Keyword
FM Global
Appeal court quashes ruling that ‘resulting physical damage’ can mean ‘loss of use’
September 13, 2021 by Greg MeckbachYour commercial client could get business interruption coverage if they can no longer “use” their property, but only if the policy wording actually says so, a Court of Appeal for Ontario panel suggests. MDS Inc. v. Factory Mutual Insurance Company,…
Big Moves: New market entrant in Canada launches with a familiar face
December 3, 2020 Canadian Underwriter StaffHaag Global has picked the former CEO of Giffin Koerth, now known as 30 Forensic Engineering, as its leader
FM Global appeals $25-million BI award arising from reactor shutdown
September 17, 2020 by Greg MeckbachFactory Mutual is appealing an Ontario court ruling that included a finding that “resulting physical damage” can mean loss of use. David Liblong, a partner with Liblong Digambar Professional Corporation, told Canadian Underwriter Wednesday that the insurer is appealing MDS…
Insurer ordered to pay $21 million in interest on a $25-million court award
August 14, 2020 by David GambrillAn Ontario court has ordered FM Global to pay compound pre-judgment interest of US$14.8 million (about CAD$21 million) on a $25-million court award. The business interruption claim arose out of a 2009 leak at the Chalk River, Ont., nuclear reactor. Based…
What to tell ‘non-essential’ clients who are closing their workplaces
April 8, 2020 by Greg MeckbachIf your clients are temporarily closing because of the COVID-19 pandemic, this might be a good time for them to undertake some repairs and let the fire department know they are reducing on-site staff, advises commercial insurer FM Global. “Countless…
These electronic devices might not be designed with cyber security in mind
February 4, 2020 by Greg MeckbachRansomware and privacy breaches may be among the top cyber threats on your radar, but are you aware of all of the connected manufacturing and other industrial control systems that may be at risk, a commercial insurer warns. “These production…
Alberta grocer’s subrogated $761,000 profit loss claim before the courts
October 9, 2019 by Greg MeckbachAfter 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…
Could this new construction method hike insurance costs?
August 27, 2018 by Greg MeckbachA 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…
Fort McMurray airport sues insurer for $34 million in wildfire losses
June 25, 2018 by Jason ContantThe 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…
Bid for taller wood structures raises red flag for one insurer
April 3, 2018 by Greg MeckbachGiven 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)…
P&C People: Who’s landed where?
December 7, 2017 by Canadian UnderwriterGuarantee 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…
Magnitude of U.K.’s Grenfell Tower fire was preventable: FM Global
October 5, 2017 by Canadian UnderwriterThe 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…