Topic Risk Managers
These types of businesses are in serious need of a cyber policy
May 28, 2020 by David GambrillWith ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved…
A new trend for BI coverage dispute lawsuits
May 28, 2020 by Greg MeckbachCommercial insurers who deny business interruption claims during COVID-19 could be sued by clients whose legal fees come from third-party litigation funding providers, an industry watcher suggests. “One thing that is happening now is a lot of insurance companies are…
Military reports ‘shocking’ conditions in Ontario nursing homes
May 27, 2020 by Colin Perkel- THE CANADIAN PRESSTORONTO – A new report from the military helping battle COVID-19 in five long-term care facilities in Ontario has revealed extreme neglect and exposed the extent of the ugly conditions facing residents, prompting Prime Minister Justin Trudeau to offer help…
Q&A: Business Continuity in the Digital Age
May 22, 2020 by David GambrillThere has been a significant amount of discussion, both within and outside of P&C industry, about whether a commercial insurance policy offers pandemic coverage for business interruption losses. Generally speaking, commercial liability policies exclude business interruption coverage for pandemic. However,…
What smaller brokerages need to sell cyber to SMEs
May 21, 2020 by David GambrillSmaller brokerages need improved tools to sell cyber insurance to small and mid-sized enterprises (SMEs), a cyber insurer told Canadian Underwriter recently. The industry is currently working to provide those tools, which may include a scaled version of the third-party…
Where the federal government sits with its national flood insurance review
May 20, 2020 by Greg MeckbachSix years after the federal government promised to explore options for a national approach to home flood insurance, the feds are still thinking about it. About 13,000 were recently evacuated from Fort McMurray, Alta., because of flooding on the Athabasca…
Cautions accompany Canada’s slow emergence from COVID 19 lockdown
May 20, 2020 by Mike Blanchfield - THE CANADIAN PRESSOTTAWA – As Canada’s economy slowly emerged from the COVID-19 lockdown, the chief public health officer was cautioning the country to temper its expectations and continue to take precautions to prevent a resurgence of the illness. Dr. Theresa Tam’s caution…
B.C. businesses grapple with new health protocols as reopening begins Tuesday
May 19, 2020 by Brenna Owen - THE CANADIAN PRESSVANCOUVER – As some British Columbia businesses prepare to reopen their doors on Tuesday when the province enters the second phase of its COVID-19 restart plan, others say they’re holding off while they grapple with new health protocols. Claire Wyrostok…
‘BI coverage’ misnomer puts the P&C industry behind the 8-ball: U.S. expert
May 14, 2020 by Adam MalikThe insurance industry set itself up for a public relations disaster when it comes to business interruption claims, and it should be prepared to be called out more often on the name given to the coverage, says one risk researcher.…
Employment lawyers on returning to work during and after the pandemic
May 12, 2020 by Nicole Thompson - THE CANADIAN PRESSTORONTO – As provinces begin the slow process of reopening their economies and people start returning to the workplace, questions abound about the rights and responsibilities of employees and employers in the aftermath of COVID-19. The Canadian Press asked two…
Regulators to brokers: What is your cyber security plan?
May 11, 2020 by Greg MeckbachWhat programs – if any – does your brokerage have in place to mitigate your own cyber risk? This is what your provincial regulator could be asking you, if they haven’t already. “If the Registered Insurance Brokers of Ontario knocks…
How COVID-19 may change the cyber insurance landscape
May 8, 2020 by David GambrillOne long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to…