Canadian Underwriter

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commercial property

Firefighters extinguishing an industrial fire at the fire station holding on to the hose spraying the fire at a storage tank.
News CatastrophesClaimsCommercial LinesInsuranceLegal

Insurer successfully defends city’s appeal over fire response times

April 28, 2023 by David Gambrill

Canada’s top court Thursday refused to hear an appeal in a case in which a Quebec municipality was found 25% liable for a fire that destroyed a commercial building when not enough firefighters were present after 10 minutes to fight

Hand holding magnifying glass and looking at house model with row of coin money, house selection, real estate concept.
News BrokersClaimsCommercial LinesInsurance

Intact policyholder conflates ACV with replacement cost value

April 4, 2023 by David Gambrill

Intact recently won an appraisal dispute with an insured who originally claimed more than four times the market value of his business property after a fire, prompting the court to find the insured was conflating actual cash value (ACV) of

Picture of a business man smiling underwater, his business flooded
News ClaimsClimate ChangeCommercial LinesInsuranceLegalRisk

Extension covering “influx of water” trumps broad form flood exclusion

February 6, 2023 by David Gambrill

A commercial property policy extension granting coverage for an “influx of water derived from natural sources” trumps a policy’s broad form flood exclusion, Alberta’s Appeal Court has found in a 2-1 split decision. A bowling alley in Fort McMurray, Alta.,

Economy
News AnnouncementsBrokersInsuranceMarkets / Coverages

How Canada’s P&C market shifted in 2022

November 1, 2022 by Alyssa DiSabatino

Market conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market

Aerial view of a container ship passing beneath a suspension bridge. Semi truck with pink cargo container crosses above.
News Commercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial

Bowling. Lucky strike.
News ClaimsCommercial LinesInsuranceLegal

Fort Mac bowling alley covered for water damage despite flood exclusion

March 1, 2022 by David Gambrill

A Fort McMurray, Alta., bowling alley is entitled to coverage for water damage sustained in the April 2020 flooding, despite its insurance policy containing a clear flood exclusion. The Alberta Court of Queen’s Bench found Intact included a coverage extension

News Insurance

Small businesses move to lock in rental deals amid low vacancy rates  

April 16, 2021 Salmaan Farooqui, The Canadian Press

When Sohel Imani went looking for a second location for his bike shop in Toronto’s West End, he knew he’d be able to leverage the city’s current commercial rental market. With dozens of storefronts sitting empty in any given Toronto

News Insurance

Aon’s take on the state of the Canadian P&C insurance market

September 15, 2020 by Jason Contant

The first quarter of 2020 saw a continuation and acceleration of the Canadian risk and insurance market shift that took hold in 2019, with pricing increases, withdrawn capacity in several key lines of business, tightened terms, and an increasingly rigorous

News Insurance

Why water damage claims cost the industry more each year than severe weather claims

September 14, 2020 by Adam Malik

Water is the primary reason for rising commercial property claims costs and experts are putting the blame squarely on one major issue: Deteriorating infrastructure. Some industry experts say a sharp increase in water damage caused by aging and inadequate pipes

News AdjustersCatastrophesClaimsClimate ChangeEngineeringInsuranceRestoration

Property claim cycle times are on the rise: Xactware data

August 10, 2020 by David Gambrill

While everyone in the Canadian property and casualty insurance industry knows that quick claims response times are critical to consumer satisfaction, cycle times for property claims in Canada increased overall between 2018 and 2019, according to the latest property damage

News CatastrophesClaimsInsuranceLegal

Editor’s Note: Underwriting for the next pandemic

June 5, 2020 by David Gambrill

The social and economic impact of the novel coronavirus pandemic in 2020 is truly horrifying, saddening, and staggering. Many of us have lost loved ones, or know people who are out of work because of the potentially lethal virus moving

News InsuranceMarkets / Coverages

What commercial brokers are saying about the worrisome market turn

February 4, 2019 by David Gambrill

Whether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.