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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

News Earnings / RatingsInsurance

How A.M. Best predicts pandemic could affect the Canadian P&C industry

September 8, 2020 by Greg Meckbach

An increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so

News BrokersClaimsClaims CanadaCommercial LinesInsuranceLegalReinsurance

Insurers adding pandemic exclusions in commercial policies that go beyond just BI

September 2, 2020 by Greg Meckbach

Many insurers that did not start adding pandemic exclusions this past July may have to do so in January, a Winnipeg-based executive with commercial brokerage Gallagher reports. “The majority of insurers – or all insurers – are adding specific wording

News BrokersMGAs

MGAs finding it harder to place this kind of commercial coverage

September 1, 2020 by Greg Meckbach

If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner

News Commercial Lines

What could happen when carriers disagree over commercial property pandemic exclusions

August 31, 2020 by Greg Meckbach

With commercial insurers adding pandemic exclusions to property and business interruption, it can be difficult to place a risk with multiple insurers unless they agree on what that exclusion should look like, a Quebec broker suggests. Some clients, especially during

News ClaimsClaims CanadaInsuranceLegal

Why UK insurers say coverage for disease within 25 miles does not apply to COVID business interruption

August 25, 2020 by Greg Meckbach

If a client has business interruption coverage for occurrence of a disease within 25 miles of the property that causes a local government authority to place restrictions on the use of premises, this would not cover widespread lockdowns in case

News Insurance

What brokers should consider with seasonal properties during COVID

August 21, 2020 by Greg Meckbach

If any of your clients own cottages or seasonal properties with no one living there overnight permanently, you might want to find out if the COVID-19 pandemic has changed the way those properties are used. Robertson Insurance Brokers Ltd. has

News Insurance

Why insurance regulator says this ‘notifiable contagious disease’ clause covers BI in pandemic

August 21, 2020 by Greg Meckbach

Whether business interruption coverage for a notifiable human infectious or contagious disease within a certain distance from the client’s premises actually insures closure due to COVID-19 was a hotly contested issue in a British trial that recently wrapped up. The

News Brokers

How COVID-19 could permanently alter Marsh & McLennan

August 19, 2020 by Greg Meckbach

Travel and entertainment spending could be down permanently for Marsh & McLennan Companies Inc., though it’s sure to rise again somewhat later this year, suggests CEO Dan Glaser. “I am not sure we will go running back to hopping on

News BrokersClaims CanadaLegal

How the largest commercial brokerage views its COVID E&O exposure

August 18, 2020 by Greg Meckbach

Although some commercial clients may start “suing everybody” because their business interruption insurance did not cover income lost during the pandemic, brokers could not have obtained broad-scale pandemic coverage for all clients even if they wanted to because the exposure