Beware of this water-related risk excluded by CGL
July 9, 2018 by Greg MeckbachIf water damage is top of mind for property insurers, does this mean mold is covered by a commercial general liability policy? Not necessarily. Commercial brokers should make sure they aware of exclusions in CGL policies that would prevent their…
Looking to grow your E&O? Consider emerging classes of consultants
July 9, 2018 by David GambrillAn emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions (E&O) insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance…
The evolving nature of business interruption
July 6, 2018 Aleksandra ZivanovicIn the face of climate change, cyber risks, and mass terror plots affecting entire regions and sometimes economic sectors, business interruption coverage is a challenging coverage to both write and adjust. This challenge is multi-faceted and directly impacted by global…
Hundreds of New Brunswick flood victims still out of homes months after deluge
July 4, 2018 The Canadian PressFREDERICTON – Hundreds of people remain out of their homes in New Brunswick months after historic floodwaters swept through the province, destroying buildings and inundating highways. Bill Lawlor, director of the Canadian Red Cross in New Brunswick, said Tuesday that…
Violent storms leave thousands without power in Quebec
July 3, 2018 The Canadian PressMONTREAL – More than 15,000 homes and businesses in Quebec were still without power and air conditioning this afternoon following violent storms. As of 2 p.m., 15,234 Hydro-Quebec customers were blacked out, mainly due to fallen trees and branches on…
Why homeowners are happy with their insurers despite rate increases
June 29, 2018 by Jason ContantDespite rising premiums, homeowners’ satisfaction with their insurance providers has increased for the third consecutive year, according to the J.D. Power 2018 Canada Home Insurance Study. The survey, released on Thursday, rated overall satisfaction at 786 on 1,000-point scale. Homeowners…
Building an innovative culture? Here are two pitfalls to avoid…
June 29, 2018 by David GambrillCompanies often make two common blunders when they seek to disrupt themselves. First, some talk about hiring a bunch of “intrapreneurs” – creative geniuses who break all the rules and swim against the corporate tide – and then silo them…
Wildfire evacuees to return to Southend, Saskatchewan
June 27, 2018 THE CANADIAN PRESSSOUTHEND , Sask. – Residents who had to leave their remote community in northern Saskatchewan because of a wildfire are being allowed to return. The wildfire was growing last week and was 13 kilometres away when an evacuation was ordered…
What insurers paid out for the latest Ontario storm
June 26, 2018 by Jason ContantA brief but powerful thunderstorm that rolled through southern Ontario on June 13 has been declared a notable claims event by Catastrophe Indices and Quantification Inc. (CatIQ). While the storm did not meet the catastrophe threshold of at least $25…
Wildfire forces hundreds of people from remote community
June 25, 2018 The Canadian PressSOUTHEND, Sask. – The threat of a growing wildfire has forced more than 600 people from a remote community in northeast Saskatchewan. Emergency management officials say the fire is getting larger but is still about 13 kilometres away from Southend.…
One risk to your client if the neighbouring property is abandoned
June 18, 2018 by Greg MeckbachLindsay Bunce got a nasty shock one colder winter day when she and her husband went down to the basement of their Toronto home. “We were surprised to find about two inches of water across our basement and water coming…
New basement flood awareness training for home insurance brokers
June 14, 2018 by Greg MeckbachA course on basement flooding risk will likely be available to Canadian property and casualty insurance brokers within the next year, Blair Feltmate, head of the Intact Centre on Climate Adaptation, told Canadian Underwriter Monday. The Intact Centre also plans…