OTTAWA – The federal government says nearly 5.4 million Canadians are now receiving emergency aid to replace incomes lost due to COVID-19. The figures this morning show 5.38 million applications have been processed since March 15, a figure that includes…
Brokers advising commercial clients that business interruption is not usually covered during a pandemic should not be surprised if those clients are hearing something different from their lawyers. “I would caution policyholders to thoroughly review their specific policy language before…
After recent events surrounding the COVID-19 pandemic, in addition to a recent Ontario Superior Court decision about business interruption in a nuclear incident, Canadian P&C underwriters may want to take a second look at the wording of their pandemic exclusions…
Canadian brokers want a uniform response from insurers on how to deal with commercial policies that have a 30-day vacancy or unoccupied clause. Most commercial property policies have such an exclusion, meaning that losses or damage to property is excluded…
HALIFAX – Though international shipping lanes and Canada’s major ports remain open for business, the COVID-19 pandemic is making life miserable for many seafarers. Under the latest rules, Canadian crews aboard most Canadian-flagged cargo vessels have agreed not to leave…
Canada’s property and casualty insurance companies have answered the call from brokers and customers for stepped-up relief measures to help cope with the financial impact of COVID-19. “It’s a very unusual set of circumstances, but in spite of that I…
If your clients are temporarily closing because of the COVID-19 pandemic, this might be a good time for them to undertake some repairs and let the fire department know they are reducing on-site staff, advises commercial insurer FM Global. “Countless…
Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were…
Insurance companies put in a position to cover business interruption losses regardless of how their commercial contracts were originally constructed could threaten their solvency on a global scale, warns a new report. In addition to negatively affecting the carriers’ liquidity…
TORONTO – The head of the Royal Bank of Canada is warning the economic recovery from the COVID-19 pandemic will likely be slower and more uneven than originally thought. CEO Dave McKay said Wednesday that the depths of the challenge…
Just because a business has closed its doors to staff and customers because of the COVID-19 pandemic, risks from fire, combustible materials and flood are still present at their physical buildings even when unoccupied, warned a new report from Allianz…
Brokerages who are running into computer or telephone problems because they sent workers home during the pandemic could get useful tips from major technology vendors. For example, Extreme Networks Inc. advises its own workers not to rely on their WiFi…