Calgary Flames sue insurers $125 million for pandemic-related losses
March 23, 2022 by Alyssa DiSabatinoThe Calgary Flames have filed a $125-million lawsuit against its insurers to enforce the terms of an all risks insurance policy for “massive losses” due to the COVID-19 pandemic. The named defendants in the statement of claim filed in…
How to navigate travel insurance ahead of March break as pandemic restrictions ease
February 24, 2022 Christopher Reynolds - THE CANADIAN PRESSMONTREAL – With the Omicron variant in retreat, Canadians looking to get away for spring break now have a more robust range of travel insurance options. The federal government announced last week it will roll back testing and quarantine restrictions…
How the P&C industry should shift its thinking about climate risk
February 11, 2022 by Jason ContantCanada’s P&C insurance industry needs to adapt its climate risk business model to focus more on loss prevention rather than indemnity, a speaker says Thursday at an industry event. And pricing needs to be forward-looking rather than based on historical…
Omicron variant raises uncertainty as companies downgrade forecasts
February 1, 2022 Christopher Reynolds - THE CANADIAN PRESSThe highly transmissible Omicron variant has prompted companies in the manufacturing and resource sectors to downgrade their earnings forecasts amid ongoing uncertainty linked to the COVID-19 pandemic. Cascades Inc., the Quebec-based packaging and tissue company, said Monday it expects fourth-quarter…
Returning to COVID-vacated offices comes with challenges
January 26, 2022 Mark CammisuliHumans weren’t the only ones impacted by the pandemic. The buildings in which we work and live have been subjected to some neglect and we are likely to start seeing the effects of this as we return to our pre-pandemic…
How to handle paperwork from pandemic-related policy changes
January 25, 2022 Tara KellyHave you noticed an uptick in new policies and policy change requests lately? Many P&C insurance companies have, because coverage needs for individuals and businesses throughout Canada changed drastically during the pandemic. For example, people who once had long commutes…
How are Ontario brokerages handling the new omicron restrictions?
January 20, 2022 by Alyssa DiSabatinoIn December, things were looking up. Despite rising COVID-19 infections from the upwardly-rampant omicron variant, many business sectors began to hopefully reopen as pandemic restrictions loosened and workers started coming back to the office part-time – a change from the…
Flight delayed because the crew has COVID? You’re covered for that….
January 14, 2022 by Jason ContantInsurtech Blink Parametric has partnered with Canadian managing general agent (MGA) AwayCare for real-time flight disruption coverage for Canadian travellers worldwide. Blink announced the partnership with travel insurance provider AwayCare, which has offices in Ontario, Alberta, and British Columbia. The…
Truckers say vaccine requirement for crossing border will exact economic toll
January 12, 2022 Christopher Reynolds - THE CANADIAN PRESSMONTREAL – Truckers are warning that a Jan. 15 deadline requiring them to be vaccinated in order to enter Canada will put additional strain on supply chains amid the latest COVID-19 surge and severe worker shortages. As of Saturday, truck…
Auto insurer issues third COVID rebate
January 11, 2022 by Jason ContantManitoba Public Insurance (MPI) is issuing its third COVID-19 auto insurance rebate in less than two years. The latest rebate totalling $312 million equals about $328 on an average private passenger policy, MPI said in a press release Dec. 30,…
Using your personal device for work? Why that matters to cyber insurers
January 10, 2022 by Jason ContantInsurers need to consider the hybrid workforce and employees using personal devices when reviewing a cyber risk, a managing general agent says. “Multi-factor authentication is critical as… employees access work email and networks remotely, sometimes even through a web application…
Businesses wants more government support amid latest Ontario COVID shutdown
January 6, 2022 Holly McKenzie-Sutter - THE CANADIAN PRESSTORONTO – Ontario businesses were hit with another round of pandemic-related closures and capacity restrictions Wednesday, but details of financial support remained scant as the measures took effect. Restaurants, gyms, cinemas and other indoor venues were forced to close while…