Keyword
construction
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…
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…