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Topic Loss Control

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How COVID-19 workplace risk advice has evolved

November 26, 2020 by Greg Meckbach

As the pandemic enters its ninth month, risk managers are seeing more emphasis on the length of conversations and the importance of wearing proper masks. “The key thing now is the length of contact with somebody else. Right now, if

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What happened to this therapist who was convicted of insurance fraud

November 17, 2020 by Greg Meckbach

An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to

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Hard market is trickling down to condo unit owners

November 13, 2020 by Greg Meckbach

The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and

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Winter tire use cut an auto insurer’s claims costs by this much

November 12, 2020 by Greg Meckbach

Vehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use

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Can a strata lot owner launch a subrogated water claim on behalf of its insurer?

November 11, 2020 by David Gambrill

We’ve all heard about an insurer launching a subrogated claim on behalf of its insured, but how about an insured launching a subrogated claim on behalf of its insurer? B.C.’s Civil Resolution Tribunal, a type of small claims court, recently

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Lessons for the industry from pandemic business interruption coverage disputes

November 10, 2020 by Greg Meckbach

Massive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private

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One essential thing required for condo premium relief

November 10, 2020 by Adam Malik

Clients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in

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Intact’s message to politicians wanting more commercial insurance regulation

November 5, 2020 by Greg Meckbach

Imposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring

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How this Supreme Court ruling impacts contractor insolvency risk

November 3, 2020 by Greg Meckbach

A recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a

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How much premium it would take for P&C insurers to absorb global BI pandemic losses

November 2, 2020 by Jason Contant

Property and casualty insurers would need to collect business interruption policy premiums for 150 years to make up for projected global output losses in 2020 related to the COVID-19 pandemic, the Geneva Association found in a recent study. “P&C insurers

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How much Northbridge could pay out in COVID claims

November 2, 2020 by Greg Meckbach

Long-term care facilities accounted for a good chunk of the US$25.5 million in COVID-19 losses that Northbridge reported in the three months ending Sept. 30, officials with parent company Fairfax Financial Holdings Ltd. suggested this past Friday. Toronto-based Fairfax released

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IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the