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Cat bonds starting to attract this type of investor

October 15, 2020 by Greg Meckbach

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,…

News Insurance

Why parametric options should be on every broker’s radar

October 15, 2020 by Adam Malik

Advising clients of parametric options will allow brokers and insurers to enhance their value and open up opportunities to provide more options for risk transfer and solutions to coverage issues that couldn’t be solved under traditional measures, says an insurer…

News Insurance

Aviva Canada’s approach to the new pandemic workplace  

October 15, 2020 by David Gambrill

As the COVID-19 pandemic extends into the fall and winter months, with cases continuing to rise throughout the country, it is critical that the industry’s leaders foster a culture of trust within their P&C organizations moving forward, an Aviva Canada…

News Insurance

Former Quebec premier suing government for $1M for privacy violation

October 15, 2020 by The Canadian Press

MONTREAL – Former premier Jean Charest is suing the Quebec government for violation of his privacy in connection with an investigation by the province’s anti-corruption unit. The lawsuit filed Friday in Montreal seeks $1 million in punitive damages and $50,000…

News Climate ChangeInsurance

IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.…

News Insurance

Cancelled contracts in the COVID age: A tribunal weighs in on a wedding, interrupted

October 14, 2020 by David Gambrill

A public health emergency such as a pandemic may be an unforeseen “act of God,” but that doesn’t necessarily mean it will make it illegal or impossible for a business to fulfill the terms of a commercial contract with a…

News Climate ChangeInsuranceReinsurance

The tough question for insurers withdrawing coverage from coal

October 14, 2020 by Greg Meckbach

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other…

News Insurance

2020 U.S. election: How a pandemic plan south of the border can help cure Canadian P&C insurers’ results

October 14, 2020 by Adam Malik

As the United States nears election day, Canadian P&C insurers and other financial analysts are trying to read the tea leaves for signs of a crisis mitigation strategy south of the border that would address the COVID-19 pandemic and its…

News Insurance

Ex-senator’s staff to be compensated $498K for harassment, abuse

October 14, 2020 by The Canadian Press

OTTAWA – The Senate of Canada will pay nearly half a million dollars in compensation to nine employees of a now-resigned senator who say they suffered harassment, including sexual harassment, on the job. The decision today to award $498,000 in…

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Why the court found the landlord responsible for this winter roof collapse

October 13, 2020 by Greg Meckbach

A courier firm has successfully sued its landlord for $188,000 after the roof of its Halifax area warehouse collapsed under the weight of snow and ice. In Transport Canpar L.P. v. 3258042 Nova Scotia Limited, released Oct. 8, Justice Richard…

News Insurance

How directs may gain the edge when drivers purchase a car

October 13, 2020 by Adam Malik

Insurers need to form stronger bonds with various ancillary organizations involved in a car purchase, so that insurance isn’t the last thing on a consumer’s mind at the end of the deal, says an industry consultant. But in seeking out…

News ClaimsClaims CanadaInsuranceRisk

A business refuses to enforce public health regulations. Is it liable?

October 13, 2020 by Greg Meckbach

Commercial clients who fail to follow local health regulations could be considered a “moral hazard” to insurers, but liability claims under such circumstances during the COVID pandemic will not necessarily be denied, a Toronto commercial broker suggests. Commercial general liability…