Topic Loss Control
How Canada’s P&C industry feels about COVID safety in their offices
March 30, 2022 by David GambrillMore than seven out of 10 Canadian P&C industry professionals feel protected from COVID in their new hybrid office arrangements, according to an online poll conducted this week by Canadian Underwriter. Over 650 P&C professionals answered CU‘s survey, including brokers,…
How war in Ukraine may impact business loss claims
March 25, 2022 by Philip PoradoCanada’s insurers are in a bit of a holding pattern about how war in Ukraine may drive claims activity among businesses with ties to the region. Canadian Underwriter contacted numerous insurers and the consensus on any changes to claims and…
Supply chain concerns overshadow logistics data hacks
March 24, 2022 by Philip PoradoWhile the winter freedom convoy protests and bridge blockades highlighted Canada’s strained supply chains, insured business interruption events linked to logistics problems were common long before the pandemic. Insurers working with logistics clients note congested ports and a lack of…
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…
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…
‘Antivirus on steroids’ — one way to protect your clients from ransomware
March 16, 2022 by David GambrillTo help clients detect their cyber exposures, insurers are recommending ‘powerful’ preventative measures such as endpoint detection responses (EDR) — dubbed ‘antivirus on steroids.’ Used in combination with multi-factor authentication, EDR is deemed superior to traditional anti-virus software because the…
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…
What if the disaster models are wrong?
March 14, 2022 by Canadian Underwriter StaffFor nearly a quarter century, the Office of the Superintendent of Financial Institutions (OSFI) has required Canadian P&C carriers to demonstrate capacity for handling major earthquakes, including so-called one-in-500 year events. Canada’s P&C industry is well capitalized and backed by…
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…
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…
How Intact is faring with the RSA integration
February 3, 2022 by Jason ContantIntact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation…
Omicron variant raises uncertainty as companies downgrade forecasts
February 1, 2022 by Christopher Reynolds - THE CANADIAN PRESSThe highly transmissible Omicron variant has prompted companies in the manufacturing and resource sectors to downgrade their earnings forecasts amid ongoing uncertainty linked to the COVID-19 pandemic. Cascades Inc., the Quebec-based packaging and tissue company, said Monday it expects fourth-quarter…