Topic Commercial
How Marsh sees the broker role evolving around cyber insurance
December 11, 2019 by Jason ContantBrokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed…
Why thousands of unsafe commercial vehicles remain on Ontario roads
December 6, 2019 by Greg MeckbachMore than half of Ontario’s commercial vehicle carriers have not been inspected by the province’s transportation ministry in the past two years, and the number of vehicles inspected each year has dropped big-time. These were among the findings in the…
The biggest challenges facing the commercial auto space
December 3, 2019 by Jason ContantCapacity issues, cross-border exposure, ongoing trade negotiations and liability losses are some of the biggest challenges in the commercial transportation space, a speaker said last week at Insurance Bureau of Canada (IBC)’s inaugural Commercial Insurance Symposium. “In the past four…
How commercial brokers and carriers are dealing with the war for talent
November 29, 2019 by Jason ContantCommercial brokerages are looking at non-traditional approaches, particularly around technology, to attract and build producer talent, speakers said Thursday at Insurance Bureau of Canada’s inaugural Commercial Insurance Symposium in Toronto. “We’re seeing some commercial brokerages put increasing emphasis on [non-traditional…
One positive trend in the P&C industry’s third-quarter results
November 28, 2019 by David GambrillCanada’s federally-regulated property and casualty insurers appear to be getting a handle on their property lines claims ratios, although auto lines are still in trouble, according to third-quarter industry results released by the country’s solvency regulator, the Office of the…
What Hub is seeing in the cross-border space
November 22, 2019 by Jason ContantWith the growing need from Canadian businesses for cross-border expertise, clients are often looking for a complete solution to cover all their employees, Hub International told Canadian Underwriter recently. “What we are hearing from our clients that have employees in…
How commercial office buildings can improve their flood resilience
November 20, 2019 by Jason ContantIf your client is a commercial real estate building owner or manager in Canada, there are some major retrofits they can take to improve their flood resilience. While many of the measures – such as elevating and flood-proofing critical equipment,…
CSIO finalizes standard set of questions for underwriting this commercial line
November 19, 2019 by Jason ContantThe Centre for Study of Insurance Operations’ (CSIO) commercial lines working group has finalized a standard set of questions required for underwriting small contractor new business submissions. “This is a significant step in implementing commercial lines data standards in the…
Commercial lines that will see the greatest rate increases in 2020
November 16, 2019 by Jason ContantCommercial property, umbrella, and public company directors and officers (D&O) lines are expected to see the most widespread rate hikes of 20% and higher, in addition to capacity withdrawals, according to Willis Towers Watson’s Insurance Marketplace Realities 2020 report. The…
Computer woes continue for government after cyber attack
November 7, 2019 by The Canadian PressIQALUIT, Nunavut – The government of Nunavut is still struggling with computer systems paralyzed by a cyber attack last weekend. “Network recovery is ongoing as the (territory) works to uncover information, prepare recovery plans and work on department priorities,” said…
Why this solar energy developer was denied coverage under a CGL policy
November 6, 2019 by David GambrillEconomical Insurance recently won a case against a developer of solar energy projects that turned on the wording of an additional insured endorsement in a Commercial General Liability (CGL) policy. Economical ultimately convinced the Ontario Superior Court that insurance coverage…
Why your commercial book will start getting a lot more rejections
November 6, 2019 by Greg MeckbachInsurers who replace underwriters with computers are rejecting a lot of small business applications for reasons that are unclear to the brokers, a commercial broker suggests. “I think that insurers will start to realize that the black boxes are actually…