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Keyword
business interruption

News Insurance

St. Paul Fire & Marine wins business interruption coverage dispute

August 7, 2019 by Greg Meckbach

Say a commercial insurance policy stipulates that a coverage dispute lawsuit cannot proceed unless the client launches it within a year of discovering the loss. What happens if there is business interruption both before and after start of the limitations

News Insurance

Why record Great Lakes levels could cause billions in business losses

June 28, 2019 Christopher Reynolds - THE CANADIAN PRESS

Rising water levels are causing delays in the St. Lawrence Seaway that could cost the economy more than $1 billion, shippers and port operators say. A new study from the Chamber of Marine Commerce warns that opening the floodgates further

News ClaimsInsurance

One critical piece of advice to your client about BI cyber claims

April 16, 2019 by Jason Contant

Preparing in advance for how a cyber-related business interruption loss may play out can help transform the claims process, speakers said earlier this month at NetDiligence’s Cyber Risk Summit in Toronto. A lot of the “claims frustration” can be avoided

News Insurance

Common misconceptions about business interruption insurance

February 8, 2019 by Jason Contant

One strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife

News BrokersLegislation / Regulation

Broker lands in hot water after BI coverage miscue

February 5, 2019 by David Gambrill

A Manitoba broker landed in hot water after filling in for a vacationing colleague whose commercial client wound up without business interruption coverage. Broker John C. McDonald was fined $250 for his role in the coverage mix-up. When McDonald’s work

News Brokers

Fine for broker in business interruption coverage mix-up

July 13, 2018 by David Gambrill

A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on

Feature Claims CanadaInsurance

The evolving nature of business interruption

July 6, 2018 Aleksandra Zivanovic

In the face of climate change, cyber risks, and mass terror plots affecting entire regions and sometimes economic sectors, business interruption coverage is a challenging coverage to both write and adjust. This challenge is multi-faceted and directly impacted by global

Feature Claims

Covering your Interruption

April 5, 2018 Cary Schneider, Partner, Beard Winter LLP; and Greg Markell, President, CEO, Ridge Canada Cyber Solutions

For Canadian businesses, institutions and government agencies, ransomware and cyberbreaches have become an epidemic. Just five years ago, cyber risk ranked Number 15 in the annual Allianz Risk Barometer; this year, it has skyrocketed to Number 2.1 If you have

News ClaimsInsuranceMarkets / CoveragesTechnology

For how long will a ransomware attack knock out your client’s operations?

March 5, 2018 by Jason Contant

Companies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is

News InsuranceMarkets / CoveragesTechnology

How cyberattacks can sabotage the plants of your industrial clients

February 27, 2018 by Jason Contant

Industrial control systems (ICS) at manufacturing plants are perfect targets for cybercriminals because they are not designed with security in mind, Zurich Canada’s head of specialty products, Greg Irvine, said recently. Speaking at NetDiligence’s Cyber Risk Summit in Toronto on

News InsuranceMarkets / CoveragesProductsTechnology

This is what your cyber policies should focus on

February 1, 2018 by Jason Contant

Business interruption should be the focus of cyber insurance policies nowadays, Lindsey Nelson, international cyber team leader with CFC Underwriting, said to Canadian Underwriter in an interview on Monday. “I think it might be a matter of insurers are really

News InsuranceMarkets / CoveragesTechnology

Where you will find your next commercial cyber clients

January 29, 2018 by Jason Contant

Cyber insurance is evolving into the non-privacy space, with insurers moving more into business interruption coverage, Catherine Evans, vice president of Marsh Canada,  told Canadian Underwriter Monday. “Insurers are pushing more into the areas where it’s really more of an