Keyword
business interruption
Why insurance regulator says this ‘notifiable contagious disease’ clause covers BI in pandemic
August 21, 2020 by Greg MeckbachWhether business interruption coverage for a notifiable human infectious or contagious disease within a certain distance from the client’s premises actually insures closure due to COVID-19 was a hotly contested issue in a British trial that recently wrapped up. The…
Is the pandemic hiding your commercial client’s under-insurance issues?
August 19, 2020 by Adam MalikThere may be fewer instances of under-insurance related to business interruption during the COVID-19 pandemic era, but brokers can’t let the issue of purchasing the right amount of cover to fall off the radar when advising their commercial clients. In…
Insurer ordered to pay $21 million in interest on a $25-million court award
August 14, 2020 by David GambrillAn Ontario court has ordered FM Global to pay compound pre-judgment interest of US$14.8 million (about CAD$21 million) on a $25-million court award. The business interruption claim arose out of a 2009 leak at the Chalk River, Ont., nuclear reactor. Based…
Policies under the microscope
August 7, 2020 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
Opinion: It’s on us as brokers to explain BI to clients
August 6, 2020 Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc.Business interruption has become a touchy and even confusing topic for some of our clients, but it’s on us as brokers to ensure they properly understand the scope of its coverage. Business interruption will continue to be an important coverage…
TD Insurance’s unique defence to BI class action lawsuits
July 30, 2020 by Greg MeckbachA coverage dispute lawsuit filed in Ontario mistakenly alleges that TD General Insurance writes business interruption coverage, the insurer says. A proposed Ontario class action filed July 6 alleges TD and dozens of other insurers are in breach of contract…
Hotels sue Aviva Canada for $150 million in proposed BI class action
July 27, 2020 by David GambrillLerners LLP has filed a proposed $150-million class-action lawsuit against Aviva Canada on behalf of hotels across the country, claiming that the hotels are entitled to coverage for loss of business income relating to COVID-19. “We know these are challenging…
Hub’s rationale for advising clients to file BI claims
July 24, 2020 by Adam MalikHub International is advising clients to submit claims related to the COVID-19 pandemic, even if there isn’t a physical damage loss. Business interruption has been the most-inquired-about coverage area over the last few months, noted Scott Fouts, vice president of…
Why Intact is named in lawsuit over COVID business interruption coverage
July 10, 2020 by Greg MeckbachMore than a dozen Canadian property & casualty insurers, including the largest in the nation, are named in a new proposed class-action lawsuit over business interruption coverage during the COVID-19 pandemic. The notice of action was filed July 6 with…
The Aviva contagious disease policy wording at issue in class action BI coverage dispute
July 8, 2020 by Greg MeckbachThe question of whether non-essential businesses that closed during the pandemic are entitled to claim insurance – specifically, for cover arising as a direct result of an outbreak of contagious or infectious disease within 25 kilometres that is required by…
More class actions headed to court over pandemic business interruption
July 7, 2020 by Greg MeckbachClass actions asserting pandemic BI insurance coverage are starting to mount in the ‘In’ baskets of Canada’s insurance defence bar. Most recently, Koskie Minsky announced July 6 that it will be one of two firms (the other being Merchant Law)…
When courts might rule against insurers in business interruption coverage disputes
June 11, 2020 by Greg MeckbachA commercial insurer could end up paying for losses that the carrier never intended to cover if a business interruption insurance policy covers government orders or advice to shut down a workplace without clearly excluding something like a widespread pandemic,…