Keyword
Lloyd's
How this broker is binding Lloyd’s policies online
March 19, 2019 by Greg MeckbachA Calgary-based Lloyd’s coverholder has re-launched its website to make it easier for brokers to bind policies for special events without having to deal with a lot of paper forms. PAL Insurance Brokers Canada Ltd. has allowed clients to apply…
The aftermath of ‘firm action’ in Lloyd’s market
February 8, 2019 by Greg MeckbachEight Lloyds syndicates have closed and some clients insured by the London market are seeing premiums increase four-fold, the head of a major Bermuda insurer suggests. “After some firm action by Lloyd’s in (2018), we saw the closure of eight…
Why the cyber market has become so crowded
January 31, 2019 by Greg MeckbachClients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
Lloyd’s disputes claim over diamond-studded statue
January 8, 2019 THE CANADIAN PRESSVANCOUVER – A major insurance company is fighting back after a British Columbia court required it to make good on a policy covering a gold, diamond-encrusted eagle statue allegedly stolen in Metro Vancouver more than two years ago. The B.C.…
Top court could hear disputed claim arising from $550-million ponzi scheme loss
November 5, 2018 by Greg MeckbachA major bank’s disputed $300-million professional liability insurance claim – arising from a Ponzi scheme in Florida – could reach the Supreme Court of Canada. Toronto-Dominion Bank bought an insurance policy from a syndicate of insurers, including Lloyd’s Underwriters in…
What’s next for Fairfax in the Lloyd’s market
November 2, 2018 by Greg MeckbachToronto-based Fairfax Financial Holdings Ltd. plans to buy the remainder of Lloyd’s insurer Brit PLC within the next couple of years, Fairfax president Paul Rivett said Friday. Toronto-based Northbridge Insurance and Stamford, Conn.-based OdysseyRe are among the insurance subsidiaries owned…
Insurer CEO explains why Lloyd’s model must adapt
October 29, 2018 by Greg MeckbachIf the Lloyd’s insurance business model is going to survive, it needs to adapt to today’s digitized world, suggests the chief executive officer of a large global insurer. “The Lloyd’s marketplace is important to the industry but it has longer…
Hub subsidiary Totten buys MGA in Atlantic Canada
October 3, 2018 by Greg MeckbachAnderson McTague & Associates Ltd., a New Brunswick-based coverholder in the Lloyd’s market, has been acquired by Toronto-based Totten Insurance Group Inc., a subsidiary of Hub International Ltd. Totten Insurance is a managing general agency founded in 2002 by H.…
Should Canada reconsider how it finances wildfire suppression?
August 13, 2018 by Jason ContantAs hundreds of wildfires burn across British Columbia, one disaster mitigation expert is recommending that Canada reconsiders how it finances fire suppression costs. Last year, B.C. alone paid out more than $560 million in fire suppression costs, and it is…
Supreme Court to determine fate of Lloyd’s payment in $5.6-million shipping loss
July 19, 2018 by Greg MeckbachThe Supreme Court of Canada has agreed to hear a dispute that will determine whether a Lloyd’s insurer may recover some of the claim money it paid out arising from a $5.6-million cargo ship loss on the St. Lawrence River.…
How Canadian brokers can cut out the ‘middleman’ – the insurers
July 17, 2018 by David GambrillCanadian insurance brokerages have already made inquiries to an Estonian-based insurance company that is working on a revolutionary blockchain distribution model. Black Insurance is setting its sights on cutting out the “intermediaries” in the insurance sales process – the insurance…
Court finds coverage for subcontractors when broad policy provision included by accident
July 5, 2018 by David GambrillA B.C. court has found that a design-build contractor and an architectural and engineering firm are both entitled to coverage under a Lloyd’s Underwriters policy that included a broad provision to insure “any firm(s)” providing “professional services” to a B.C.…