Most property and casualty insurance brokers have been working remotely from home for nearly two months, managing a crush of client needs during the novel coronavirus pandemic. In doing so, they have provided a lesson in trust. Serving customers successfully…
Canada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call…
Fewer than 1% of the commercial property policies that Intact Financial Corp. writes should incur business interruption claims from the coronavirus pandemic, company officials suggested Wednesday. But the insurer has set aside more than $80 million to account for possible…
Business continuity plans should consider four main areas while preparing for the P&C industry workforce to return to work in an office setting, KPMG told Canadian Underwriter in an interview Friday. These four areas include: Identifying the people responsible for…
Now that many insurance professionals have been successful working from home, plenty of technologies they are using now are expected to stick around even after the COVID-19 pandemic subsides, according to a number of P&C experts. “The tools we’re using…
There’s no rush to return to the office for many brokers, but that doesn’t mean there isn’t a lot to think about before heading in. While Quebec announced it will start to end its “pause” on the economy — though…
As the P&C industry plans to return to the office safely while remaining socially distant, perhaps the greatest challenge lies in accommodating anxious, digitally-empowered employees and clients who aren’t yet ready to return to traditional workplaces while the pandemic is…
Ontario’s fire marshal says there’s been an increase in fire deaths this year as COVID-19 measures force many people to stay home and do more home cooking. Jon Pegg says there have been 51 fire fatalities between Jan. 1 and…
As we optimistically look forward to at least the beginning of the end of the COVID-19 virus, our industry should start to prepare for the “pandemic of litigation” that will undoubtedly follow. Our property and business interruption policies will be…
If a commercial insurer does not want business interruption covering a pandemic-related exposure, how should the policy be worded? One insurance defence lawyer would advise the carrier to add a section entitled ‘Pandemic/viral/bacterial infection’ to the list of exclusions. “I…
Canadian brokers are now turning their minds towards returning back to the office safely while the novel coronavirus pandemic is still underway and a vaccine has yet to be developed. Brokerages across Canada will need to be aware of what…
COVID-19 has highlighted the concerns associated with clustering suppliers in one region, such as China. Supply chain risk is one area of insurance that will see changes in the post-pandemic world, according to Tracy McLean, senior vice president of global…