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IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.

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The tough question for insurers withdrawing coverage from coal

October 14, 2020 by Greg Meckbach

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other

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2020 U.S. election: How a pandemic plan south of the border can help cure Canadian P&C insurers’ results

October 14, 2020 by Adam Malik

As the United States nears election day, Canadian P&C insurers and other financial analysts are trying to read the tea leaves for signs of a crisis mitigation strategy south of the border that would address the COVID-19 pandemic and its

News ClaimsInsurersTrending

Can it happen here? Political violence as a risk in Canada

October 8, 2020 by Adam Malik

Canada isn’t known for political violence compared to other parts of the world, but it’s a growing trend that has at least one insurer keeping its eye on developments. This year has seen an increase in political demonstrations in both

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What business interruption coverage appeal to U.K. Supreme Court could look like

October 6, 2020 by Greg Meckbach

British insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that

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‘We have a lot of work to do’

October 3, 2020 by Greg Meckbach, Associate Editor

How can the Canadian P&C industry ensure its workplaces reflect the communities they serve? We asked senior industry executives what can be done to make sure everyone feels respected and valued, regardless of demographic factors such as gender, skin colour, sexual orientation or gender identity. Here’s what they told us….

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Does COVID lockdown constitute ‘prevention or hindrance of access’ under BI?

September 25, 2020 by Greg Meckbach

Clients who lost business income during the pandemic might not get coverage even if they have coverage for “prevention or hindrance of access,” but this depends on exactly how the policies are worded. The High Court of England and Wales

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The good news and bad news about Ontario auto

September 24, 2020 by Greg Meckbach

Ontario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID

News BrokersBusiness InterruptionInsurersTrending

What brokers can expect to see in the quota share subscription business

September 21, 2020 by Adam Malik

Brokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use,

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Will the U.K. decision in a test BI case matter to Canada? Intact and ratings agencies weigh in.

September 17, 2020 by Greg Meckbach

The verdict in the British Financial Conduct Authority’s business interruption test case could have an impact outside of Britain, one credit rating agency warns, but Canada’s largest carrier appears to be largely unaffected. The vast majority of Intact Financial Corp.’s

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Mixed result in British court ruling in business interruption coverage dispute

September 15, 2020 by Greg Meckbach

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

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Why Canadian P&C insurers in a good spot to tackle ongoing challenges

September 10, 2020 by Adam Malik

Canadian property and casualty insurance companies are in a good financial position going forward as challenges — both new and continuing ones — mount, according to A.M. Best’s latest outlook. Over the last 10 years, the vast majority of Canadian