Topic Commercial
‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada
November 11, 2020 by Greg MeckbachA $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.…
Canadian small businesses ask insurers for more relief
November 11, 2020 by Adam MalikWith commercial insurance premiums on the rise in a number of business classes, and some unable to even find an insurer, a national association representing Canadian small businesses is calling on insurers and provincial governments to do more to ensure…
One essential thing required for condo premium relief
November 10, 2020 by Adam MalikClients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in…
Brokerage M&A round-up: Which four were bought?
November 9, 2020 by Jason ContantBritish Columbia-based Westland Insurance Group Ltd. has moved into the Ontario market, announcing that it has acquired Gillons Insurance Brokers Ltd. The “significant and substantial milestone” supports Westland’s expansion strategy to become a national insurance brokerage, the brokerage said when…
Supreme Court sides with Maple Leaf Foods in case sparked by meat recall
November 9, 2020 by Jim Bronskill - THE CANADIAN PRESSOTTAWA – A Supreme Court of Canada ruling has dealt a blow to Mr. Sub franchisees in their quest for compensation over losses experienced during a Listeria outbreak. In a 5-4 decision Friday, the top court said Maple Leaf Foods…
Culture change needed to mitigate condo losses: Aviva exec
November 6, 2020 by Adam MalikAs capacity for condo insurance shrinks and premiums continue to mount, property managers and condo boards will find greater success with underwriters if they can show they are embedding responsibility for risk management and mitigating losses into their corporate culture,…
Intact’s message to politicians wanting more commercial insurance regulation
November 5, 2020 by Greg MeckbachImposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring…
Track failure led to train derailment in northern B.C.: safety board
November 5, 2020 by The Canadian PressRICHMOND, B.C. – The Transportation Safety Board says a track failure contributed to the derailment of a freight train in northern British Columbia in January. No one was hurt when 34 cars carrying wood pellets on the Canadian National Railway…
How this Supreme Court ruling impacts contractor insolvency risk
November 3, 2020 by Greg MeckbachA recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a…
How much premium it would take for P&C insurers to absorb global BI pandemic losses
November 2, 2020 by Jason ContantProperty and casualty insurers would need to collect business interruption policy premiums for 150 years to make up for projected global output losses in 2020 related to the COVID-19 pandemic, the Geneva Association found in a recent study. “P&C insurers…
How much Northbridge could pay out in COVID claims
November 2, 2020 by Greg MeckbachLong-term care facilities accounted for a good chunk of the US$25.5 million in COVID-19 losses that Northbridge reported in the three months ending Sept. 30, officials with parent company Fairfax Financial Holdings Ltd. suggested this past Friday. Toronto-based Fairfax released…
IBC talking to feds about future pandemic risk transfer
November 2, 2020 by Greg MeckbachThe Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the…