial Conduct Authority (FCA) is scheduled to file a

News Business InterruptionClaimsEmerging RisksLegalLiabilityRisk Managers

A new trend for BI coverage dispute lawsuits

May 28, 2020 by Greg Meckbach

Commercial insurers who deny business interruption claims during COVID-19 could be sued by clients whose legal fees come from third-party litigation funding providers, an industry watcher suggests. “One thing that is happening now is a lot of insurance companies are

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Why Intact says most clients have no pandemic business interruption coverage

May 6, 2020 by Greg Meckbach

Fewer than 1% of the commercial property policies that Intact Financial Corp. writes should incur business interruption claims from the coronavirus pandemic, company officials suggested Wednesday. But the insurer has set aside more than $80 million to account for possible

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How to exclude business interruption during pandemic

May 4, 2020 by Greg Meckbach

If a commercial insurer does not want business interruption covering a pandemic-related exposure, how should the policy be worded? One insurance defence lawyer would advise the carrier to add a section entitled ‘Pandemic/viral/bacterial infection’ to the list of exclusions. “I

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Meet the restauranteur who’s taking the industry to court over pandemic BI coverage

April 14, 2020 by Greg Meckbach

Believe it or not, some commercial clients expect business interruption insurance to cover loss of income if the business gets interrupted, even if the cause of the interruption is a pandemic. Regina restaurant owner Thomas Siarkos is one such client.

Feature Business InterruptionCommercialEmerging RisksLoss ControlLoss TrendsRisk Managers

Business, interrupted

April 3, 2020 by Brooke Smith, Freelance Writer

Businesses can lose revenue in any number of ways. Increasingly, they can be shut down for political risks that are beyond the company’s control. Examples of emerging business interruption risks include trade wars, armed conflicts, or political protests. As businesses

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How IBAO wants brokers to treat pandemic business interruption losses

March 27, 2020 by Greg Meckbach

With the widespread impact of pandemic-induced business income losses, the property and casualty industry is looking for a good way of dealing with a high volume of potential business interruption notices of loss. “The IBAO is asking business clients not

News Business InterruptionClaims Canada ArchiveHRRisk ManagersTechnology

One business interruption risk from COVID-19 that your clients may overlook

March 11, 2020 by Greg Meckbach

Will your business get interrupted because people working from home due to COVID-19 cannot log into their computer systems? “If you are asking staff to work from home, make sure that the technology systems to enable them to do that can

News Business InterruptionCyberInsurers

Why business interruption worries Canadians more than cyber

January 14, 2020 by Adam Malik

Business interruption outranked cyber incidents as top concerns for Canadian businesses, brokers and trade organizations, according to a new report from Allianz Global Corporate & Specialty. Globally, however, it’s the other way around. When the annual Allianz Risk Barometer, which

News Business InterruptionRisk ManagersSupply Chain

Threat of Canada Post strike still alive

October 7, 2018 by Terry Pedwell - THE CANADIAN PRESS

OTTAWA – The union representing 50,000 employees at Canada Post panned the latest contract offers from the corporation Thursday, calling them “disappointing” and keeping alive the threat of a work stoppage as the busy holiday online shopping season approaches. Two