How the pandemic will change insurers’ medical assessments
September 23, 2020 by Greg MeckbachThe COVID-19 pandemic has prompted some insurers’ medical examiners to consider virtual exams instead of in-person exams when the examiner needs to speak with the claimant. “We work with a number of firms that provide independent medical assessments and evaluations…
One COVID cyber threat you may not have considered
September 22, 2020 by Jason ContantCyber exposure for your clients has shifted from the obvious operational standpoint of remote working during the COVID-19 pandemic to a data retention standpoint, a Gallagher executive said recently. “Many organizations are collecting personal health information on employees, maybe on…
Why restructuring firms are looking at their clients’ business interruption insurance
September 22, 2020 by Greg MeckbachSome clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for…
Aon exec urges the industry to ‘try to do better’ at offering basic coverages
September 22, 2020 by Adam MalikThe property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe,…
Film, TV productions can’t get COVID-19 insurance, want Ottawa to intervene
September 22, 2020 The Canadian Press - Tara DeschampsHundreds of productions and thousands of entertainment jobs are on hold because the federal government has yet to intervene and help them get COVID-19 insurance, say two Canadian film and television organizations. The Canadian Media Producers Association and the Association…
What brokers can expect to see in the quota share subscription business
September 21, 2020 by Adam MalikBrokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use,…
How Northbridge is advising clients to prepare for second COVID-19 wave
September 18, 2020 by Greg MeckbachOne key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that…
It’s full steam ahead for brokerage M&A, now that the pandemic pause is over
September 18, 2020 by Jason ContantAfter the COVID-19 pandemic temporarily paused brokerage mergers and acquisitions (M&A) activity in Canada earlier this year, it appears that the deals are once again moving forward at a steady pace. The markets’ reaction to the pandemic has been very…
Forecast models show Hurricane Teddy could hit Maritimes next week
September 18, 2020 Michael Tutton - THE CANADIAN PRESSHALIFAX – The Canadian Hurricane Centre’s top meterologist is suggesting the combination of Hurricane Teddy and a continuing pandemic should prompt Maritimers to plan well ahead for potential power outages. The storm was churning northward in the Caribbean Friday, with…
North American stock markets climb on continuing positive outlook for economy
September 17, 2020 The Canadian Press - Ross MarowitsTORONTO – North American stock markets climbed amid positive signals in Canada and elsewhere about the strength of a post-pandemic rebound. The good mood started with Chinese retail sales numbers moving back into positive terrain compared with a year earlier.…
The importance of tailoring electronic claims payments during COVID-19
September 16, 2020 by Jason ContantInsurers should be tailoring their claims payment options to the type of claim a policyholder has, a U.S. payment provider said during a recent webinar. “If it’s a disaster, [a policyholder] may need money immediately to go get a hotel…
Aon exec discusses industry ‘sins’ and puts COVID claims into perspective
September 16, 2020 by Adam MalikRiding the wave of high interest rates years ago, some P&C insurers and reinsurers overlooked their escalating combined ratios, an industry exec recently observed during a webinar. And that’s coming back to bite the industry now that the global COVID-19…