Keyword
construction
Insurers must defend, even if damage falls below the deductible
May 24, 2022 by David GambrillInsurers have a duty to defend in construction cases involving policy exclusions for a “work performed” or “own work,” even if the amount of property damage claimed falls under the policy deductible, Ontario’s Court of Appeal has ruled. In GFL…
Key challenges facing your construction industry clients
April 6, 2022 by Jason ContantAn ongoing labour shortage, exacerbated by the COVID-19 pandemic, is one of the key issues facing the construction industry in general, says the head of risk control with Travelers Canada. “I think the biggest prolonged challenge that comes around, seems…
How brokers can help clients nip construction defects in the bud
April 5, 2022 by Jason ContantUnderstanding proper storage and handling of materials can help your construction clients avoid a loss later down the road. Being able to identify material damaged by ultraviolet rays or weather is a key component of a construction risk management plan,…
Recent NatCats reveal need to boost construction standards
February 4, 2022 Greg MeckbachEnforcing existing building codes, bringing in new construction standards and improving community planning are among the measures governments can take to mitigate the cost of property losses from natural catastrophes, industry watchers say. And arming consumers with better information about…
Paid Knowledgeable underwriting team is key to minimizing construction risk, losses
November 29, 2021 CansureWith an overall increase of 48.2% in housing starts across Canada at the beginning of 2021 and a GDP of well over $154B, it’s no surprise that the construction sector continues to be a hot topic across the insurance industry.…
MGA merger: RAISE Underwriting to acquire United Surety
November 10, 2021 Canadian Underwriter StaffSpecialty managing general agent (MGA) RAISE Underwriting in Toronto announced an agreement to acquire Mississauga-based independent MGA United Surety. The acquisition is scheduled to close January 1, 2022. RAISE CEO Matt Baynton said in a press release Nov. 4, “By…
‘Remarkably resilient’ construction industry to be key driver in economic recovery
November 1, 2021 Canadian Underwriter StaffDespite facing prolonged supply chain disruptions, rising materials costs and labour shortages, the construction industry is set to lead economic recovery from the COVID-19 pandemic globally, and in Canada. Although the near-term global economic outlook remains clouded by surging inflation…
Construction risk advice critical amidst continued supply chain issues
September 17, 2021 Canadian Underwriter StaffAdvising construction clients around risk management strategies and new exposures is critical as the industry continues to struggle through prolonged supply chain disruptions, the soaring costs of building materials and labour shortages amplified by the COVID-19 pandemic, a risk advisor…
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…