Topic Commercial
BFL president reacts to regulator’s effort to prevent Aon-Willis merger
June 23, 2021 by Greg MeckbachIn trying to block Aon plc’s proposed acquisition of Willis Towers Watson plc, the United States competition regulator is off the mark in how it describes the world’s three-biggest property and casualty commercial insurance brokerages, suggests a senior executive with…
BFL Canada founder on the catalyst for setting up his own foundation
June 21, 2021 by Jason ContantWhen Barry Lorenzetti set up his family foundation a few years ago, it was with his uncle Arthur in mind. Lorenzetti, president, CEO and founder of commercial brokerage BFL Canada, remembers when his uncle would visit Lorenzetti’s home when he…
Why liability insurance did not cover the defence of a remediation order
June 18, 2021 by Greg MeckbachAn eastern Ontario municipality does not have coverage with any of its four former liability insurers for a dispute with the provincial environment ministry over alleged pollution occurring more than six decades ago. That’s because the insurance policies in question…
Updated tailings code after Mount Polley disaster an improvement: B.C. mines auditor
June 18, 2021 by The Canadian PressVICTORIA – A new report says changes to British Columbia’s requirements for tailings storage after the Mount Polley disaster have generally improved the management of mining waste. The mines chief auditor found many of the revisions made in 2016 to…
What’s the state of the cyber market these days?
June 17, 2021 by Adam MalikA lack of scrutiny around the risk being taken on and a flawed claims process bit the cyber insurance market hard, especially over the last year, according to experts in the field. Now, they added, there are signs that insurers…
Why the U.S. competition regulator wants to stop the Aon-Willis merger
June 17, 2021 by Greg MeckbachAlmost all large firms in the United States buy their property and casualty insurance through either Marsh, Aon or Willis Towers Watson, the latter two of the ‘Big Three’ having market share of more than 40% in property and liability…
An expert’s guess on how long the D&O hard market will last
June 16, 2021 by Adam MalikWhile things may not get any worse in the directors and officers (D&O) liability market, it’ll still be about another 18 months until things start to turn for the better, an expert in the area predicted. “I don’t see it…
How much property coverage capacity Canada’s oil sands has lost
June 15, 2021 by Greg MeckbachThe withdrawal of “hundreds of millions” of capacity for property risks related to Canada’s oil sands is creating a new challenge for brokers trying to place insurance for oil and gas clients, a broker executive reports. Some insurers have taken…
Pandemic enabled small- and medium-sized businesses to work remotely: survey
June 15, 2021 by Salmaan Farooqui - THE CANADIAN PRESSAt Jeremy Shaki’s tech education company, his workforce of around 75 people weren’t always so keen on remote work. But as the pandemic stretches on, and Lighthouse Labs invested more into the necessary infrastructure and employee programs to make remote…
How to sell insurance to a solo entrepreneur in under a week
June 14, 2021 by Greg MeckbachA major pain point for gig-economy entrepreneurs is the traditional process of getting commercial coverage, a Vancouver insurtech CEO suggests. “It is tough being a solo entrepreneur, especially now,” said Jeff McCann, CEO Apollo Insurance Solutions Ltd. “These people are…
Canadian MGA association takes centre stage with new board of directors
June 11, 2021 by Greg MeckbachGary Hirst is stepping down as president of the Canadian Association of Managing General Agents (CAMGA). “You might think it is strange that I am pleased to be stepping down,” Hirst, the CEO of CHES Special Risk Inc., announced during…
Auditor scolds Alberta over mine cleanup fund, how province handles polluted sites
June 11, 2021 by Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta’s auditor general is criticizing the government for failing to fix problems pointed out six years ago in a program that’s supposed to guarantee coal and oilsands mines clean up after themselves. Doug Wylie says there’s so much…