Topic Construction
How Ontario is responding to surety writers’ COVID-19 concern
April 14, 2020 by Greg MeckbachConcerns from surety bond providers have prompted the Ontario government to make one change, effective this Thursday, to the state of emergency during the pandemic. As it stands, an emergency order suspending limitations means liens against construction projects technically never…
How to help construction clients who are no longer deemed “essential services”
April 6, 2020 by Adam MalikOntario brokers can expect to receive calls from their clients in the province’s construction industry, some of whom were recently de-listed from the province’s essential services list. Under pressure to reduce the spread of COVID-19 in Ontario, the province recently…
How COVID-19 impacts surety bond placement
March 26, 2020 by Greg MeckbachPlacing surety bonds has become more challenging with the social distancing precautions underway with the COVID-19 pandemic, but it is possible to do this electronically, says an association representing insurers who write surety bonds. Surety bonds can now be placed…
Why brokers need to change cyber talking points for each client
December 6, 2019 by Jason ContantBrokers need to focus their cyber insurance selling efforts on more than just traditional privacy risks and tailor them to specific industries, a specialist insurer said Wednesday. “Cyber is about way more than just privacy and if you explain to…
CSIO finalizes standard set of questions for underwriting this commercial line
November 19, 2019 by Jason ContantThe Centre for Study of Insurance Operations’ (CSIO) commercial lines working group has finalized a standard set of questions required for underwriting small contractor new business submissions. “This is a significant step in implementing commercial lines data standards in the…
Intact agrees to buy The Guarantee and MGA Frank Cowan
August 15, 2019 by Greg MeckbachCanada’s largest property and casualty insurer, Intact Financial Corp. has agreed to buy The Guarantee Company of North America and MGA Frank Cowan Company Limited for about $1 billion from Princeton Holdings. Princeton will continue to own retail brokerage Cowan…
Simple ways to keep a roof on during a tornado
August 13, 2019 by Jason ContantThe Institute for Catastrophic Loss Reduction (ICLR) and home building company Doug Tarry Homes Ltd. have joined forces for a pilot project on increasing the resilience of homes to high wind and tornado events. High winds contributed in part to…
How oil patch woes impact surety bond losses
July 29, 2019 by Greg MeckbachCutbacks in oil and gas is one reason bond claims have become more frequent in Western Canada, a surety expert for the nation’s largest insurer suggests. A slowdown in the construction market in Alberta – and to some extent in…
How construction clients could be taking on too much risk
July 26, 2019 by Greg MeckbachIf you place insurance for construction clients, they could be signing contracts that saddle them with risks that they should not be taking on. “We are beginning to see tenders coming out where not enough design work has been done…
Quebec’s largest brokerage grows with latest acquisition
June 14, 2019 by Jason ContantLarge Quebec brokerage Lussier Dale Parizeau has acquired the assets of Petrela, Murray, LeBlanc Inc., another brokerage in the province. With the acquisition, Lussier Dale Parizeau now totals $475 million in premium volume, the brokerage said in a press release…
How Ontario got it right on surety
May 30, 2019 by Jason ContantThe federal government should follow Ontario’s lead in addressing contractor insolvency before the federal budget bill becomes law, says the Surety Association of Canada (SAC). The federal budget bill, Bill C-97, was tabled in March and passed second reading on…
Is wind “the new water” for Canada’s insurers?
April 25, 2019 by Jason ContantHigh winds contributed in part to most catastrophes in Canada over the past few decades, prompting the need for a new national standard on wind resilience, the Institute for Catastrophic Loss Reduction (ICLR) said Thursday. A report released by ICLR…