Topic Commercial
Court sides with insurer in multi-million-dollar spat over sublimits
January 21, 2022 by David GambrillB.C.’s Supreme Court has upheld an insurer’s insistence that a mining company’s business interruption losses were subject to a $10-millon sublimit and not to the full policy limit of $250 million. That said, the court did not agree with the…
The case for tracking your risk advice
January 19, 2022 by David GambrillThe City of Revelstoke, B.C., has been found 35% contributorily negligent for not adhering to a recommendation contained in a 2011 risk management audit, which advised to maintain painted ‘No diving’ signs on a raft in Williamson Lake Park. “The…
Six ways insurers can reduce ransomware risk
January 18, 2022 by Erin KenneallyCyber insurance was once seen as a bright spot for the commercial insurance industry, with lower loss ratios and higher profitability than other major areas of commercial coverage. Fast forward a few years and Fitch Ratings is reporting 2020’s direct…
Flight delayed because the crew has COVID? You’re covered for that….
January 14, 2022 by Jason ContantInsurtech Blink Parametric has partnered with Canadian managing general agent (MGA) AwayCare for real-time flight disruption coverage for Canadian travellers worldwide. Blink announced the partnership with travel insurance provider AwayCare, which has offices in Ontario, Alberta, and British Columbia. The…
One dead, five missing after explosion, fire at Ottawa tanker truck manufacturer
January 14, 2022 by Mia Rabson - THE CANADIAN PRESSOTTAWA – One man is dead and five people are missing after an explosion at an Ottawa tanker-truck manufacturer Thursday. Neil Greene, the owner and president at Eastway Tank Pump and Meter Ltd. said Friday he is “completely devastated.” “My…
Intellectual property insurance can help smaller firms fight competitor lawsuits
January 11, 2022 by Maddi Brown, CFC UnderwritingA shift toward remote work has led businesses of all sizes to focus on the importance of their intellectual property (IP). There is more IP in existence today than ever, and in more areas as companies look for ways to…
Cannabis impaired driving: Here’s what we know about the risks of weed behind the wheel
January 11, 2022 by The Canadian PressThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Authors: Dina Gaid, Post-doctoral fellow, School of Pharmacy, Memorial University of…
Using your personal device for work? Why that matters to cyber insurers
January 10, 2022 by Jason ContantInsurers need to consider the hybrid workforce and employees using personal devices when reviewing a cyber risk, a managing general agent says. “Multi-factor authentication is critical as… employees access work email and networks remotely, sometimes even through a web application…
Excess of loss case should be heard in Canada, not New York: court
January 10, 2022 by David GambrillSeveral excess insurers have lost their bid to have a lawsuit take place in New York instead of Ontario in a mining insurance case brought before the Ontario Superior Court of Justice. Nine of 22 excess insurers argued that the…
Westland acquires brokerages in Ontario, Alberta
January 7, 2022 by Jason ContantWestland Insurance has announced its first brokerage acquisitions of 2022 — Bunnell Hitchon Insurance Brokers in Ontario, and Rigby Insurance in Alberta. Bunnell Hitchon, in Brantford and Milton, Ont., was founded in 1890 and offers a wide range of personal…
Western Financial rings in New Year with acquisition
January 6, 2022 by Jason ContantWestern Financial Group began the New Year with the announcement that it has acquired a full-service brokerage located in southern Ontario. Western Financial’s latest acquisition of Wiesner Insurance Inc. “adds a significant commercial interest in Ontario,” the large brokerage said…
Businesses wants more government support amid latest Ontario COVID shutdown
January 6, 2022 by Holly McKenzie-Sutter - THE CANADIAN PRESSTORONTO – Ontario businesses were hit with another round of pandemic-related closures and capacity restrictions Wednesday, but details of financial support remained scant as the measures took effect. Restaurants, gyms, cinemas and other indoor venues were forced to close while…