Keyword
construction
Who’s building your client’s green energy farm? Why you need to know
July 19, 2021 by Adam MalikWhether it’s a solar or wind turbine farm, or any other energy-related facility, an insurer expert is raising red flags about the quality of people at job sites. Underwriters care about a site and its propensity to be hit by…
Why construction projects are causing headaches for insurers
July 15, 2021 by Adam MalikBigger and more complex construction projects — especially those in established communities — are giving property and casualty insurance industry professionals in Canada a collective headache, says an industry expert. Construction projects have increased in complexity in recent times due…
Why construction insurance rates are starting to climb
July 12, 2021 by Adam MalikCanada’s lack of skilled workers means construction projects may not be hitting the mark in terms of quality and craftsmanship, leading to the greater likelihood of an insurance claim. It’s already happening, observes Darren Tasker, head of energy and construction…
Global insurance law firm expands its Canadian presence
June 23, 2021 by David GambrillGlobal insurance law firm Clyde & Co will be entering the B.C. market through a merger with SHK Law Corporation in B.C., effective July 1. The terms of the merger were not disclosed. B.C.’s property and casualty insurance market is…
British Columbia’s Site C dam faces one-year construction delay
March 1, 2021 The Canadian PressVICTORIA – British Columbia Premier John Horgan says completing the Site C dam is in the best interests of residents, despite the project’s price tag ballooning to $16 billion and completion date stretching to 2025. The premier told a news…
What’s making it harder to estimate property Cat claims
February 17, 2021 by Greg MeckbachRecent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in…
Partial building collapse in London, Ont. kills two workers, injures four others
December 14, 2020 Colin Perkel - THE CANADIAN PRESSTORONTO – Workers sifting through the rubble of a partially collapsed building in London, Ont., recovered the body of a second victim, city officials said on Sunday of the construction mishap that also killed the father of an infant. The…
How this Supreme Court ruling impacts contractor insolvency risk
November 3, 2020 by Greg MeckbachA recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a…
Why the status quo can be dangerous in the construction insurance world
September 9, 2020 by Jason Contant“We’ve always done it this way” are six dangerous words in the construction world, and equally dangerous for those trying to assess or procure adequate insurance for construction projects. “Doing what we’ve always done rarely is OK when we’re facing…
How your advice can help flood-proof future real estate development
August 26, 2020 by Adam MalikThere’s not enough collaboration between stakeholders in Canada’s real estate sector and risk professionals with information about natural hazards, and real estate investments could drown as a result, an expert warned. If real estate is constantly being exposed to damage…
Briefing Note: Manitoba
July 5, 2020 Canadian Underwriter StaffResidential real estate and construction have been hit with rate increases ranging from 8% to 650% this year in Manitoba, says Colin Matchyuk, a commercial account executive at HUB International’s Winnipeg office. That’s because apartment buildings built within 150 feet…
Despite re-openings, time is ticking on construction clients’ inactivity limits
May 14, 2020 by Adam MalikA “snowball effect” could leave some construction companies facing major financial challenges despite the slow re-opening of some of their closed worksites, one brokerage warns. In some situations, the damage may already be done, leaving brokers scrambling to help out…