Chief medical health officer eases COVID rules in Alberta flood areas: premier
April 29, 2020 THE CANADIAN PRESSFORT MCMURRAY, Alta. – Premier Jason Kenney says the province’s chief medical officer of health is relaxing some COVID-19 restrictions for people who are dealing with flooding in northern Alberta. Kenney says in a tweet sent out late Tuesday that…
Is the risk of coronavirus a ‘physical loss’ to the property?
April 29, 2020 by Greg MeckbachCommercial insurers may say that business interruption does not normally apply to the pandemic because coverage only kicks in when there is an insurable property loss. However, some clients’ lawyers are arguing the coronavirus should in fact be considered a…
How brokers can protect themselves from lawsuits during COVID-19
April 28, 2020 by David GambrillBroker advice and advocacy are shining brilliantly during the days of the global pandemic, with insurer products, coverage options and consumer relief packages in a constant state of flux. Many in the P&C industry have noted that broker value has…
Brokers enduring short-term pain for post-pandemic gain
April 28, 2020 by Adam MalikInsurance brokers are facing short-term increased workloads for little — and even negative — reward during the COVID-19 pandemic. But these efforts are laying the groundwork for future prosperity, whether that be in terms of money, trust and recruitment, P&C…
Quebec to reopen retail, construction and manufacturing businesses
April 28, 2020 THE CANADIAN PRESSMONTREAL – Premier Francois Legault says most Quebec stores as well as companies operating in construction and manufacturing will gradually be allowed to reopen in the coming weeks. Under the plan, stores outside Montreal can reopen next Monday while those…
Should removing winter tires be a priority during pandemic?
April 27, 2020 by Greg MeckbachAs summer approaches in the midst of the COVID-19 pandemic, a key question is whether motorists with winter tires are getting their seasonal tire changes. Keeping winter tires on during the summer increases the risk of aquaplaning because winter tire…
How will COVID-19 change cybersecurity?
April 27, 2020 by David GambrillThe business email from your chief financial officer seems innocent enough: “Hey Larry, the client changed their bank account information. Can you send them money to their new bank account number?” Under ordinary circumstances — that is, before the novel…
The opportunity insurers are missing as COVID-19 cancels events
April 24, 2020 by Jason ContantAs large sporting and entertainment events get cancelled across Canada and the world as a result of COVID-19, the insurance implications affect not only event organizers themselves, but also promotional partners, licensees and businesses involved in merchandising. While event organizers…
The liability of long-term care facilities: COVID-19’s projected impact
April 24, 2020 by Greg MeckbachThe COVID-19 pandemic could cause large losses for liability insurers covering nursing homes and long-term care facilities, and therefore further tightening of rates, a Canadian managing general agent predicts. “There are a lot of exposures in the business,” Stephen Stewart,…
Will the pandemic spawn an industry-wide digital roadmap?
April 23, 2020 by Adam MalikBacking brokers into a corner and forcing them to use just one kind of technology is bad strategy, Joseph Carnevale, president of the Insurance Brokers Association of Ontario (IBAO), warned Wednesday during Canadian Underwriter’s webinar Business Continuity In The Digital…
No layoffs in Canada for this Top 5 liability insurer
April 23, 2020 by Greg MeckbachDespite the massive disruptions from COVID-19, commercial insurer Chubb Limited is promising no layoffs in Canada. “Concerning our no-layoff pledge, we want our 33,000 employees around the globe to be assured that their jobs are secure at this difficult time,”…
Four opportunities COVID provides for fintechs
April 23, 2020 by Greg MeckbachThe COVID-19 pandemic is putting renewed emphasis on digitizing of insurance processes including payments, claims, applications and signatures, a Canadian fintech venture capital executive suggests. “This is a good opportunity for fintech, because the acceleration of innovation in financial institutions…