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Should the hard market run its course through COVID-19?

April 17, 2020 by Jason Contant

As the economic fallout from the COVID-19 pandemic continues during a hard market cycle, the solution to consumers’ woes may not be as simple as providing premium relief, one Quebec broker says. “We’re not seeing premium relief from insurers to

News BrokersInsurance

How Zurich and BFL helped Bauer’s move to make face shields

April 17, 2020 by Adam Malik

Sports equipment maker Bauer made headlines when it announced it would shift its production to making face shields for front line employees deemed essential during the COVID-19 pandemic. Behind the scenes helping to make it possible was its broker, BFL

News Insurance

What’s the risk of catching COVID-19 in your area?

April 16, 2020 by Adam Malik

New crowdsourcing tools have been made available to show your own personal risk of exposure to COVID-19, the disease caused by the novel coronavirus, in your neighbourhood. For example, If you want to know if your home, brokerage or insurance

News BrokersEmploymentInsurance

The impact of dire unemployment on P&C

April 15, 2020 by Adam Malik

George Hodgson was blunt in his observation of what would happen if fears of a 25% unemployment rate come true in his province. “It’ll be horrendous,” the CEO of the Insurance Brokers Association of Alberta told Canadian Underwriter of the

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As the pandemic drags on, plan how to protect your core services, Hub advises

April 14, 2020 by Jason Contant

Companies developing a business impact analysis (BIA) plan need to understand the amount of time the organization can function without producing a particular product or service, a senior executive with Hub International said recently. “We need to ask and answer

News BrokersClaimsInsurance

Is this how much pandemic coverage costs?

April 14, 2020 by Adam Malik

Famed tennis tournament The Wimbledon Championships has been buying pandemic coverage at a cost of millions of dollars per year for nearly two decades. And it’s set for a claims payout this year, according to a data analytics company. GlobalData,

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What brokerage leaders should be doing every day

April 13, 2020 by Adam Malik

Your employees may be struggling in a work-from-home environment, so it’s essential to check in with them to make sure they’re adjusting well, say brokerage leaders. Ensuring regular communication can go a long way to keeping their mental health strong.

News BrokersInsurance

This company is accelerating broker commissions

April 13, 2020 by Adam Malik

Some brokers will be getting their commission payments sooner from Travelers Canada, the company announced just before the Easter weekend. The move is being applauded by the Insurance Brokers of Canada (IBAC). Those who are on an annual payment system

News BrokersClaimsCommercial LinesInsurance

Brokers seek four relief measures for hard-hit commercial clients

April 13, 2020 by Jason Contant

Canadian insurers have rolled out a number of measures to help Canadian homeowners, drivers and business owners in need over the past week, and now Canada’s national broker association is discussing with insurers additional relief measures for commercial clients affected

News Commercial LinesInsurance

Brokers seek unified response from insurers on 30-day vacancy clauses

April 9, 2020 by Jason Contant

Canadian brokers want a uniform response from insurers on how to deal with commercial policies that have a 30-day vacancy or unoccupied clause. Most commercial property policies have such an exclusion, meaning that losses or damage to property is excluded

News BrokersInsuranceMarkets / CoveragesTechnology

How to protect your clients from cybercriminals cashing in on COVID-19

April 8, 2020 by Jason Contant

Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were

News BrokersInsurance

Have clients who have temporarily closed? Here’s how they should secure their premises

April 7, 2020 by Adam Malik

Just because a business has closed its doors to staff and customers because of the COVID-19 pandemic, risks from fire, combustible materials and flood are still present at their physical buildings even when unoccupied, warned a new report from Allianz