Canadian Underwriter

Keyword
surety

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MGA acquires Echelon’s surety division

December 11, 2023 by Jason Contant

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,

Construction site with heavy machinery and trucks
News BrokersInsurance

How NFP’s updating construction and infrastructure operations

September 7, 2023 Philip Porado

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

Boxes and plants stacked up by someone moving in to a new condo.
News InsuranceMarkets / Coverages

Insurance partnership helps condo buyers bridge builder fees

August 21, 2023 Philip Porado

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

News ConstructionLegislation / Regulation

How Ontario is responding to surety writers’ COVID-19 concern

April 14, 2020 by Greg Meckbach

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

News Construction

How COVID-19 impacts surety bond placement

March 26, 2020 by Greg Meckbach

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

News Legal

Supreme Court of Canada could review ‘joint and several liability’ clause in surety bond

February 12, 2020 by Greg Meckbach

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

News ClaimsLegal

How this surety bond could be examined by Supreme Court of Canada

December 9, 2019 by Greg Meckbach

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

News ConstructionInsurance

How oil patch woes impact surety bond losses

July 29, 2019 by Greg Meckbach

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

News ConstructionInsurance

How construction clients could be taking on too much risk

July 26, 2019 by Greg Meckbach

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

Feature

What’s new in specialty lines?

June 5, 2019 Jason Contant, Online Editor

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.

News ConstructionInsuranceMarkets / Coverages

How Ontario got it right on surety

May 30, 2019 by Jason Contant

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

News ClaimsInsurance

How subrogated claim leads to landmark win for Guarantee

January 18, 2019 by Greg Meckbach

A $1.9-million surety bond claim has resulted in a landmark court decision in favour of The Guarantee Company of North America. A-1 Asphalt Maintenance Ltd. went bankrupt in 2014. At that time it was a contractor on four road-paving projects in