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Doubled pricing, two-year recovery predicted for cyber lines, post-COVID

July 13, 2021 by David Gambrill

Brokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again. “I think the price has to reflect the…

First Nations want wildfire declaration News Insurance

First Nations seek emergency declaration from province over northern Ontario wildfires

July 13, 2021 by The Canadian Press

THUNDER BAY, Ont. – An organization representing 49 First Nations in northern Ontario is urging the province to declare a state of emergency over wildfires that it says are threatening several remote communities. The Nishnawbe Aski Nation says the declaration…

News ClaimsConstructionEngineeringInsuranceLegal

Temple Insurance wins appeal in construction wrap-up dispute

July 12, 2021 by Greg Meckbach

Temple Insurance Company has won its appeal of a 2020 Court of Queen’s Bench of Saskatchewan ruling in a disputed construction wrap-up liability claim. Temple now has to pay some (but not all) of the legal defence costs incurred by…

News Insurance

Commentary: Preventing policies without limits

July 12, 2021 by Harmon C. Hayden, Harmon Hayden Law

The recent case of Surespan Structures Ltd. v. Lloyds Underwriters presents a cautionary tale for underwriters. Underwriters will want to consider the principles expressed in this case. Among them, if limits to coverage are intended, then clear limits should be…

News Insurance

Why construction insurance rates are starting to climb

July 12, 2021 by Adam Malik

Canada’s lack of skilled workers means construction projects may not be hitting the mark in terms of quality and craftsmanship, leading to the greater likelihood of an insurance claim. It’s already happening, observes Darren Tasker, head of energy and construction…

News Insurance

Canadian MGA association selects MaryKate Townsend as president

July 12, 2021 by Jason Contant

MaryKate Townsend of Pacific Marine Underwriting Managers (PMU) has been named president of The Canadian Association of Managing General Agents (CAMGA), a national trade association representing MGAs in Canada’s property and casualty insurance industry. Michael Lough of Intact Public Entities…

News Insurance

Cyber insurance rates likely to rise amid escalating ransomware attacks

July 12, 2021 by David Paddon - THE CANADIAN PRESS

TORONTO – Companies looking to purchase insurance against cyberattacks in which their data is held for ransom will soon find it more expensive and difficult to obtain, according to a cybersecurity expert. Brent Arnold, a partner at law firm Gowlings…

News BrokersCommercial LinesInsuranceLegislation / RegulationRisk

Looking for a quick D&O rebound after COVID? Don’t hold your breath….

July 9, 2021 by David Gambrill

Brokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures…

News ClaimsLegal

Why delivery company is liable for damage to parked car

July 9, 2021 by Greg Meckbach

If a commercial auto client is accused of causing damage to a third-party vehicle, the client could be harming its legal position if it fails to produce a statement from its own driver. United Parcel Service Canada Ltd. is on…

News Insurance

Broker association exec offers thoughts on returning to the office

July 9, 2021 by Adam Malik

How brokers view their work is changing, and brokerage principals need to keep pace with these new expectations, says an executive at Ontario’s broker association. Employers in industries across the board are figuring out how (and whether) their staff will…

News RiskTechnology

How your commercial clients should be monitoring their cyber risk

July 9, 2021 by Greg Meckbach

With a large number of employees working from home during the pandemic, commercial clients need some way of assigning a risk score to the cyber exposure posed by their users, software applications, and hardware devices, a Canadian information technology security…

News Insurance

B.C. premier says he will lobby PM to enlist military for wildfire prevention duty

July 9, 2021 by Dirk Meissner, The Canadian Press

COQUITLAM, B.C. — British Columbia Premier John Horgan says he will lobby Prime Minister Justin Trudeau to deploy Canada’s military to help clear fire danger zones to prevent future wildfires. Trudeau and Horgan met Thursday with local government and First…