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How to best insure clients against kidnappers

July 16, 2018 by Jason Contant

While kidnap and ransom (K&R) insurance is one type of insurance nobody wants to have to use, there are a few things that should be kept top of mind for brokers placing the coverage. The most important consideration revolves around

News InsuranceMarkets / CoveragesMGAs

Insurers jumping out of the trampoline business

July 8, 2018 by Jason Contant

Canadian insurers are jumping out of the trampoline business. Gina Bennett, vice president of Markel Canada’s western region, told Canadian Underwriter Thursday that there are few markets to approach for trampoline risks, as most sports insurance carriers have exited writing

News InsuranceMarkets / Coverages

Bomb threats highlight liability risk of office towers with lax security

May 30, 2018 by Greg Meckbach

In the wake of a threatened bombing in Stratford, Ont., and a restaurant bombing near Toronto, landlords of office towers may want to review their security systems to reduce their risk of liability. In general, owners of multi-tenant buildings have

News InsuranceMarkets / CoveragesMGAs

One theory why Lloyd’s underwrites so much Canadian business

May 6, 2018 by David Gambrill

Insurance professionals fresh to Canada’s property and casualty insurance market from Europe may notice how much of Canada’s commercial business is underwritten by Lloyd’s of London. “Lloyd’s (as a market) is again the largest commercial writer in Canada [in 2017],

News InsuranceMergers and Aqcuisitions

Want to acquire an MGA? Here’s what you can expect to pay (and why)

February 21, 2018 by Jason Contant

Brokers or managing general agents (MGA) looking to buy another MGA could be looking at multiples of four times commission just to be able to compete with insurers looking to make the same purchase, industry analysts say. Philip Heywood, partner

News InsuranceMarkets / Coverages

MGAs being asked to place more standard commercial risks

January 25, 2018 by Greg Meckbach

Brokers are finding it more difficult to place some standard commercial risks, such as property and liability, and this is changing the managing general agent market, an official with a new MGA association says. “A number of the standard market

News InsuranceMarkets / Coverages

One reason why Canadian businesses aren’t buying terrorism coverage

November 23, 2017 Greg Meckbach, Associate Editor

Canadian businesses are taking a pass on terrorism insurance because they are not convinced they face a high enough risk to warrant the extra premium of at least $2,500 a year, brokers say. Property and commercial general liability policies tend

News InsuranceMarkets / Coverages

How a terror attack could spawn E&O claims against brokers

November 22, 2017 Greg Meckbach, Associate Editor

If a terrorist attack takes place in Canada, brokers could face errors and omissions (E&O) claims from business clients whose property and liability policies do not cover them, the director of a Canadian managing general agent suggested Wednesday. A typical