How clients may argue BI covers pandemic if no physical damage occurs
September 4, 2020 by Greg MeckbachSome clients seeking business interruption coverage arising from the COVID-19 pandemic are looking to the courts for a “generous” interpretation of policy wording, a Canadian lawyer says. “In the context of property damage claims related to the novel coronavirus, many…
Insurers adding pandemic exclusions in commercial policies that go beyond just BI
September 2, 2020 by Greg MeckbachMany insurers that did not start adding pandemic exclusions this past July may have to do so in January, a Winnipeg-based executive with commercial brokerage Gallagher reports. “The majority of insurers – or all insurers – are adding specific wording…
Auto insurer sees severe accidents spike on pandemic’s open roads
September 1, 2020 by Jason ContantThis year so far is on track to be the worst year in a decade for serious/catastrophic injuries, government auto insurer Manitoba Public Insurance (MPI) reported Friday. While traffic volumes still remain relatively low due to the COVID-19 pandemic, many…
MGAs finding it harder to place this kind of commercial coverage
September 1, 2020 by Greg MeckbachIf you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner…
What could happen when carriers disagree over commercial property pandemic exclusions
August 31, 2020 by Greg MeckbachWith commercial insurers adding pandemic exclusions to property and business interruption, it can be difficult to place a risk with multiple insurers unless they agree on what that exclusion should look like, a Quebec broker suggests. Some clients, especially during…
Opinion: Expected M&A rise brings opportunities for brokers
August 27, 2020 Ben Nelson, CFC UnderwritingTransaction liability insurance is a valuable tool for helping buyers and sellers facilitate mergers and acquisitions — and presents a significant opportunity for brokers to add value to their client offering and drive revenue growth. From humble beginnings more than…
Non-resident property owners allowed back in Newfoundland and Labrador soon
August 27, 2020 by Jason ContantST. JOHN’S, N.L. – People who own property in Newfoundland and Labrador but who don’t live there full-time can apply to enter the province next week. Dr. Janice Fitzgerald, the province’s chief medical officer of health, said Wednesday that the…
Why UK insurers say coverage for disease within 25 miles does not apply to COVID business interruption
August 25, 2020 by Greg MeckbachIf a client has business interruption coverage for occurrence of a disease within 25 miles of the property that causes a local government authority to place restrictions on the use of premises, this would not cover widespread lockdowns in case…
How the public currently views the insurance industry
August 24, 2020 by Adam MalikAfter a sharp drop, people are starting to feel a bit more positive towards the insurance industry. As the COVID-19 pandemic grew, the insurance industry’s image as a whole suffered. But, says a recent report, things are trending upwards once…
What brokers should consider with seasonal properties during COVID
August 21, 2020 by Greg MeckbachIf any of your clients own cottages or seasonal properties with no one living there overnight permanently, you might want to find out if the COVID-19 pandemic has changed the way those properties are used. Robertson Insurance Brokers Ltd. has…
Why insurance regulator says this ‘notifiable contagious disease’ clause covers BI in pandemic
August 21, 2020 by Greg MeckbachWhether business interruption coverage for a notifiable human infectious or contagious disease within a certain distance from the client’s premises actually insures closure due to COVID-19 was a hotly contested issue in a British trial that recently wrapped up. The…
How COVID-19 has changed selling cyber insurance
August 21, 2020 by Adam MalikBrokers and insurers should expect an upswing in cyber insurance demand, if they haven’t seen it already, as the workforce shifts in the wake of the COVID-19 pandemic, a number of reports suggest. Just over a third (34%) expect to…