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COVID-19: What this association wants its members to do during this time

March 19, 2020 by Adam Malik

The Insurance Brokers Association of Alberta is calling on its members to take necessary precautions amid the COVID-19 pandemic, including closing offices. The group is also temporarily shuttering its offices but will try to ensure members can still get their…

News Insurance

Commercial brokers remind industry about emergency ‘hold covered’ protocols

March 19, 2020 by David Gambrill

As Canadian businesses and individual policyholders adjust to a new era of social distancing and service restrictions or shutdowns, brokers and insurance companies have turned their minds towards extending policy renewal deadline dates in the event of a declared emergency.…

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How cybercriminals are targetting employees working from home

March 19, 2020 by David Paddon - THE CANADIAN PRESS

TORONTO – Cybersecurity experts are renewing their warnings that the COVID-19 crisis is a huge opportunity for criminals to take advantage of confusion as people are forced to work away from the office. A U.S. security firm says at least…

News ClaimsCommercial LinesInsurance

The good and bad news about event cancellation insurance

March 18, 2020 by Greg Meckbach

With events being cancelled left, right, and centre to avoid the spread of the novel coronavirus in Canada, there is good news and bad news for clients wanting event cancellation insurance. The good news is that insurers are probably not…

News AdjustersCatastrophesClaimsClaims CanadaInsurance

The impact of COVID-19 on independent adjusters

March 18, 2020 by Greg Meckbach

As most Canadians are being asked to leave home only when necessary, how will the property and casualty industry deal with a large catastrophe, such as a major wind storm, while still taking precautions to reduce the risk of COVID-19…

News BrokersInsurance

How brokers are responding to Canada’s economic support announcement

March 18, 2020 by Adam Malik

The Insurance Brokers Association of Canada (IBAC) is welcoming the federal government’s announcement of a slew of measures to assist Canadian employees, consumers, and businesses throughout the COVID-19 pandemic. Prime Minister Justin Trudeau announced that the financial aid, worth about…

News Insurance

Why Canada’s P&C industry is ready to absorb hit of pandemic-induced recession

March 18, 2020 by David Gambrill

Already under financial strain due to tightening markets in several lines of business, Canada’s property and casualty insurance industry nevertheless seems well-positioned to withstand a global recession triggered by the novel coronavirus pandemic — at least in the short term.…

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Volvo recalls vehicles to fix automatic braking malfunction

March 18, 2020 by THE ASSOCIATED PRESS

DETROIT – Volvo is recalling more than 736,000 vehicles worldwide because the automatic emergency braking system may not detect obstacles and stop the vehicles as designed. The recall covers certain 2019 and 2020 S60, V60, S90L and V90 models. The…

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How D&O claims could arise from COVID-19

March 17, 2020 by Greg Meckbach

If your clients are accused of failing to warn shareholders of the impact of COVID-19, their directors and officers could have liability exposure, experts from Marsh suggest. Generally speaking, directors and officers tend to have the same liability exposure as…

News Brokers

COVID-19: A brokerage’s guide to working from home

March 17, 2020 by Adam Malik

Brokerages that don’t have a pandemic or business continuity plan in place that allows employees to work from home could follow the lead of one Ontario brokerage that is trying to recreating the office workspace experience in their employees’ homes.…

News Insurance

Where the Co-operators is raising home insurance premiums

March 17, 2020 by Greg Meckbach

The Co-operators General Insurance Company reported a double-digit increase in homeowners’ premium growth in 2019, which the Guelph, Ont. insurer attributes to higher average premiums in Ontario and Western Canada. In its annual report released Wednesday, The Co-operators reported net…

News BrokersClaimsInsurance

What Intact is doing during COVID-19

March 17, 2020 by Adam Malik

Intact Insurance employees are working from home and the company has created a dedicated team to keep an eye on developments during the COVID-19 pandemic, the company told Canadian Underwriter. “We are taking steps as needed to keep our people…