Topic Risk Managers
New Canadian P&C broking head for Willis Towers Watson
August 20, 2021 by Greg MeckbachDublin-based brokerage Willis Towers Watson PLC has appointed Kate Mead as head of its Canadian property and casualty broking team. Mead was previously Willis Towers Watson’s practice leader for the midwest, northeast United States and Canadian environmental business, the brokerage…
What to do when restaurant and hotel clients can’t find coverage
August 20, 2021 by Greg MeckbachCommercial brokers wanting to place coverage for restaurants and hotels need to understand how those clients were affected by the pandemic and make the best case on their risk profile to carriers, says the CEO of Insurance Brokers Association of…
Maritime farmers ship hay to drought-stricken Prairies
August 18, 2021 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – Farmers in the Maritimes are pitching in to help their drought-stricken Prairie counterparts facing a “devastating” situation. On his farm in the Annapolis valley north of Halifax on Tuesday, Tim Marsh was busy baling hay that will ship…
Supreme Court of Canada won’t reverse this municipal liability finding
August 17, 2021 by Greg MeckbachAn August 12 Supreme Court of Canada decision means a Toronto-area municipality remains not liable for an electric shock suffered by a teenager at a public sports field. Zoe Onley was 18 when she was placing soccer on a wet…
How to help clients mitigate water damage risk
August 17, 2021 by Canadian Underwriter StaffWith water damage claims due to infrastructure failures costing the industry much more per year than natural catastrophes, brokers need to be more proactive in helping clients understand coverages and risk mitigation strategies. Infrastructure and plumbing related water damage is…
Will 4th wave, mandatory vaccines spur more insurers to re-imagine the workplace?
August 16, 2021 by Canadian Underwriter StaffWith COVID-19 cases rising across Canada and several large employers — including the federal government — announcing they’ll require workers to be vaccinated, insurers and brokers may begin rethinking their return-to-office plans. Not long before the fourth wave hit, some…
How Lloyd’s insurers will react to capacity reductions in Canada
August 16, 2021 by Greg Meckbach“Constant churn” helps restore some capacity withdrawn by syndicates, though not always at the same terms and conditions, Lloyd’s Canada’s new president suggests. “When capacity is scarce in one or more syndicates, other syndicates likely view this as an opportunity,”…
How the Supreme Court of Canada has clarified statutes of limitations on lawsuits
August 13, 2021 by Greg MeckbachA Supreme Court of Canada ruling against the New Brunswick provincial government means it is now easier in some cases for defendants across Canada to argue lawsuits against them should be thrown out of court because they are time-barred, a…
4 causes of social inflation and why it’s costing your clients more
August 10, 2021 by Greg MeckbachSocial inflation is one reason your client’s commercial rates may be outpacing the insurers’ loss cost trends, a Bermuda insurer CEO suggests. “I define social inflation as including politicians, regulator, or courts re-defining wording in favour of claimants,” said Albert…
How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption
August 9, 2021 by Greg MeckbachLloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…
How Fairfax is reserving for COVID-19 business interruption reinsurance charges
August 4, 2021 by Greg MeckbachThe uncertainty around business interruption insurance coverage and the impact of a United Kingdom Supreme Court are among the reasons Toronto-based Fairfax Financial Holdings has put aside more than US$80 million this year in COVID-19 reserves. Fairfax reported July 29…
The many shapes of recovery
August 1, 2021 by David Gambrill, Editor-in-ChiefWill the post-COVID recovery follow the shape of a V, U, W, or square-root symbol? It all depends on the insurance.