Topic Construction
Court sides with Trisura in $475K construction bond case
March 22, 2023 by David GambrillTrisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept…
How to digitize traditional brokerages without breaking the bank
February 28, 2023 by Alyssa DiSabatinoMany brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing…
Sales Column: Clients ignoring your emails? Try texting
February 22, 2023 by Adam MitchellPeople love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…
Investigation underway into apparent gas explosion in Ottawa
February 15, 2023 by Cindy Tran and Mickey Djuric - THE CANADIAN PRESSOTTAWA – Officials say the investigation is now ongoing after 12 people were injured in an apparent gas explosion that rocked an east Ottawa suburb on Monday morning, including two children and two people who were pulled out of the…
Unexpected construction issues, rising labour costs increase pipeline cost to $14.5 billion
February 1, 2023 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – The estimated cost of the Coastal GasLink pipeline has increased by 29 per cent to $14.5 billion, as the company behind the project continues to be dogged by unexpected construction issues and rising labour costs. Calgary-based TC Energy…
How adjusters can benefit from putting consumers in control of their claims
January 19, 2023 by Jason ContantWhen severe weather events take place, not everything can be fixed overnight. There are only so many contractors and thousands of homes will likely need repairs ranging from major to minor. “It comes down to triaging and putting the insured…
Can a new college program draw talent to commercial brokerages?
January 18, 2023 by Alyssa DiSabatinoThe specialized nature of commercial brokering is causing a talent shortage now that veterans are retiring in droves. “I literally get three or four different companies a week that ask for talent, and it’s amplified across the industry,” said John…
What’s driving reinsurer underwriting margins in 2023?
January 16, 2023 by Philip PoradoUnderwriting margins for reinsurers will likely grow by an average four percentage points during 2023, said a new report from Fitch Ratings. Key factors for the increases are significant price rises, tighter terms and conditions, as well as the withdrawal…
How an Alberta election may impact decisions on captive insurance
January 12, 2023 by Philip PoradoCompanies looking at the benefits of setting up an Alberta captive insurance company appear to be taking a ‘wait-and-see approach’ with respect to tax treatment. At the moment, the province’s tax authorities have indicated captives will be treated the same…
Can the P&C industry navigate these 3 problems in 2023?
January 9, 2023 by David GambrillThanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…
Are product liability insurers ready to face mass torts?
December 13, 2022 by Philip PoradoClass action lawsuits have long been drivers of social inflation for insurers that provide product liability overage. But now a new legal vehicle, the ‘mass tort,’ looks to be waiting in the wings. Unlike class actions, in which one plaintiff…
The real reasons behind Canada’s softer D&O market
December 9, 2022 by Philip Porado“Expanded insurer appetite and competition in the primary space,” as well as new capacity in excess layers, helps explain a softening of Directors and Officers (D&O) insurance pricing and limits expansions in Canada, says a recent quarterly market insights report…