Topic Property
Restaurant fires and how they are caused
June 30, 2021 by Greg MeckbachKitchen exhaust and gas connections should be near the top of a restaurant client’s risk management agenda. Improperly maintained kitchen exhaust systems are a common cause of restaurant fires, wrote Larry Anderson, editor of TheBigRedGuide.com, in a recent article. This…
How reinsurance prices could come down
June 29, 2021 by Greg MeckbachRecord-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance…
Here’s what can go wrong if you give away a salvage vehicle
June 24, 2021 by Greg MeckbachA couple who thought they received a written-off camper trailer as a gift are entitled to some compensation for repairs they made before the registered owner came to retrieve the vehicle, a Newfoundland and Labrador court has ruled. Sherry Drake…
Aviva Canada exec predicts how long supply chain pressures will last
June 24, 2021 by Jason ContantA supply chain bubble that is putting pressure on the Canadian P&C insurance industry should burst within a year or two and it’s just a matter of riding it out, an Aviva Canada claims executive suggested during a virtual fireside…
Updated tailings code after Mount Polley disaster an improvement: B.C. mines auditor
June 18, 2021 by The Canadian PressVICTORIA – A new report says changes to British Columbia’s requirements for tailings storage after the Mount Polley disaster have generally improved the management of mining waste. The mines chief auditor found many of the revisions made in 2016 to…
Progress report: Canada-wide flood mapping is well underway
June 16, 2021 by Greg MeckbachA nationwide estimate of coastal, pluvial, and fluvial flood hazard is one part of the ongoing effort to come up with a national approach to insuring or re-locating homes at high risk of flood, a federal government official suggests. Flood…
Where Canada sits with national low-cost residential flood insurance
June 10, 2021 by Greg MeckbachSix possible flood insurance models for homes at high risk of flood are about to go through an actuarial review, a federal government official suggests. The Task Force on Flood Insurance and Relocation is going to hand off those possible…
MGA simplifies purchase and validation of tenant’s insurance online
June 9, 2021 by Greg MeckbachLandlords often require their tenants to have insurance coverage as a condition of the leases, but it could be quite a paper chase to keep track of thousands of tenants and their insurance status. Vancouver-based insurtech and managing general agent…
How home insurance rates in Canada are trending
June 8, 2021 by Adam MalikHome insurance rates in Alberta today have jumped nearly two-and-a-half times more than what they were 10 years ago, according to an analysis from a rate aggregator. Average home insurance premiums in Alberta have gone from $741 to $1,779 since…
In pollution claim, ‘sudden’ could mean several months, court finds
June 8, 2021 by Greg MeckbachInsurance coverage for a “sudden and accidental” release of diesel fuel can include a discharge that continued over several months, the Nova Scotia Court of Appeal has ruled in a commercial coverage dispute. As a result of Zurich Insurance Company…
A drastic (but effective) way to keep water out of the basement
June 2, 2021 by Greg MeckbachA foundation membrane could cost a homeowner client $15,000, and it is probably not something your clients should try installing themselves, but it is “often the most effective method” of waterproofing a basement, a Bobvila.com author suggests. A foundation membrane…
The real advantage of straight-through processing in the Lloyd’s market
May 31, 2021 by Greg MeckbachManaging general agents who can place small business coverage digitally through the Lloyd’s market are at a competitive advantage over MGAs using traditional paper-based processes, an insurtech CEO suggests. “We are one of the very few MGAs that has straight…