Keyword
liability
Willis Towers Watson reports ‘meaningful’ price hike in commercial auto, modest price drops in other lines
December 12, 2016 by Canadian UnderwriterCommercial auto prices were generally up year over year in the third quarter, but there were “modest” prices decreases in other lines including commercial property and surety bonds, Willis Towers Watson plc said in its most recent Commercial Lines Insurance…
Personal and health-related information most desirable breach target, big risk for insurance: KPMG speaker
December 12, 2016 Angela Stelmakowich, EditorData breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber…
Ontario transportation department ‘has done little work’ to address liability for inadequate winter highway maintenance: Auditor General
December 2, 2016 by Canadian UnderwriterThere has been little movement on a recommendation made in 2015 that the Ontario Ministry of Transportation “consider incorporating contractor liability” if roads are not properly cleared during the winter, the province’s auditor general suggested in her 2016 annual report,…
Parents Know Best?
December 1, 2016 Peter Vlaar, Associate Lawyer; David Olevson, Associate Lawyer; and Sabrina Lucibello, Partner, McCague Borlack LLPCanada has no authoritative legal decision on parental waivers, which has created uncertainty over whether or not a properly drafted and duly executed waiver will serve as a complete bar to a claim. A New Brunswick case offers alternatives that might be employed until that gap in the law is filled, but businesses and insurers alike must factor into their liability risk analysis that parental waivers are unlikely to be enforceable.
Global aerospace insurance market to decline slightly from 2016 to 2020, new research suggests
November 30, 2016 by Canadian UnderwriterThe global aerospace insurance market will decline at a compound annual growth rate of -0.37% during the period from 2016 to 2020, according to a new report from Research and Markets. The Global Aerospace Insurance Market 2016-2020 report, released on…
Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS
November 28, 2016 by Canadian UnderwriterNew and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing…
Lawyer warns of privacy breach damages to victims who are a ‘little bit annoyed’
November 23, 2016 Greg Meckbach, Associate EditorThe rise of class action lawsuits alleging privacy breaches is raising the question of whether a corporation can be held vicariously liable when employees cause privacy violations to plaintiffs who do not actually prove they were harmed, a lawyer warned…
Global Aerospace reports drone insurance covering invasion of privacy, malicious damage ‘easier to obtain’
November 22, 2016 by Canadian UnderwriterInsurance carriers will expand their coverage of unmanned aircraft systems, or drones, while the absence, in the United States, of airworthiness certification requirements imposes a “considerable amount of diligence” on property and liability insurers covering drones, Global Aerospace Inc. suggested…
Chubb releases new suite of liability coverages for family offices in Canada
November 8, 2016 by Canadian UnderwriterChubb announced on Tuesday that it has released a new suite of insurance coverages to help family offices face liability exposures. “Family Office Amplifier is a flexible package of coverages that includes specialized terms and conditions that reflect today’s evolving…
Evolving Threat
November 6, 2016 Greg Meckbach, Associate EditorThe face of terrorism is changing, with soft targets like public areas increasingly being attacked by “lone wolves” who have been radicalized. And although related economic costs are climbing, the take-up for coverage has remained relatively flat.
Ontario-based MGAs Excess Underwriting and Towerhill Insurance Underwriters merge
November 3, 2016 by Canadian UnderwriterExcess Underwriting and Towerhill Insurance Underwriters Inc., both coverholders at Lloyd’s, announced on Thursday that they have merged effective Nov. 1. The companies will serve their broker partners as Excess Underwriting operated by Towerhill Insurance Underwriters Inc., said a joint…
40% of polled U.S. policyholders who purchased cyber coverage in last six months have increased coverage: Council of Insurance Agents & Brokers
October 28, 2016 by Canadian UnderwriterThe Council of Insurance Agents & Brokers (CIAB) in the United States has reported that nearly 40% of polled policyholders who purchased cyber coverage in the last six months have increased their coverage levels. Earlier this week, the CIAB released…