How Aviva is responding to dentists’ COVID-19 claims
April 2, 2020 by Greg MeckbachAviva Canada is promising guidance to dentists who want to submit claims arising from provincial government orders shutting down non-essential services. Aviva writes TripleGuard, a property and casualty insurance product for dentists provided by CDSPI, originally known as Canadian Dental…
Will COVID-19 affect the timing of Economical’s IPO?
April 2, 2020 by Greg MeckbachEconomical Insurance continues to work on converting from a mutual to a publicly traded firm, but officials with the Waterloo, Ont. carrier are keeping a close eye on the stock markets. “The outbreak of COVID-19 has adversely affected economic and…
Governments looking at further restrictions on people and businesses
April 2, 2020 Colin Perkel - THE CANADIAN PRESSTORONTO – An already grim economic and employment toll looked set to worsen Thursday as authorities pondered further tightening restrictions on people and businesses aimed at curbing the spread of the COVID-19 pandemic. Prime Minister Justin Trudeau said too many…
Why insurers can expect to see a surge in demand for pandemic BI coverage
April 1, 2020 by Greg MeckbachYour commercial clients could start asking for business interruption insurance that includes pandemic, if they have not already, a human resources lawyer says. “I think after this pandemic, most companies would probably be well-advised to take a look at their…
How Canada’s P&C industry will weather the economic storm from COVID-19
April 1, 2020 by Jason ContantCanada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus…
Intact’s take on how COVID-19 could extend the hard market
April 1, 2020 by Greg MeckbachPricing relief offered to Canadians who are currently absorbing a financial hit from the pandemic could ultimately have the boomerang effect of prolonging the hard market, Intact’s chief executive suggests. “It is clear to me that this corrective action [on…
Employers will have to show they prepared workers to avoid breaches, lawyer says
April 1, 2020 David Paddon - THE CANADIAN PRESSTORONTO – Amid the mass transition to remote working as a result of the COVID-19 pandemic, most employers are likely focused on operational issues in order to get their employees up and running in their new home offices. However, in…
The huge price tag of U.S. political interference with COVID-19 BI exclusions
March 31, 2020 by David GambrillPoliticians in New Jersey, Ohio and Massachusetts have all drawn up proposed legislation that would force U.S. property and casualty insurers to pay for some business interruption claims for COVID-19 retroactively. The American Property Casualty Insurance Association (APCIA) says the…
How to help commercial clients during mandatory business shutdowns
March 31, 2020 by Jason ContantAs non-essential businesses shutter across Ontario, your commercial business clients can take a few common sense preventative measures to help ensure their insurance coverage remains in place and facilities are maintained. To further contain the spread of COVID-19, Ontario Premier…
How Trudeau’s wage subsidy package will affect brokers and their clients
March 31, 2020 by Jason ContantBrokers will likely see their incomes “relatively stable” during the COVID-19 crisis, at least for the time being, said the head of Ontario’s brokers association. “Generally, I think brokerages – if they have a spread of clients, which most of…
The pricing relief Intact plans for commercial clients
March 31, 2020 by Greg MeckbachIntact Financial Corp. is responding to the COVID-19 pandemic by dropping commercial premiums, in some cases, if it finds the client’s risk has gone down. “We are adjusting risk profiles for customers where it might lead to premium relief,” Intact…
How this insurtech is encouraging innovation during COVID-19
March 30, 2020 by Greg MeckbachSlice Labs Inc., an insurtech with locations in Toronto and Ottawa, is adapting to the pandemic by helping insurers develop new products from people’s homes. “We are actively engaged in getting new products into the market – going full speed…