Topic Liability
Did the court jump the gun on allowing a negligence claim against a brokerage?
June 16, 2023 by David GambrillA brokerage has been added as a defendant in a sideline negligence claim, even though the central legal action for breach of contract involving two other parties (including a defendant reinsurer) has yet to be decided. Ontario’s Superior Court applied…
Collision between semi-trailer and bus kills 15, injures 10
June 16, 2023 by Steve Lambert and Jeremy Simes - THE CANADIAN PRESSDAUPHIN, MAN. – Flags were at half-mast as residents of a western Manitoba city awaited word on the fate of loved ones, while police started to piece together what caused a crash between a semi-trailer and a bus carrying seniors…
How Pride Toronto got swept up in entertainment line’s hard market
June 13, 2023 by Alyssa DiSabatinoPride Toronto’s executive director says the organization has seen a 300% increase in its insurance premiums ahead of this month’s parade and festival programming. This trend of higher premiums for public events is not unique to Pride Toronto; organizers of large…
What downtown ghost towns mean for commercial coverage
June 2, 2023 by Philip PoradoVaccines have blunted the worst edge of COVID-19, and that has employers urging workers to come back to pricey office space in Canada’s downtowns – if only once or twice a week. But a high percentage of office workers aren’t…
Why Canadian D&O insurers can breathe a sigh of relief
May 31, 2023 by Jason ContantD&O lawsuits claiming boards of directors breached their climate-related fiduciary responsibilities would likely not succeed in a Canadian court if the facts are similar to those in a recent U.K. court case, lawyers suggested in a Mondaq article Wednesday. Non-profit…
How hybrid work can increase broker E&O risk
May 31, 2023 by David GambrillWorkplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O…
What key factors spark E&O claims against brokers?
May 25, 2023 by David GambrillSenior broker retirements, a labour shortage that’s spurring firms to bring new, inexperienced employees into brokerages, and a hybrid office may be combining to increase a broker’s errors and omissions (E&O) exposure. “It’s very difficult to track [broker E&O] claims…
What’s new with cannabis insurance regulations?
May 18, 2023 by Jason ContantOne MGA is questioning a regulatory change in Ontario that dropped a mandatory requirement for licensed producers (LPs) of cannabis to hold $15 million in product recall insurance and instead raised the commercial general liability requirement to that amount. In…
Don’t let clients cheap out on cyber coverage
May 10, 2023 by Philip PoradoAs high-profile ransomware attacks continue to grab headlines, insurers providing directors and officers (D&O) coverage are concerned private company boards might not be managing cyber risk. “Are they allocating enough funds to cybersecurity? Are they going to have a lawsuit…
How is the cannabis insurance market faring?
May 9, 2023 by Jason ContantFour-and-a-half years after recreational marijuana use was legalized in Canada, cannabis companies continue to face a number of challenges, including insolvency, consolidation and low or flat growth, according to a recent report from EY Canada. “Established/mature markets — including Canada,…
What your business clients need to know about generative AI risks
May 4, 2023 by David GambrillCommercial brokers and insurers should alert their business clients to new liability risks around intellectual property (IP), copyright and licensing associated with using generative artificial intelligence (AI) technologies like ChatGPT, Dall-E and Bard. “Generative AI is a type of artificial…
Is political risk the next NatCat?
May 1, 2023 by Philip PoradoMuch like NatCat events, political risk losses tend to be low frequency but high severity, said a new Oxford Analytica survey, produced for WTW, on how global businesses are managing current political risks. “Political risk losses occur rarely but tend…