Topic Commercial
‘The most litigated insurance concept’
December 6, 2020 by Greg Meckbach, Associate EditorA lot of things can go wrong when a client agrees to add a counter-party to a contract as an additional insured. Here’s what your clients can do to reduce the risk of a nasty coverage dispute
Underwriting long term care: Transforming liability into opportunity
December 4, 2020 by David GambrillWith property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in…
Who is funding many of these insurance mergers
December 4, 2020 by Greg MeckbachThe industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the…
Saskatchewan restarts emergency grants for small businesses hit by COVID-19 rules
December 3, 2020 by Stephanie Taylor - THE CANADIAN PRESSREGINA – The Saskatchewan government is reviving an emergency grant program for small businesses that have been hit by restrictions aimed at stemming the spread of COVID-19. The province will begin accepting applications for its small business emergency payment program…
Investors increasingly asking about insurers’ environmental practices: CFOs
December 2, 2020 by Jason ContantInvestors are increasingly asking insurers about environmental, social and corporate governance (ESG) practices and how they are being managed, Intact Financial Corporation’s senior vice president and chief financial officer, Louis Marcotte, said recently. “In some cases, when we meet investors,…
What brokers should be telling their hospitality clients
December 2, 2020 by Adam MalikBrokers are having some frank conversations with clients in the hotel and restaurant business about the realities they’re facing and how to survive the troubles ahead, says a hospitality broker leader. “The truth is that if anybody is going to…
Insurance regulators expand scope of inquiry into Best Terms Pricing
December 2, 2020 by David GambrillCanada’s national association of provincial property and casualty insurance regulators is looking into “Best Terms Pricing” in all commercial lines following recent regulatory actions to ban the practice in the strata insurance line in B.C. and Alberta. The Canadian Council…
Court raps lawyers’ conduct, as default judgment against insurer overturned
December 1, 2020 by David GambrillB.C.’s Court of Appeal threw out a default judgment against Lloyd’s of London Monday in a case involving the theft of golden eagles used for a charity event. In doing so, the court criticized lawyers for both the claimant and…
$5-million cyber claim for phishing scam heads to top court
November 30, 2020 by Greg MeckbachA $5-million coverage dispute with The Co-operators that arose from a phishing attack is headed to the Supreme Court of Canada. Canada’s top court is booked Dec. 7 to hear arguments in Co-operators General Insurance Company v. Sollio Groupe Coopératif.…
New commercial specialty insurer entering Canada
November 30, 2020 by Greg MeckbachTokio Marine Holdings Inc. plans to incorporate a new property and casualty insurer in Canada next year. The Japanese insurer announced Nov. 26 its new Canadian insurer will focus mainly on specialty business and have “limited overlap” with Tokio Marine…
P&C industry’s Q3 results show signs of recovery
November 30, 2020 by David GambrillIf the Canadian property and casualty insurance industry’s second quarter results — a financial temperature check at the height of the pandemic — looked a bit sickly this year, the third quarter results show signs of overall recovery, data from…
What insurers want brokers to stop doing
November 30, 2020 by Adam MalikBrokers who take a broad, scattershot approach to getting submissions approved by underwriters are only setting themselves — and their clients — up for failure and disappointment, an insurance executive warned during a recent webinar. For a better chance at…