Topic Liability
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…
How inflation, and possible recession, may create D&O headaches
December 6, 2022 by Philip PoradoFaced with wide-ranging global macroeconomic risks that include supply chain disruptions and labor shortages, stock issuers need to be careful about any disclosures and public statements. This is especially true for publicly traded companies that have directors and officers (D&O)…
New legal action for privacy breach doesn’t apply to hacked data aggregators
December 2, 2022 by David GambrillOntario’s new legal tort of ‘intrusion upon seclusion’ does not apply in class actions against data aggregators that have been hacked, the Court of Appeal has confirmed. Nine years ago, the courts came up with the new tort of intrusion…
Two welcome commercial premium trends, post-pandemic
November 25, 2022 by Jason ContantGallagher in Canada is seeing some interesting premium trends in liability and commercial auto lines, now that pandemic restrictions are virtually non-existent. Businesses such as restaurants were shuttered or faced restrictions throughout the peak parts of the pandemic, meaning that…
Why your SME client needs intellectual property ‘pursuit’ coverage
November 24, 2022 by Jason ContantYour small and medium-sized enterprise (SME) clients need to consider intellectual property (IP) ‘pursuit’ coverage to allow them to take on large corporations to protect their products and market share, a specialist insurance provider told Canadian Underwriter. A business’s ability…
Does an immuno-compromised adjuster have to return to field work?
November 23, 2022 by The CIP Society, Insurance Institute of CanadaFor almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a…
Hamilton, Ont. mayor calls for investigation after sewer leak went undetected for 26 years
November 23, 2022 by The Canadian PressHamilton Mayor Andrea Horwath is calling for an investigation after city staff discovered a pipe has been dumping sewage into the local harbour undetected for 26 years. Horwath says she has asked the city auditor to be brought in after…
What selling a brokerage and ‘The Bachelor’ have in common
November 17, 2022 by Philip PoradoDating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A…
5 client objections to buying cyber, and how to overcome them
November 14, 2022 by Philip PoradoWhen it comes to risk, your clients can be full of excuses. That tendency to deflect is particularly acute when discussions turn to cyber coverage. “My favorite one was ‘We outsource everything,’” which implies someone else was taking on all…
Are your clients’ short-term rental properties properly insured?
November 9, 2022 by George LongoWith COVID-19 safety protocols all but eliminated in Canada, many people are travelling and need places to stay. As an alternative to hotels, some are taking short-term rental spaces through services like Airbnb, VRBO and other online platforms. Now that…
Insurance premium tax exemption for B.C. First Nation with no reserve
November 4, 2022 by David GambrillQayqayt First Nation in B.C., which purchased a surety bond from a U.K. insurer as collateral for a bank loan to fund a legal action against the Crown for taking away its land, does not have to pay tax on…