Keyword
construction
XL Catlin quadruples North American builder’s risk capacity to US$1 billion
March 9, 2017 by Canadian UnderwriterXL Catlin announced on Wednesday that it has quadrupled its builder’s risk insurance capacity to US$1 billion from US$250 million for construction firms in North America. The increased coverage for high-value commercial real estate projects is the result of a…
Tempering Temporary Risk
February 2, 2017 Ben Daee, Senior Consultant, Property & Construction, Rimkus Consulting Group, Inc.Temporary structures, commonplace on construction sites, can bring
with them significant high-risk exposures. Understanding the types and inherent risks associated with the design and erection of temporary structures is critically important to avoid damage, disruption and injuries.
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56…
Chubb introduces Cyber COPE, a new model for underwriting cyber insurance
December 13, 2016 by Canadian UnderwriterChubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services…
Information availability key to enhancing coverage in construction
November 14, 2016 by Angela StelmakowichHaving as much solid information as possible – as early as possible – can help open up the marketplace when it comes to available coverages for construction projects, Peter Campbell, Halifax branch manager for Jardine Lloyd Thompson Canada, suggested during…
Some increased risks developing in surety space, but these can be managed: panel
November 14, 2016 by Angela StelmakowichThe outlook for surety in Canada is healthy, but a number of developments are introducing increased risk that need to be taken into account and properly managed, speakers suggested during the Toronto Risk and Insurance Education Forum last week in…
Disputed course of construction claim involving LEG exclusion remanded back to B.C. appeal court
October 25, 2016 by Canadian UnderwriterA disputed $14.5-million claim on a course of construction policy, arising from an incident when concrete slabs over-deflected during the building of a hospital addition, was recently remanded by the Supreme Court of Canada to the British Columbia Court of…
Builder’s Risk
October 1, 2016 Timothy McGurrin, Partner, Miller ThomsonIn light of a recent Supreme Court of Canada ruling on a builder’s risk policy, insurers can anticipate that court decisions involving disputes over standard form insurance contracts are more likely to be appealed.
Recent earthquakes a reminder that events can happen anywhere: I.I.I.
August 26, 2016 by Canadian UnderwriterThe recent earthquakes in Italy and Myanmar are a warning to homeowners and business owners in regions that may also be at risk to consider purchasing earthquake insurance, notes the Insurance Information Institute (I.I.I.). Just 10% of homeowners in the U.S. have…
Low-quality cement, inadequate supporting rods among issues in Italian region hit by earthquake: Aon
August 24, 2016 by Canadian UnderwriterThe region of Italy hit by an earthquake early Wednesday morning, which killed at least 65, has buildings with “inadequate supporting iron rods” and a “relatively low” penetration of earthquake insurance for residential property, Aon plc’s Impact Forecasting LLC subsidiary…
Contractors say co-ordination needed as focus turns to rebuilding Fort McMurray
May 13, 2016 Ian Bickis - THE CANADIAN PRESSCALGARY – Construction and cleanup firms are already mobilizing to help rebuild Fort McMurray, Alta., after the wildfires, a monumental effort that’s expected to take years. Ben Dutton at the Casman Group of Companies says he has crews heading up…
Construction contractors who subcontract design work could take on more E&O liability risk: Chubb
March 31, 2016 by Greg MeckbachConstruction contractors involved in design-build projects take on additional professional liability exposure, while building information modelling software and employees storing data on wireless mobile devices can create cyber liability exposure, Chubb Ltd. suggests in a paper released Thursday. “Under the…