Segment
Underwriting
How you can cut down time spent searching underwriting manuals
October 5, 2020 by Greg MeckbachSome brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting…
Appeal court dismisses lawsuit against Economical over additional insured endorsement
October 5, 2020 by Greg MeckbachA solar energy developer has lost its appeal against Economical in a commercial coverage dispute regarding an additional insured, in which the policy wording referred to “liability arising out of the operations” of the insured. “Contractual insurance obligations and additional…
‘Much clearer picture’ of how Ottawa will address flood risk coming soon
September 29, 2020 by Greg MeckbachA special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,…
The pandemic-induced change Intact says has ‘proven to work’
September 28, 2020 by Greg MeckbachInsurers who sent most of their employees home to work have demonstrated remote access can indeed work — and even offer co-workers an opportunity to get to know each other’s families better — but it may be challenging over the…
Feds urged to consider backstop for ‘tail risks’ such as pandemic, quake and flood
September 25, 2020 by David GambrillDiscussions around providing pandemic coverage in the future are highlighting the need to develop a Canadian federal government backstop for other serious “tail risk” events such as earthquakes, floods and wildfires, says the president of the Property and Casualty Insurance…
What you need to do to get your client’s submission approved by underwriters
September 24, 2020 by Adam MalikBrokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these…
Winners and losers of the COVID-19 quarter
September 24, 2020 by David GambrillAlthough COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one…
Veteran brokers are seeing their first-ever hard market. What they need to know.
September 18, 2020 by Greg MeckbachBrokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…
One thing an insurer will consider before investing in commercial surety bonds
September 17, 2020 by Jason ContantSpecific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior…
Why Uber Canada dropped Intact as its insurance provider
September 16, 2020 by Greg MeckbachRide sharing firm Uber Canada chose Economical as its insurance provider because Uber would not agree to Intact’s pricing, a senior Intact executive said Tuesday. “We had a very good relationship, we just couldn’t agree on the price,” Intact CFO…
P&C industry braces for a ‘second wave’ of COVID liability
September 15, 2020 by David GambrillThere is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers…
Mixed result in British court ruling in business interruption coverage dispute
September 15, 2020 by Greg MeckbachIf a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the…