Deanna Brewer is NFP’s new senior vice president and account manager for surety in Canada. A P&C insurance industry vet with more than 25 years of experience in the surety business, Brewer was appointed for her technical knowledge and strategic…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
Property and casualty broker NFP announced it will integrate its surety practice into its Construction & Infrastructure (C&I) group, which supports companies in the construction space. These changes impact operations worldwide, including Canada, NFP said. “Surety plays a vital role…
Aviva Canada said it’s invested in OneClose Inc., a technology company that provides a financial solution to help owners of newly built condos save on what are called ‘interim occupancy fees.’ “Consumers who buy a newly built condo in Ontario face a…
Concerns from surety bond providers have prompted the Ontario government to make one change, effective this Thursday, to the state of emergency during the pandemic. As it stands, an emergency order suspending limitations means liens against construction projects technically never…
Placing surety bonds has become more challenging with the social distancing precautions underway with the COVID-19 pandemic, but it is possible to do this electronically, says an association representing insurers who write surety bonds. Surety bonds can now be placed…
The Guarantee Company of North America wants to take a disputed claim on a 20-year-old performance bond to the Supreme Court of Canada. The top court announced Feb. 7 that The Guarantee is applying for leave to appeal HOOPP Realty…
When do the terms of a surety bond allow a construction project owner to withhold payments to a contractor? This question could go to the Supreme Court of Canada, which recently announced a federal crown corporation wants to appeal a…
Cutbacks in oil and gas is one reason bond claims have become more frequent in Western Canada, a surety expert for the nation’s largest insurer suggests. A slowdown in the construction market in Alberta – and to some extent in…
If you place insurance for construction clients, they could be signing contracts that saddle them with risks that they should not be taking on. “We are beginning to see tenders coming out where not enough design work has been done…
Chris Sekine, the new president and CEO of Trisura Guarantee Insurance Company, reveals the hottest of the hot opportunities in commercial insurance lines right now.
The federal government should follow Ontario’s lead in addressing contractor insolvency before the federal budget bill becomes law, says the Surety Association of Canada (SAC). The federal budget bill, Bill C-97, was tabled in March and passed second reading on…