Topic Commercial
Three ways of reducing your client’s risk of false slip-and-fall claims
January 11, 2021 by Greg MeckbachInstalling video systems, keeping an eye out for obstructions on the property and asking claimants for all names they have used in the past are among the techniques your clients can use to protect themselves from fraudulent slip-and-fall claims. Slip…
Opinion: Why you should pursue subrogation more often
January 7, 2021 by Wilfred Tioh, SIAdvisers Consulting & SolutionsThe most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party…
Brokerage M&A off to a strong start in 2021
January 7, 2021 by Jason ContantLarge Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced…
Overcoming AI’s bias: Models are only as good as the data you feed into them
January 6, 2021 by Adam MalikIf people intend to use data to help mitigate risk or save lives, that data must be trustworthy, says an artificial intelligence expert. Sean Griffin, CEO and co-founder of Disaster Tech, a disaster risk data firm, pointed out during CatIQ…
Impeding, hindering or preventing: Do these mean the same thing in business interruption insurance?
January 6, 2021 by Greg MeckbachSay your client has a policy covering business interruption if the government prevents access to the premises. A pandemic breaks out. Say that client is not completely prohibited from conducting business, but is still losing sales because the government is…
The difference between pandemic BI coverage and pushing a bus off a cliff
January 5, 2021 by Greg MeckbachCommercial clients who bought insurance covering a disease outbreak within 25 miles of their premises did not buy coverage for business interruption from a pandemic on a national scale, insurance company lawyers are telling the United Kingdom Supreme Court. Worldwide,…
The case for retaining clients instead of finding new ones
January 5, 2021 by Adam MalikThe insurance industry is putting a disproportionate amount of effort in bringing new customers to their business and not investing enough in client retention, which is a far more affordable strategy, says an industry observer. Further plaguing the industry is…
Britain’s regulator challenges ruling in favour of insurers over pandemic BI coverage
January 4, 2021 by Greg MeckbachThe appearance of the word “event” in a “disease radius” clause in business interruption insurance contract could be instrumental in determining whether the client is covered during a pandemic. In a ruling released Sept. 15, the High Court of England…
Why it took four years to add snow removal contractor as a defendant in this slip-and-fall claim
January 4, 2021 by Greg MeckbachA landscaping firm with a contract to spread salt and sand during the winter has been added as a defendant in a personal injury lawsuit in Ontario more than four years after an alleged slip-and-fall accident. 1323765 Ontario Inc., which…
AXA XL brings in new Canadian country manager
December 16, 2020 by Greg MeckbachRenato Rodrigues is AXA XL’s new country manager for Canada, the Paris-based insurer announced Wednesday. Rodrigues (pictured), who previously led AXA XL’s Latin American insurance business, will be moving to Toronto from Sao Paulo, Brazil, once the COVID-19 restrictions enable…
What brokers need to do to place hospitality coverage
December 16, 2020 by Greg MeckbachWhen it comes to the hospitality sector, insurers’ risk appetites are constantly changing and underwriters are especially concerned about clients who get most of their revenue from alcohol, a managing general agent reports. “A broker has to spend a lot…
Taming Social Inflation
December 16, 2020 by Adam Malik, Managing EditorSocial inflation essentially describes insurers’ increasing legal costs. Why insurers are pinning this primarily on the rise of litigation funding