Keyword
covid19
What OSFI’s insurance head says about return-to-work
November 19, 2021 by Greg MeckbachStaff retention, professional development and the risk of worker isolation are among the factors the industry needs to think about when deciding on an approach to working remote or in the office. “As the pandemic eases and restrictions are lifted,…
How Willis Canada is handling remote work
November 12, 2021 by Greg MeckbachAdopting a hybrid work model makes sense for Willis Towers Watson Canada because the brokerage’s leaders learned it could trust employees who were working remotely. “We saw that during the pandemic, our productivity actually increased,” said Ofelia Isabel, managing director,…
Get your brokers back to the office: BFL CEO
November 4, 2021 by Greg MeckbachBarry Lorenzetti is encouraging you to get your brokers back to the office and if you disagree, don’t hesitate to contact him for a public debate. “It’s not as if COVID is going away and we will shut off COVID…
COVID shutdown not a ‘physical loss,’ insurance lawyer says
September 23, 2021 by Greg MeckbachA recent Court of Appeal for Ontario ruling, in favour of commercial property insurer FM Global, could be good news for insurers facing pandemic business interruption claims but the decision may also be reviewed by the Supreme Court of Canada,…
Business interruption class action against Aviva Canada now fully certified in Ontario
September 17, 2021 by Greg MeckbachAn Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording…
Why A.M. Best says the Canadian industry profitability is improving
September 15, 2021 by Greg MeckbachDespite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The…
Combined ratio drops 18.2 points in the Lloyd’s market
September 14, 2021 by Greg MeckbachThe Lloyd’s market has returned to profitability. The Corporation of Lloyd’s has reported a 2.1-point improvement in its attritional loss ratio, from 52.6% in during the first six months of 2020 to 50.5% in the first half of this year.…
A.M. Best unveils new estimate of reinsured COVID losses
September 3, 2021 by Greg MeckbachRecognized COVID-related losses are about US$40 billion for the global reinsurance industry, A.M. Best Company Inc. said in a reported released Aug. 30. Original estimates of insured COVID losses “easily exceeded” twice that US$40 billion figure, “with around half the…
Will 4th wave, mandatory vaccines spur more insurers to re-imagine the workplace?
August 16, 2021 Canadian Underwriter StaffWith COVID-19 cases rising across Canada and several large employers — including the federal government — announcing they’ll require workers to be vaccinated, insurers and brokers may begin rethinking their return-to-office plans. Not long before the fourth wave hit, some…
How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption
August 9, 2021 by Greg MeckbachLloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…
How Fairfax is reserving for COVID-19 business interruption reinsurance charges
August 4, 2021 by Greg MeckbachThe uncertainty around business interruption insurance coverage and the impact of a United Kingdom Supreme Court are among the reasons Toronto-based Fairfax Financial Holdings has put aside more than US$80 million this year in COVID-19 reserves. Fairfax reported July 29…
Intact’s latest observations on driving habits during pandemic
July 29, 2021 by Greg MeckbachWhile more than 100,000 Canadians a day are getting their COVID-19 shots, Canada’s biggest auto insurer is noticing an increase in driving activity but things are not quite back to normal. “Driving activity has been on the rise since early…