How this insurer is tackling short-rate cancellation fees during COVID-19
March 30, 2020 by Jason ContantOne mutual insurance company has decided to stop charging short-rate cancellation fees during the coronavirus (COVID-19) pandemic. “We have removed the short-rate penalty in all circumstances during this pandemic,” Enrico Mastrangeli, vice president of distribution and member innovation with The…
What Canadian P&C industry fears the most about the pandemic
March 30, 2020 by David GambrillCanada’s fragile economy is what’s keeping everyone in the P&C insurance industry awake at night. The unknown future of an economy that is almost certainly headed for a global recession figured in the Top 3 answers of what P&C insurance…
Pandemic bonds: The financial cure we need for COVID-19?
March 30, 2020 The Canadian PressThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Authors: Dror Etzion, Associate Professor, Strategy and Organizations, McGill University; Bernard…
“Working from home is working,” P&C industry reports in CU poll
March 27, 2020 by David GambrillSo far, so good, the Canadian property and casualty insurance industry appears to have adapted very quickly to the new virtual environment of working from home, according to results from a recent Canadian Underwriter survey of its readership. Just over…
This type of claim should dry up in Ontario with COVID-19
March 27, 2020 by Greg MeckbachWith the Ontario government ordering the closure of bars and nightclubs, this should eliminate – temporarily – one category of commercial liability claim. “I don’t think claims will be launched against commercial hosts at this time,” said Mouna Hanna, an…
How IBAO wants brokers to treat pandemic business interruption losses
March 27, 2020 by Greg MeckbachWith the widespread impact of pandemic-induced business income losses, the property and casualty industry is looking for a good way of dealing with a high volume of potential business interruption notices of loss. “The IBAO is asking business clients not…
Brokers respond to Trudeau’s wage subsidy for small business
March 27, 2020 by David GambrillCanadian brokers say Prime Minister Justin Trudeau’s announcement Friday of a 75% wage subsidy for small business is definitely good news for their small business clients. However, it remains an open question as to whether a brokerage would actually need…
Web conferencing platforms at risk of being lure for phishing emails: consultant
March 27, 2020 David Paddon - THE CANADIAN PRESSTORONTO – With the use of web-based video conferences proliferating during the COVID-19 crisis, cyber security experts warn they pose a threat as well as an opportunity in the age of telework. “In the past, we have seen certain teleconferencing…
Pario Adds COVID19 Presence/Absence Testing to Environmental Hygiene Services
March 27, 2020 by SCM Insurance ServicesToronto, ON, March 27, 2020/InsPress/ – At Pario we are continuing to think of new ways to help our client community and their workforces. We meet daily to assess what we can do next. As an outcome, further to the…
Pandemic coverage: The big unknown for dentists
March 26, 2020 by Greg MeckbachAre Canadian dentists covered for business interruption or commercial liability arising from the COVID-19 pandemic? That is open to question right now for some existing policies. What seems clear is that if a dentist wants to buy a new policy…
How COVID-19 impacts surety bond placement
March 26, 2020 by Greg MeckbachPlacing surety bonds has become more challenging with the social distancing precautions underway with the COVID-19 pandemic, but it is possible to do this electronically, says an association representing insurers who write surety bonds. Surety bonds can now be placed…
Brokers working from home: A personal story
March 26, 2020 by Adam MalikFor broker Stanislav Kojokin of Toronto-based KASE Insurance, getting yourself organized so that you know what your day and the rest of the week is going to look like is the key to success while working from home. Having worked…