Canadian Underwriter


News ClaimsClaims CanadaInsurance

How much COVID business interruption claims could cost Fairfax

February 17, 2021 by Greg Meckbach

Business interruption claims arising from the COVID-19 pandemic are expected to cost Fairfax Financial Holdings Ltd. nearly Cdn$300 million. Toronto-based Fairfax released Feb. 11 its financial results for 2020, reporting US$669 million in COVID-19 losses across all of its insurers.

Webinars

Webinar: 2021 Brokerage Executive Outlook

February 16, 2021 by Canadian Underwriter

To view Canadian Underwriter’s full webinar series, please fill in the following information for immediate access: Webinar Access Name* First Last Email* Zip/Postal Code*Phone*Organization*Job Title*What is the business of the organization you work for?*Choose One…Independent Insurance BrokerageInsurance AgencyManaging General AgentInsurer

News AdjustersCatastrophesClaimsClaims CanadaInsuranceRestoration

How COVID-19 has affected repair of vehicles from hail

February 12, 2021 by Greg Meckbach

The COVID-19 pandemic has created some barriers to repairing vehicle and property damage – including a shortage of auto body parts, and a labour shortage impacted by Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work,

News Insurance

Why insurance leaders need to bring laughter into the (remote) workplace

February 10, 2021 by Jason Contant

It’s nearly one year into the COVID-19 pandemic, and Canadian property and casualty insurance leaders likely aren’t in a joking mood. But a recent blog from Harvard Business Review suggests that would be helpful these days: shared laughter can improve

News ClaimsClaims CanadaCommercial LinesInsurance

How much the second COVID wave will probably add to Intact’s claims costs

February 10, 2021 by Greg Meckbach

Intact Financial Corp. has now reserved $106 million for claims related to COVID-19, with $23 million of that booked during the last three months of 2020. Intact initially set aside $83 million in reserves for COVID-19 claims during the three

News ClaimsClaims CanadaLegalRisk

Business interruption insurer could be sued by this Canadian restaurant owner

February 9, 2021 by Greg Meckbach

An Ontario-based restaurant company whose sales dropped more than 50% during the pandemic may be taking legal action against its business interruption insurer. In a recent securities filing, SIR Royalty Income Fund said its business interruption claim from the COVID-19

News Insurance

Ontario long-term care home with outbreak of COVID-19 variant faces lawsuit

February 5, 2021 Nicole Thompson - THE CANADIAN PRESS

A central Ontario long-term care home devastated by an outbreak of a highly contagious variant of COVID-19 is facing a proposed class-action lawsuit from residents’ families who allege their loved ones were neglected by those charged with keeping them safe.

News Insurance

2020 NatCats underscore need for insurers to collaborate with public sector: Aon exec

February 4, 2021 by David Gambrill

Globally, the COVID-19 pandemic may not have affected insurers’ balance sheets in the same way that weather-related disasters did in 2020, but the industry is now much more aware of the impact of multiple catastrophe scenarios unfolding at once, an

News ClaimsClaims CanadaRisk

How much Chubb predicts COVID could cost the industry

February 4, 2021 by Greg Meckbach

COVID-19 could ultimately cost the global property and casualty insurance industry somewhere in the neighbourhood of US$75 billion in claims, Chubb Limited CEO Evan Greenberg suggested Wednesday. Zurich, Switzerland-based Chubb released its financial results for 2020 on Tuesday. During a

News Insurance

Two Toronto-area seniors homes limit visits over COVID-19 variant risk

February 4, 2021 Holly McKenzie-Sutter - THE CANADIAN PRESS

Two Toronto-area retirement homes imposed restrictions on visitors coming from an Ontario region at the centre of a more potent COVID-19 outbreak over the weekend as officials in another district said the more contagious U.K. virus variant had surfaced there

News Insurance

B.C. drivers to receive COVID-19 insurance rebate cheques averaging $190 next month

February 3, 2021 Dirk Meissner - THE CANADIAN PRESS

VICTORIA – Almost three million drivers in British Columbia will receive COVID-19 insurance rebate cheques next month that average about $190 each, Premier John Horgan said Tuesday. The Insurance Corporation of British Columbia will return $600 million in net savings

News ClaimsCommercial LinesInsurance

One big lesson from pandemic business interruption coverage disputes

February 2, 2021 by Greg Meckbach

The industry could do a better job of explaining to commercial clients exactly what business interruption insurance actually covers, A.M. Best Company Inc. suggests in a report released Monday. “Disputes over BI cover are unfavourable for the reputation of affected