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…
Ministers warn COVID-19 researchers anew of threat of hostile actors
September 15, 2020 The Canadian PressOTTAWA – A trio of federal cabinet ministers is warning COVID-19 researchers to take additional precautions to protect their efforts from thieves and vandals. The statement Monday says the federal government is concerned about “hostile actors” targeting pandemic-related research in…
Pandemic relief: Keeping the size of auto insurance discounts in perspective
September 14, 2020 by Greg MeckbachSometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance…
The ‘new normal’ workplace that could be coming your way
September 11, 2020 by Adam MalikWhile a rating agency complimented the property and casualty insurance space for pivoting its work environment from the office to employee homes, a new workplace survey has found that Canadian employees are looking for greater flexibility in choosing where they…
How brokerage buyers are reacting to COVID market conditions
September 11, 2020 by Jason ContantDemand for Canadian property and casualty insurance brokerages remains strong during the COVID-19 pandemic, but potential brokerage purchasers are becoming more targeted in their approach, a P&C transaction advisor observed. “For most potential transactions, the list of potential purchasers has…
Why Canadian P&C insurers in a good spot to tackle ongoing challenges
September 10, 2020 by Adam MalikCanadian property and casualty insurance companies are in a good financial position going forward as challenges — both new and continuing ones — mount, according to A.M. Best’s latest outlook. Over the last 10 years, the vast majority of Canadian…
TD faces class-action lawsuit over travel insurance and cancelled trips amid pandemic
September 10, 2020 Christopher Reynolds – The Canadian PressToronto-Dominion Bank is facing a class-action lawsuit over its refusal to pay travel insurance claims following trip cancellations triggered by the COVID-19 pandemic. Lead plaintiff Kevin Lyons cancelled his family’s flight to Italy along with their Mediterranean cruise in early…
The key demographic noticing the industry’s technological pivot
September 9, 2020 by Adam MalikThe property and casualty insurance industry’s response following the global declaration of the COVID-19 pandemic and how it adjusted quickly in numerous aspects, especially technology, has made the industry more attractive to new graduates, according to a recent report. While…
Why your clients aren’t feeling too good these days
September 9, 2020 by Adam MalikWhether it’s your personal or commercial clients, neither are feeling too optimistic about their financial situation as the COVID-19 pandemic continues to stress them out, a pair of recent surveys have found. But the head of the national broker association…
COVID-19 compounds ongoing real estate insurance challenges
September 8, 2020 by Adam MalikThe global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,…
Thinking of selling your brokerage during COVID-19? Here’s how to proceed
September 8, 2020 by Jason ContantCanadian brokers considering an upcoming merger or acquisition may understandably be concerned given the economy during the ongoing COVID-19 pandemic, but one property and casualty brokerage M&A expert says his firm’s advice is the same as it’s always been. “That…
How A.M. Best predicts pandemic could affect the Canadian P&C industry
September 8, 2020 by Greg MeckbachAn increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so…