Canadian Underwriter

Keyword
business interruption


News BrokersInsurance

HUB’s advice to corporate clients who don’t have COVID-19 coverage

March 25, 2020 by Greg Meckbach

Hub International is encouraging corporate clients to report business interruption losses arising from COVID-19 even if they think those claims will likely be denied. “This way, the insurance companies can provide the official response,” said Mike Moyer, Toronto-based senior vice

News BrokersInsurance

Will commercial BI policies cover pandemics after COVID-19?

March 24, 2020 by David Gambrill

Will COVID-19 cause Canada’s property and casualty insurance industry to start introducing pandemic business interruption coverage, in much the same way Calgary’s 2013 floods prompted the industry to introduce overland flood coverage into home insurance policies? Don’t count on it.

News InsuranceMarkets / Coverages

Why business interruption worries Canadians more than cyber

January 14, 2020 by Adam Malik

Business interruption outranked cyber incidents as top concerns for Canadian businesses, brokers and trade organizations, according to a new report from Allianz Global Corporate & Specialty. Globally, however, it’s the other way around. When the annual Allianz Risk Barometer, which

News AdjustersClaims CanadaInsuranceRisk

Take-up rates low in this line of commercial insurance: Lloyd’s

October 22, 2019 by Greg Meckbach

Is your client’s loss of income covered if the business got interrupted because of a catastrophe that hit a supplier? That depends on what the policy says and whether the client actually bought contingent business interruption (CBI) insurance. And these

News Claims CanadaLegal

Alberta grocer’s subrogated $761,000 profit loss claim before the courts

October 9, 2019 by Greg Meckbach

After an Alberta shopping mall experienced its fourth roof collapse, an IGA supermarket lost millions in sales because it had to close for more than six months. A business interruption claim of nearly $800,000 followed, but the calculation of the

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