Topic Commercial
Insurance provider for Trans Mountain pipeline says it won’t renew policy
June 3, 2021 by The Canadian PressCALGARY – An insurance provider for the Trans Mountain pipeline said it will not renew its policy with the company when it expires in August. Argo Group International Holdings Ltd., an international underwriter based in Bermuda, said the project no…
Are your condo clients covered for ‘special assessment’ costs?
June 2, 2021 by David GambrillIn an age when a condo corporation’s insurance may not provide enough coverage for an insured loss, brokers can help their clients by advising condo unit owners about the merits of special assessment insurance, one lawyer suggests. “It is important…
In a virtual world, don’t lose your humanity: insurer exec
June 1, 2021 by Adam MalikAs the world gets more and more virtual, don’t forget how to be human, an insurer executive urged during a recent webinar. Technology should be used to enhance the industry’s relationship with clients, rather than act as a replacement, explained…
How video conferencing misbehaviour creates commercial liability risk
June 1, 2021 by Greg MeckbachInappropriate behaviour during video conferences can lead to employment practices liability claims, an expert with The Travelers Companies Inc. warns. New York City-based Travelers is observing “Zoom etiquette claims,” said the insurer’s employment practices liability product manager, Chris Williams, during…
Pressure from investors isn’t the only reason insurers are exiting from fossil fuels
June 1, 2021 by Jason ContantMany insurers and reinsurers are considering or actively transitioning away from insuring fossil fuel companies as pressure mounts from investors and clients over environmental, social and governance (ESG) practices. “But pressure from end investors isn’t the whole story,” Tom Johansmeyer,…
Businesses at high risk in pandemic’s final days as subsidies fade, reopening delayed
June 1, 2021 by Brett Bundale - THE CANADIAN PRESSHALIFAX – Lisa Drader-Murphy opened her first store in 1997 with $250 in the bank. Over more than two decades, the Canadian fashion designer built her luxury clothing brand debt-free by reinvesting her earnings back into the business. “I was…
The real advantage of straight-through processing in the Lloyd’s market
May 31, 2021 by Greg MeckbachManaging general agents who can place small business coverage digitally through the Lloyd’s market are at a competitive advantage over MGAs using traditional paper-based processes, an insurtech CEO suggests. “We are one of the very few MGAs that has straight…
Where Intact sees commercial premiums heading after pandemic is over
May 26, 2021 by Greg MeckbachMany commercial clients are “hurting” because of COVID-19, but once the pandemic is over, small businesses currently under lockdown could see their insurance rates rise, Intact Financial Corp. executives suggest. “The biggest difference between the environment in which we operate…
What’s needed to alleviate municipal insurance pressure
May 25, 2021 by Adam MalikMunicipal insurance rates have been rising significantly and the only way to bring them down isn’t only in the hands of the insurance industry, according to a brokerage leader. It’ll take a team effort from multiple parties. Canadian municipalities have…
Downpours in southeast B.C. raise flood concerns
May 25, 2021 by The Canadian PressFAIRMONT HOT SPRINGS, B.C. – An evacuation alert has been issued for more than 200 homes and businesses in southeastern British Columbia as a weekend downpour and the likelihood of more rain raise the potential for flooding in the Fairmont…
Pollution coverage gaps your clients may not know about
May 21, 2021 by Greg MeckbachThe cost of cleaning up after spills of petroleum, oil, or other contaminants may not be covered under your client’s liability or property policy, a managing general agent warns. Many clients are exposed to pollution risk but are not necessarily…
Manufacturers increasingly targets for ransomware attacks, study finds
May 19, 2021 by The Canadian PressTORONTO – A new report says North American manufacturing companies are increasingly targets for cybercriminal gangs that use malicious software to shut down businesses if they don’t pay a ransom. Research from Toronto-based eSentire says that six known criminal gangs…