How can you prevent construction claims stemming from disputes over project costs that rise due to inflation? For construction project owners, the simplest way to control escalating costs may appear to be sticking to the contract price. The contractor bid…
Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in…
Supply chain disruptions can be circumvented if businesses start to engage in ‘friendshoring,’ one risk expert told the RIMS Canada Conference in Halifax. “Friendshoring is a polite way of saying the only people you can have in your supply chains…
Commercial clients who suffered a cyber data breach may be inclined to quickly pay the ransom and get back on their feet, but brokers should advise their clients not to forget about post-breach communication with their customers and employees. If…
Client sent a text while driving and got caught? A conviction for that infraction beyond the police fine can cost a driver a 70% premium hike when it’s time to renew, said a new study from RatesDotCa. The study was…
Inaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported…
Investors are increasingly pursuing companies for ‘greenwashing,’ referring to company directors who misrepresent their climate credentials or fail to act in accordance with their stated climate goals, says a financial services executive at Marsh Canada. Commercial brokers can help their…
The chief operating officer of Canada’s largest P&C insurer is confronting a conundrum he never faced before the pandemic — he’s not sure how to get all of his employees to work in the office. It’s not an issue unique…
Aging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and…
Two-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance…
New York’s Attorney General has launched a civil lawsuit against former U.S. president Donald Trump alleging financial fraud, including allegations he “[induced] insurers to provide insurance coverage for higher limits and at lower premiums.” New York Attorney General Letitia James’…
Profitable insurance companies mean stable and reliable protection for insureds during a time of uncertainty, and the property and casualty insurance industry in Canada should not be shy about reinforcing this message, industry execs told the NICC Conference in Halifax…