Canadian Underwriter

Keyword
covid19

News BrokersMGAs

How Lloyd’s says the industry can make commercial policies easier to read

October 21, 2020 by Greg Meckbach

Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler

News AssociationsClaimsClaims CanadaInsuranceLegal

Why brokers are going to get sued over pandemic business interruption claims

October 21, 2020 by Greg Meckbach

Some brokers are going to get sued by clients whose COVID-19 business interruption claims were denied, a keynote speaker warned Insurance Brokers Association of Ontario (IBAO) members Wednesday. “The main area of claim will be failure to advise of potential

News BrokersClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News ClaimsClaims CanadaInsuranceRisk

A business refuses to enforce public health regulations. Is it liable?

October 13, 2020 by Greg Meckbach

Commercial clients who fail to follow local health regulations could be considered a “moral hazard” to insurers, but liability claims under such circumstances during the COVID pandemic will not necessarily be denied, a Toronto commercial broker suggests. Commercial general liability

News ClaimsClaims CanadaCommercial LinesLegalRisk

How COVID-19 can trigger a ‘force majeure’ or ‘act of God’ clause in a contract

October 7, 2020 by Greg Meckbach

The COVID-19 pandemic could be considered an “act of God,” but that doesn’t necessarily mean a client can recoup a deposit for cancelling a large gathering, a recent British Columbia Civil Resolution Tribunal ruling suggests. While most property and casualty

News AdjustersClaims CanadaInsuranceLegal

What business interruption coverage appeal to U.K. Supreme Court could look like

October 6, 2020 by Greg Meckbach

British insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that

News ClaimsClaims CanadaInsuranceRisk

Intact warns of indirect economic impact from COVID

September 29, 2020 by Greg Meckbach

The economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said

News Claims CanadaInsurance

Does COVID lockdown constitute ‘prevention or hindrance of access’ under BI?

September 25, 2020 by Greg Meckbach

Clients who lost business income during the pandemic might not get coverage even if they have coverage for “prevention or hindrance of access,” but this depends on exactly how the policies are worded. The High Court of England and Wales

News ClaimsClaims CanadaInsuranceLegal

How Canadian courts could be influenced by U.K. business interruption test case

September 23, 2020 by Greg Meckbach

A recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the

News AdjustersClaims CanadaCommercial LinesInsuranceLegal

Why restructuring firms are looking at their clients’ business interruption insurance 

September 22, 2020 by Greg Meckbach

Some clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for

News Claims CanadaCommercial LinesRisk

How Northbridge is advising clients to prepare for second COVID-19 wave

September 18, 2020 by Greg Meckbach

One key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that

News ClaimsInsurance

Will the U.K. decision in a test BI case matter to Canada? Intact and ratings agencies weigh in.

September 17, 2020 by Greg Meckbach

The verdict in the British Financial Conduct Authority’s business interruption test case could have an impact outside of Britain, one credit rating agency warns, but Canada’s largest carrier appears to be largely unaffected. The vast majority of Intact Financial Corp.’s