Keyword
E&O
Broker or insurer: Who’s responsible for letters of non-renewal on auto policies?
June 23, 2022 by Jason ContantThe issue of how much responsibility an Ontario broker has for sending out non-renewal notices to auto insurance clients is in the spotlight, featuring an online discussion focused on adequate notice time and the possibility of errors and omissions (E&O)…
How broker E&O tracked during the pandemic
June 14, 2022 by Jason ContantBroker errors and omissions (E&O) claims grew during the pandemic for those who failed to maintain adequate levels of coverage for their clients, a broker E&O specialist says. While home and auto claims were down due to lockdowns, resulting in…
Which insurer is providing more E&O capacity to Canada
February 2, 2022 by David GambrillSigns are showing that stability – and more capacity – is returning to Canada’s commercial insurance market, including a recent announcement that the professional liability division of Cincinnati-based Great American Insurance Group has expanded into Canada. More specifically, Great American’s…
Fast pace of private equity investments means more insurance placements for portfolio companies
December 14, 2021 Jason ContantSpeed can equal success when a private equity firm is looking to acquire a company. But the rush to close a deal can also mean insurance gets put on the back burner. A private equity firm often buys a controlling…
Do your clients freelance? The right questions will get them proper coverage
December 8, 2021 Brooke SmithYour clients may love being their own bosses, or they may be self-employed by necessity. “If you look at what’s happening with the gig economy, it seems many [people] are either finding new careers and becoming freelancers or freelancing as…
The perils of highlighting key points in a policy
February 22, 2021 by Greg MeckbachHome insurance policies may be so long that consumers won’t read the entire thing, but it doesn’t mean that brokers should selectively highlight certain policy terms to clients, a brokerage leader warns. “For us, there are things we need to…
Why this insurer had to pay $187K for ex-Ontario PC leader’s legal defence
January 28, 2021 by David GambrillAn Ontario court has ordered Sovereign General to pay $187,313 to cover the legal costs of former Ontario Progressive Conservative Party leader Patrick Brown, who personally incurred the expenses while defending a defamation lawsuit arising from the publication of his…
Financially, which of your clients are hurting the most?
August 7, 2020 by David GambrillCanadian construction and real estate development companies appear to be hurting the most during the pandemic, according to bankruptcy records kept by the federal government. Twenty-seven Canadian companies have been granted creditor protection since the novel coronavirus was declared a…
Brokers urged to stay on top of coverage changes as businesses re-open
June 22, 2020 by David GambrillBrokers are advised to be aware of the “second wave” — and that doesn’t refer to the anticipated increase in the number of novel coronavirus infections in the fall. No, brokers are now being cautioned about the new wave of…
How brokers can protect themselves from lawsuits during COVID-19
April 28, 2020 by David GambrillBroker advice and advocacy are shining brilliantly during the days of the global pandemic, with insurer products, coverage options and consumer relief packages in a constant state of flux. Many in the P&C industry have noted that broker value has…
How E&O needs to change for emerging tech companies
September 20, 2019 by Jason ContantDoes a one-size-fits-all basic tech errors and omissions (E&O) policy that covers things like breach of contract or negligence still suffice for an emerging tech company? “Most probably not,” said Charlie Murray, international technology team leader with specialist insurer CFC…
Looking to grow your E&O? Consider emerging classes of consultants
July 9, 2018 by David GambrillAn emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions (E&O) insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance…