Canadian Underwriter

Topic Insurers

News Business InterruptionClaims Canada ArchiveClaims ProfessionalsCommercialCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsRisk Managers

Why the D&O market will probably get harder

December 15, 2020 by Greg Meckbach

Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions

News CyberHRInsurersLiabilityQuebecTechnology

Series of gaps allowed massive Desjardins data breach, privacy watchdog says

December 15, 2020 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A series of technological and administrative gaps caused a high-profile data breach at Desjardins – the largest to date in the Canadian financial services sector, the federal privacy watchdog has found. Privacy commissioner Daniel Therrien said Monday that

News ClaimsInsurersLegalLiability

How clients can avoid pitfalls when dealing with ‘additional insured’ contracts

December 14, 2020 by Greg Meckbach

Agreements in which one party is required to add the other as an “additional insured” can open a huge can of worms. Clauses like this can appear in contracts for maintenance provision, equipment installation, commercial leases, and construction, said insurance

News AdjustersClaimsClaims ProfessionalsInsurersLegalLiabilityNova Scotia

Why an adjuster’s notes are out of bounds in this subrogation case

December 14, 2020 by David Gambrill

When The Co-operators quickly notified a third-party insurer, AIG Inc., upfront of its intention to pursue a subrogation claim against AIG’s client in an oil spill case, little did The Co-operators know the move would later backfire when it came

News CommercialCyberInsurersLiability

Christmas movies that would benefit from insurance coverage

December 14, 2020 by Jason Contant

It’s less than two weeks until Christmas, and insurance professionals are looking forward to some downtime following an unprecedented year. The 2020 holiday season may look different this year due to the ongoing COVID-19 pandemic, and it’s a good bet

News InsurersLegalLiabilityRisk Managers

How AIG stick-handled this liability coverage dispute

December 11, 2020 by Greg Meckbach

A Court of Appeal for Ontario ruling in favour of AIG Insurance Company of Canada, over a coverage dispute arising from an injury to a spectator at a hockey arena, is now final. The Supreme Court of Canada recently announced

News BrokersInsurersLegalLiabilityPersonal Home

Defying The Grinch may cost your clients home insurance coverage

December 11, 2020 by David Gambrill

Are your clients tempted to defy The Grinch who stole Christmas and have large holiday gatherings during the pandemic regardless of what public health orders might say? You might want to tell them about pandemic exclusions in their home insurance

News ClaimsClaims TechnologyInsurersPersonal AutoPersonal HomeTechnology

A sign that insurers are actually investing in technology

December 11, 2020 by Adam Malik

Insurers have talked about the need to be more digital for years now but there is one clear sign that they’re actually following through on their plan, according to a KPMG insurance expert: A significant number of them are investing

News InsurersManagementOperations

What the regulators’ data says about insurers and fair treatments of customers

December 10, 2020 by David Gambrill

Canadian P&C insurers have generally embraced the general principles of the Fair Treatment of Consumers (FTC), but the industry still has some work to do in specific benchmark areas, according to an annual statement on market conduct issued by the

News ClaimsCommercialInsurersLiabilityRisk ManagersTechnology

Tragic, yes, but COVID-19 didn’t change the insurance world: Co-Operators CEO

December 10, 2020 by Adam Malik

The insurance industry should not be surprised by the fact there was a global health pandemic, a senior P&C industry exec says, adding that COVID-19 is not likely to change industry fundamentals significantly, since nothing new was brought to the

News BrokersClaimsCommercialInsurersProperty

Will Ontario’s new law result in a flurry of snow removal capacity?

December 9, 2020 by David Gambrill

On the day before heavy, wet snow and slush graced the streets of southern Ontario, the provincial government passed a law Tuesday that brokers believe will make it easier for them to find insurance coverage for snow removal contractors. The

News EducationEmerging RisksHRInsurersManagementOperationsTrending

The diversity and inclusion statement that hit home for Intact’s management team

December 9, 2020 by Jason Contant

Intact Financial Corporation was holding focus groups on diversity and inclusion a few months ago, when a young manager of colour shared her experience with the insurer’s senior management. “She gave an example to us, which struck most of the