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Shareholders approve Aon-Willis merger
August 26, 2020 by Greg MeckbachAon plc’s proposed acquisition of Willis Towers Watson plc was approved Wednesday by both firms’ shareholders. The merger still requires approval from competition regulators in various jurisdictions (including Canada) plus the Irish High Court. Aon and Willis Towers Watson rank…
Why UK insurers say coverage for disease within 25 miles does not apply to COVID business interruption
August 25, 2020 by Greg MeckbachIf a client has business interruption coverage for occurrence of a disease within 25 miles of the property that causes a local government authority to place restrictions on the use of premises, this would not cover widespread lockdowns in case…
Intact’s Brindamour: Why the hard market could last for up to two more years
August 20, 2020 by Greg MeckbachA hard market in reinsurance is among three main reasons why primary insurance rates will continue to rise for brokers’ clients for at least another year or two, Intact Financial Corp. CEO Charles Brindamour suggests. In a recent virtual fireside…
How COVID-19 could permanently alter Marsh & McLennan
August 19, 2020 by Greg MeckbachTravel and entertainment spending could be down permanently for Marsh & McLennan Companies Inc., though it’s sure to rise again somewhat later this year, suggests CEO Dan Glaser. “I am not sure we will go running back to hopping on…
Why it’s hard to make telematics ‘commercially viable’ in Canada
August 13, 2020 by Greg MeckbachIf regulators continue to prohibit auto insurers from imposing surcharges when they detect risky driving behaviour through telematics, it will be difficult for usage-based insurance to be commercially viable, an Aviva Canada data science expert suggests. “Telematics is a good…
Policies under the microscope
August 7, 2020 by Greg Meckbach, Associate EditorHow the outcome of a test case in Britain over business interruption coverage during COVID-19 may reverberate throughout the Canadian commercial P&C market
How Aon and Willis are progressing on proposed merger
August 4, 2020 by Greg MeckbachThe acquisition of Willis Towers Watson plc by Aon plc is on track to close in less than a year as Aon officials don’t seem concerned the deal will be blocked by competition regulators. “We are exactly on track with…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
New 250 person public gathering limit fairly low risk: Quebec health official
August 4, 2020 by Morgan Lowrie - THE CANADIAN PRESSMONTREAL – The decision to allow public gatherings of up to 250 people comes with a relatively low risk of COVID-19 transmission compared to other riskier social activities, Quebec’s public health director said Monday. Dr. Horacio Arruda said there weren’t…
Who’s getting funding for new research in wildfire prediction, responses
July 31, 2020 by THE CANADIAN PRESSKAMLOOPS, B.C. – A university located in the heart of one of British Columbia’s most volatile forest fire regions will lead new research in wildfire prediction, prevention and response. Thompson Rivers University in Kamloops was chosen for the research that…
Canada’s arts and recreation businesses face greatest risk of closure: CFIB
July 30, 2020 by David Friend - THE CANADIAN PRESSTORONTO – Canada’s struggling independent businesses in the arts, entertainment and recreational sectors are at the highest risk of permanently closing due to COVID-19, according to the Canadian Federation of Independent Business. A new report released by the advocacy group…
Why Intact is “very confident” about defending pandemic-related BI claims
July 29, 2020 by Greg MeckbachTwo recent American court rulings in favour of insurers in COVID-related business interruption coverage disputes arose from policy wordings nearly identical to the vast majority of Intact Insurance’s BI policies, officials with Canada’s largest P&C insurer said Wednesday. “The language…