Canadian Underwriter

commercial insurance

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News BrokersClaimsInsuranceMarkets / Coverages

Which coverages will lead brokers out of the hard market?

September 5, 2023 David Gambrill

For several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now

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News ClaimsCommercial LinesInsuranceLegal

Why Berkshire Hathaway’s fidelity bond didn’t cover a Ponzi scheme

August 9, 2023 by David Gambrill

A fidelity bond issued by Berkshire Hathaway does not cover the loss of an investment firm arising from a Ponzi scheme perpetrated by one of its underlying fund managers. The Ontario Superior Court decision will be appealed, counsel for the

Reconstruction of a drainage ditch in the middle of a forest.
News ClaimsCommercial LinesLegal

Insurer loses $255,000 subrogation claim over modified excavator

June 9, 2023 by David Gambrill

AIG Insurance Company lost a $255,275 subrogation claim Tuesday on behalf of its insured, a forest management and logging company, because the insured could not prove a fire to an excavator it bought from Volvo didn’t start because of an

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News BrokersCommercial LinesMarkets / Coverages

The art of writing long-haul trucking

June 5, 2023 Phil Porado, managing editor

Long-haul trucking (LHT) insurance isn’t just for cargo and trailers — coverage must extend beyond the roadway. When underwriters consider long-haul trucking risks, they should examine broader business criteria such as a fleet’s age and size, vehicle class, the distance

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News ClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Aon reveals top risk exposure for Canadian companies in 2023

May 18, 2023 by David Gambrill

Canadian businesses are seeing a rise in the cost of their business interruption claims, causing BI to be one of their top risk concerns in 2023, according to a new report by Aon Canada. “The sources of business disruption for

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News BrokersEarnings / RatingsInsuranceMergers and Aqcuisitions

McDougall-McFarlan merger just the beginning for Definity

May 15, 2023 by David Gambrill

McDougall’s $232-million merger with Ontario brokerage McFarlan Rowlands last week is only the beginning for Definity, which is seeking more M&A growth to put it into the Top-5 P&C insurance companies in Canada. In its 2023 Q1 earnings call, Definity

Older business person with empty wallet can't afford insurance
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

Tips for advising commercial clients during economic downturns

May 9, 2023 Alyssa Di Sabatino

Inflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,”

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News BrokersCommercial LinesInsuranceMarkets / CoveragesProducts

Hard market cycle in global commercial lines on the downswing

February 2, 2023 by David Gambrill

Globally, cyber rates are increasing at a slower pace, and price increases in financial and professional rates fell for a second consecutive quarter, Marsh noted in its 2022 Q4 Global Insurance Market Index Thursday. Overall, global commercial insurance prices increased

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News BrokersClaimsCommercial LinesInsurance

How commercial insurers can mitigate claims costs

October 4, 2022 by Alyssa DiSabatino

Although inflationary pressures are adding to the cost of first- and even third-party property claims, commercial insurers can leverage their global resources to reduce these costs, says a commercial insurance exec. “[Inflation] affects the cost to restore a building,” said

Cargo airplane flying over container ship in the ocean.
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

Commercial insureds favour supply chain certainty over higher costs of goods

September 14, 2022 by David Gambrill

Commercial clients of the Canadian P&C industry are pragmatically accepting higher costs of goods to achieve more certainty around product and service delivery, one P&C industry executive observed. It’s a pragmatic response to a volatile world featuring war, a looming

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News ClaimsCommercial LinesInsuranceRiskTechnology

How your large business clients can manage cyber risks they can’t see

June 14, 2022 by David Gambrill

In the wake of lifting of pandemic restrictions, digital transformation is becoming so extensive that organizations are having trouble getting a handle on their broadening cyber exposures. “As organizations grow and incorporate digital and cloud transformation into the fabric of

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News ClaimsCommercial LinesInsuranceLegalLegislation / RegulationRisk

Sexual harassment: Grounds for dismissal, but not for denying severance

April 27, 2022 by David Gambrill

Slapping a woman on the buttocks in the workplace may be grounds for dismissal, but the threshold for terminating severance as a result of sexual harassment requires ‘wilful misconduct,’ the Ontario Court of Appeal has ruled. In essence, if the