Topic Liability
From nukes to export tangles, war shows need for custom covers
March 23, 2022 by Philip PoradoClients needing war, political violence or terrorism insurance may need to seek bespoke covers, noted a recent Ukraine technical update from claims manager Crawford. “The purpose of a political violence policy is to dovetail with the commercial property policy and…
Alberta auditor general gives qualified thumbs up to oil well cleanup spending
March 23, 2022 by The Canadian PressEDMONTON – The Alberta government is getting mostly check marks from the province’s auditor general over how it handled the billion dollars it got from Ottawa to clean up abandoned oil and gas wells and get service contractors back to…
A new way for insurers to handle construction delays and cost overruns
March 17, 2022 by Jonathan E. McNattySince 2016, the federal government’s slated nearly $100 billion to support development of transit extensions, shipping port improvements, affordable housing and more. When private-sector construction slowed in March 2020, federal infrastructure building quickly filled the gap. And, throughout 2021, both…
Five factors driving M&A activity in 2022
March 15, 2022 by Philip PoradoCalendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center…
How insurers are rethinking ransom coverage
March 15, 2022 by Jason ContantRansomware has long been a thorn in the side for insurers, particularly in recent years. And, although the market will continue to see rate changes in reaction to ransomware losses over the next year, “insurers will be equally focused on…
Dangerous driving doesn’t necessarily trigger policy exclusion for intent to injure
March 14, 2022 by David GambrillA driver pleading guilty and spending nine months in jail on a charge of dangerous driving causing bodily harm does not necessarily prove he intended to cause the injuries, an Alberta court has found. In other words, an auto insurer…
Police, convenience store industry prepare for gas thefts as prices continue to rise
March 11, 2022 by Brittany Hobson - THE CANADIAN PRESSPolice and small retailers are preparing for an increase in “gas-and-dash” thefts as gasoline prices across Canada soar following sanctions against Russia that have put the squeeze on global oil supply. The invasion of Ukraine just over two weeks ago…
Insurers checking their war exclusions for cyberattacks
March 10, 2022 by Philip PoradoWhile cyberattacks have increased since Russia invaded Ukraine and numerous countries responded with tighter sanctions, most of those attacks have been more basic distributed denial-of service attacks on both sides of the conflict, said a DBRS Morningstar commentary on cyber…
How supply chain back-ups are contributing to cargo theft
March 9, 2022 by Jason ContantSupply chain disruptions and back-ups due to COVID-19 and other factors (such as a shortage of drivers or trucks to deliver product) are contributing to concerns around cargo theft, a transportation industry expert says. “When you have more [cargo] that’s…
Tory critic asks privacy commissioner to investigate hack of Freedom Convoy fundraising site
March 9, 2022 by The Canadian PressOTTAWA – The Conservative critic for ethics and accountable government says he has asked the privacy commissioner to investigate the hacking of a crowdfunding platform that raised money for convoy protests and blockades. Tory MP James Bezan says the…
Court sides with insurer in $2.5-million professional liability case
February 28, 2022 by David GambrillTwo creditor firms seeking to access insurance policy proceeds in a $2.5-million trust fund misappropriation case against a lawyer lost their bid to interpret the $500,000 sublimit as applying to each of their claims, instead of being an aggregate policy…
Lawyers on boutique D&O: Don’t just take your broker’s word for it
February 16, 2022 by David GambrillFor boutique D&O coverages, a law firm says companies should be bringing in a lawyer to look at the contract coverage and not just rely on the opinion of the insurance broker about coverage. This is particularly true in business…