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Alberta grocer’s subrogated $761,000 profit loss claim before the courts

October 9, 2019 by Greg Meckbach

After an Alberta shopping mall experienced its fourth roof collapse, an IGA supermarket lost millions in sales because it had to close for more than six months. A business interruption claim of nearly $800,000 followed, but the calculation of the

News ConstructionInsuranceRisk

Could this new construction method hike insurance costs?

August 27, 2018 by Greg Meckbach

A client occupying a tall wood building could face higher insurance costs, a group of masonry producers claims, while one fire insurer confirms such a building deserves closer scrutiny from an underwriter. Your insurance premiums would be higher as an

News CatastrophesClaimsInsuranceMarkets / Coverages

Fort McMurray airport sues insurer for $34 million in wildfire losses

June 25, 2018 by Jason Contant

The Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim

News ConstructionInsurance

Bid for taller wood structures raises red flag for one insurer

April 3, 2018 by Greg Meckbach

Given a recent movement afoot to increase height limits for wood frame buildings in Canada, property insurance underwriters need to be wary of writing risks for such structures, an expert with one insurer notes. A private members’ bill (Bill 19)

News AppointmentsInsuranceMarkets / CoveragesProfessional Development

P&C People: Who’s landed where?

December 7, 2017 by Canadian Underwriter

Guarantee Company of North America appoints two members to board of directors The Guarantee Company of North America has appointed Bev Wittmack and Dawn Tattle to its board of directors. Wittmack is a director of JEH Enterprises Inc., a privately-owned

News CatastrophesClaimsConstructionInsurance

Magnitude of U.K.’s Grenfell Tower fire was preventable: FM Global

October 5, 2017 by Canadian Underwriter

The magnitude of the fire that engulfed London’s Grenfell Tower in June was preventable, according to a newly released whitepaper from FM Global, one of the world’s largest business property insurers. On June 14, a massive fire broke out in

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Threats of cyberattacks, natural disasters and supply chain failure most pressing global business performance risks: FM Global

May 11, 2017 by Canadian Underwriter

Cyberattacks, natural disasters and supply chain failure are three of the most pressing risks to global business performance in the 21st century, according to the 2017 FM Global Resilience Index. The online, interactive annual index ranks 130 countries and territories

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

FM Global launches worldwide flood map for commercial properties

April 4, 2017 by Canadian Underwriter

Commercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Combined ratio down 2.1 points for FM Global

March 31, 2017 by Canadian Underwriter

Property insurance carrier FM Global released Thursday its financial results for 2016, reporting gross premiums earned of $5.44 billion. All figures are in U.S. dollars. In 2015, Johnston, R.I.-based FM Global had reported gross premiums earned of $5.49 billion. Net

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Equipment failure, cyberattacks and natural disasters top operational risks in the U.S. over the past five years: FM Global

January 18, 2017 by Canadian Underwriter

Equipment failure, cyberattacks and natural disasters have negatively affected operations at companies based in the United States over the past five years, according to a new FM Global-commissioned study on operational risks. The study, titled Finance’s Role in Operational Risk

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Large-format lithium-ion batteries greater hazard in warehouse fires than smaller such batteries: FM Global

December 7, 2016 by Canadian Underwriter

Large-format lithium-ion batteries, such as those used in electric cars, tend to ignite more quickly in a warehouse fire and generally present a higher hazard than small-format batteries used in smartphones and laptops, according to new research. FM Global, one

News CatastrophesInsuranceMergers and Aqcuisitions

Businesses plan to “invest in resilience” in aftermath of Hurricane Matthew: FM Global

October 28, 2016 by Canadian Underwriter

The ravages of Hurricane Matthew are prompting businesses to rethink their natural hazards preparedness, with more than one out of four surveyed employees in the stricken region saying they believe their companies will increase investment in the area. The survey,