When evaluating unexpected catastrophe risks, our experiences can be sparse. Widening our knowledge by going back in time, by exploring the ‘near-misses’ and by expanding our geographic horizons is critical. Fortunately, big catastrophes are rare. This is good in that…
As businesses across the country continue their staged approach to reopening in the wake of the novel coronavirus pandemic, many brokerages are looking at what this “new normal” means for their company and staff. Some brokerages plan to reopen in…
A hard market in reinsurance is among three main reasons why primary insurance rates will continue to rise for brokers’ clients for at least another year or two, Intact Financial Corp. CEO Charles Brindamour suggests. In a recent virtual fireside…
Travel and entertainment spending could be down permanently for Marsh & McLennan Companies Inc., though it’s sure to rise again somewhat later this year, suggests CEO Dan Glaser. “I am not sure we will go running back to hopping on…
There may be fewer instances of under-insurance related to business interruption during the COVID-19 pandemic era, but brokers can’t let the issue of purchasing the right amount of cover to fall off the radar when advising their commercial clients. In…
Just because staff members are not choosing to return the office, that doesn’t mean employers can terminate them, an employment lawyer warned. If P&C organizations or their commercial business clients are culling employees for the wrong reasons, they could be…
Although some commercial clients may start “suing everybody” because their business interruption insurance did not cover income lost during the pandemic, brokers could not have obtained broad-scale pandemic coverage for all clients even if they wanted to because the exposure…
Given the persisting novel coronavirus infections and the economic fallout from the pandemic, it seems unlikely any reinsurers would want to set up new physical locations this year, but that’s exactly what may happen, speakers said recently during an A.M.…
TORONTO – Some private schools afraid they’d be blamed if a student gets COVID-19 are considering waivers to absolve them, but experts say that wouldn’t stop a parent from suing or a school from racking up legal bills. Toronto lawyer…
Three things in life are inevitable — death, taxes, and the transition to IFRS 17. With the country now over what appears to be the worst of the COVID-19 pandemic thus far, Canada’s solvency regulator, the Office of the Superintendent…
Innovation in the insurance industry has shown to be critical over the last number of months, and insurtechs are urging brokers and carriers not to lose the momentum they’ve established. Insurtechs called for closer collaboration between the property and casualty…
The P&C insurance industry has technical expertise it could bring to bear in covering future pandemics (risk management and claims adjustment experience, for example), but the financial losses would best be covered through public-private partnerships, speakers said recently during an…