Topic Commercial
Large commercial brokerage expands presence in benefits space
June 6, 2019 by Jason ContantYet another commercial brokerage has expanded its presence in the benefits space in Canada. Toronto-headquartered Navacord Corp. announced Tuesday the acquisition of Toronto-based Future Benefits Management Inc. (FBMI), effective June 3. Founded in 1995 and exclusively focused on group benefits,…
This commercial line could get a lot more exciting soon
June 4, 2019 by Jason ContantThe Canadian marine insurance market could get a lot more interesting in the next year-and-a-half as major infrastructure projects get underway. “There are more large infrastructure projects on the drawing board and it could be a very interesting 18 months…
This restoration contracting acquisition should close by summer
May 24, 2019 by Greg MeckbachFirstOnSite and Paul Davis will have the same corporate owner if a deal announced Thursday goes through but will operate separately from one another. FirstOnSite Restoration Limited announced May 23 that its corporate parent, Global Restoration Holdings LLC, agreed to…
Aviva loses $7-million coverage dispute over sexual abuse liability
May 23, 2019 by Greg MeckbachCanada’s top court said today it will not hear an appeal from Aviva Canada of a ruling in favour of a New Brunswick church diocese. L’Évêque catholique romain de Bathurst, a diocese that oversees Roman Catholic parishes in the northeastern…
Why liability and reputational risk is changing
May 15, 2019 by Greg MeckbachTechnology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager…
How sales commissions can result in disputes over vacation pay
April 24, 2019 by Greg MeckbachIf you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing…
Is the grass greener on the other side of insurance?
April 22, 2019 by Jason ContantAre you a personal lines specialist who is attracted by the allure of working in commercial lines? You’re not alone. “I think a lot of people often say, ‘Well, I’m in personal lines and I aspire to commercial because it’s…
Debate rages over whether a cyber attack is an act of war
April 18, 2019 by Jason ContantCan a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following…
What’s holding back Lloyd’s price increases
March 28, 2019 by Greg MeckbachProperty risk could get harder to place in the Lloyd’s market this year. “Difficult decisions regarding existing accounts, or indeed the appropriateness of new accounts, will continue to have to be made during 2019,” the Corporation of Lloyd’s said of…
These Lloyd’s syndicates have shut down
March 27, 2019 by Greg MeckbachToronto-based Fairfax Financial Holdings is among the insurers who own Lloyd’s syndicates that were shut down at the end of 2018. The Corporation of Lloyd’s released Wednesday a list of the eight syndicates that stopped trading as of Dec. 31.…
One simple way to reduce the severity of barn fires
March 4, 2019 by Jason ContantEnhancing building codes to include early detection systems could help generate a faster response in the case of farm fires, said Ken Worsley, who leads Cowan Insurance Group’s national agri-commercial industry practice. Early response systems include things like heat, fire…
Why the insurance industry needs a “killer use case” for blockchain
February 28, 2019 by Jason ContantThe insurance industry needs a “killer use case” for blockchain that all stakeholders can agree on before moving forward with more widespread adoption, a speaker suggested Wednesday at the Insurance-Canada.ca Technology Conference. “I think we are still on that journey…