A recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the…
The Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday…
Some clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for…
One key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that…
At the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a…
TORONTO – North American stock markets climbed amid positive signals in Canada and elsewhere about the strength of a post-pandemic rebound. The good mood started with Chinese retail sales numbers moving back into positive terrain compared with a year earlier.…
Riding the wave of high interest rates years ago, some P&C insurers and reinsurers overlooked their escalating combined ratios, an industry exec recently observed during a webinar. And that’s coming back to bite the industry now that the global COVID-19…
There is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers…
The first quarter of 2020 saw a continuation and acceleration of the Canadian risk and insurance market shift that took hold in 2019, with pricing increases, withdrawn capacity in several key lines of business, tightened terms, and an increasingly rigorous…
Among a myriad of issues facing Canada’s P&C industry, reduced capacity in the property and casualty insurance market is top of mind for one senior executive at Gallagher. “While rate is a very big concern, capacity reduction, to me, is…
If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the…
Sometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance…