The good and bad news about event cancellation insurance
March 18, 2020 by Greg MeckbachWith events being cancelled left, right, and centre to avoid the spread of the novel coronavirus in Canada, there is good news and bad news for clients wanting event cancellation insurance. The good news is that insurers are probably not…
The impact of COVID-19 on independent adjusters
March 18, 2020 by Greg MeckbachAs most Canadians are being asked to leave home only when necessary, how will the property and casualty industry deal with a large catastrophe, such as a major wind storm, while still taking precautions to reduce the risk of COVID-19…
How brokers are responding to Canada’s economic support announcement
March 18, 2020 by Adam MalikThe Insurance Brokers Association of Canada (IBAC) is welcoming the federal government’s announcement of a slew of measures to assist Canadian employees, consumers, and businesses throughout the COVID-19 pandemic. Prime Minister Justin Trudeau announced that the financial aid, worth about…
Why Canada’s P&C industry is ready to absorb hit of pandemic-induced recession
March 18, 2020 by David GambrillAlready under financial strain due to tightening markets in several lines of business, Canada’s property and casualty insurance industry nevertheless seems well-positioned to withstand a global recession triggered by the novel coronavirus pandemic — at least in the short term.…
How D&O claims could arise from COVID-19
March 17, 2020 by Greg MeckbachIf your clients are accused of failing to warn shareholders of the impact of COVID-19, their directors and officers could have liability exposure, experts from Marsh suggest. Generally speaking, directors and officers tend to have the same liability exposure as…
COVID-19: A brokerage’s guide to working from home
March 17, 2020 by Adam MalikBrokerages that don’t have a pandemic or business continuity plan in place that allows employees to work from home could follow the lead of one Ontario brokerage that is trying to recreating the office workspace experience in their employees’ homes.…
What Intact is doing during COVID-19
March 17, 2020 by Adam MalikIntact Insurance employees are working from home and the company has created a dedicated team to keep an eye on developments during the COVID-19 pandemic, the company told Canadian Underwriter. “We are taking steps as needed to keep our people…
Quebec warns no emergency shelters for spring flooding amid COVID 19 outbreak
March 17, 2020 THE CANADIAN PRESSMONTREAL – Quebec’s public security minister is warning that due to the novel coronavirus outbreak, the province will not be able to open emergency shelters in the event of spring flooding. Genevieve Guilbault says the COVID-19 pandemic is changing the…
How liability insurance responds (or not) to COVID-19
March 16, 2020 by Greg MeckbachIf your clients are sued as a result of the COVID-19 pandemic, don’t assume they will be covered by a commercial general liability policy. General liability policies have exclusions; and for COVID-19, the most relevant exclusion is probably pollution, suggested…
Brokerage stops walk-ins, tells staff to work from home
March 16, 2020 by Adam MalikNo clients will be walking through the doors of at least one Alberta brokerage, thanks to fears around spreading coronavirus in the office. Leibel Insurance Group has closed its doors to client visits and told all employees to work from…
How COVID-19 is changing virtual medical assessments
March 16, 2020 by Adam MalikVirtual medical assessments could play a significant role in keeping the insurance industry moving along during the COVID-19 pandemic. But conducting such procedures will be changing as people are urged to stay home. “COVID-19 has brought this up to the…
Why these industry events were postponed amid COVID-19 fears
March 12, 2020 by Adam MalikUnder mounting uncertainty and safety concerns, MSA Research made the call to push back two of its upcoming conferences to the fall. InsurTech North was set to run April 6-7 in Toronto, while the Canadian Insurance Financial Forum (CIFF) was…