As part of business, insureds and their customers sign contracts setting out the terms of their arrangements regarding price, payment terms, delivery schedule and more. But boilerplate legal terms, which often aren’t even read, also contain binding terms and may…
Market conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms…
VICTORIA – The mayor of the fire-ravaged community of Lytton, B.C., says rewriting the village’s bylaws from scratch will be about as entertaining as going to the dentist but it’s another step in the massive rebuilding effort. The village’s records…
Tokio Marine Holdings and ICEYE, a radar data provider and expert in NatCat solutions, have announced a commercial collaboration to develop new insurance products and services that utilize satellite data. ICEYE says Tokio Marine (whose Canadian branch has underwriting offices…
Canada’s P&C insurance industry has been undertaking digital transformation initiatives for a while now, some of which have been accelerated by the ongoing COVID-19 pandemic. But how does a brokerage or carrier know where to focus their investment, and understand…
Personal home insurance will continue to face a firm pricing environment for the foreseeable future, the CEO of Intact Financial Corporation said at a recent virtual conference. “You can expect a firm pricing environment, mid- to upper-single-digit range for the…
Globally, the P&C insurance market remains on the hard side, but there are signs of melting, based on the results of the latest Global Insurance Market Index released by Marsh. Global commercial insurance prices increased 13% in 2021 Q4, continuing…
Westland Insurance Group has continued its expansion spree, today announcing acquisition of Campbell, Roy & Eldridge Insurance Services. Markham, Ont.-based Campbell, Roy & Eldridge offers a wide range of coverages, including home, condo, auto, RV, motorcycle, boat, watercraft, business, trucking…
Signs are showing that stability – and more capacity – is returning to Canada’s commercial insurance market, including a recent announcement that the professional liability division of Cincinnati-based Great American Insurance Group has expanded into Canada. More specifically, Great American’s…
Corporations are increasingly using standard form agreements to conduct business with suppliers. If your client is faced with one, watch out for the inclusion of an unlimited indemnity. A standard form agreement provides several benefits to the corporation that drafts…
The highly transmissible Omicron variant has prompted companies in the manufacturing and resource sectors to downgrade their earnings forecasts amid ongoing uncertainty linked to the COVID-19 pandemic. Cascades Inc., the Quebec-based packaging and tissue company, said Monday it expects fourth-quarter…
Brokerage Wilson M. Beck Insurance Services (WMB) has officially opened the doors to a new specialty entity in Vancouver. Wilson M. Beck Insurance Services (Specialty) Inc., or WMB Specialty, will operate as a commercially-focused insurance brokerage as part of the…