When keeping customer’s car keys is not “custody” of a car
October 21, 2018 by Greg MeckbachNorthbridge has to pay out on a hotel’s liability insurance policy resulting from theft of a guest’s car, the Supreme Court of Canada ruled in a decision released Friday. Lombard, now known as Northbridge, provided both property and liability insurance…
Supreme Court to decide limits of pollution liability indemnification
October 18, 2018 by Greg MeckbachDoes a pollution liability indemnification agreement made in 1985 by a provincial government apply when the same government tries to force companies to pay environmental remediation costs 26 years later? Ontario judges disagree, so the question is now before the…
How this commercial brokerage addresses skills shortages
October 14, 2018 by Greg MeckbachBrokerage owners in some regions are struggling to find staff who know commercial lines. “There are very few people (in Saskatchewan) who understand commercial insurance deeply,” said David Reidy, president and CEO of Regina-based commercial brokerage Henderson Insurance Inc. To…
Saskatchewan commercial brokerage joins Navacord
October 9, 2018 by Greg MeckbachCommercial brokerage Henderson Insurance Inc. will become Navacord Corp.’s newest member effective Nov. 1, the companies announced Tuesday. With offices in Regina and Moose Jaw, Henderson is Navacord’s first broker partner in Saskatchewan. The terms of the partnership were not…
Artificial intelligence a ‘work in progress’ in marine insurance
August 27, 2018 by Greg MeckbachSome insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for…
Hot opportunity in this Canadian insurance line is linked to M&A
August 24, 2018 by Greg MeckbachRepresentations and warranties (R&W) insurance is becoming a hot market, as commercial clients wonder whether mergers and acquisitions could expose them to unforeseen liabilities. In Canada, the R&W market “has really expanded,” according to Brian Kelly, a Montreal-based managing partner…
How legal defence costs can be ‘gobsmacking large,’ even when you win the case
August 22, 2018 by Greg MeckbachA recent decision by an Ontario judge shows how much a corporate client might have pay to defend itself from a lawsuit – even one that gets thrown out of court. Three beer manufacturers, Molson, Labatt and Sleeman, spent a…
Auto fraud getting worse, insurer says
August 21, 2018 by Greg MeckbachManitoba Public Insurance Corporation (MPI) is reporting an increase in auto insurance fraud, including false claims for income replacement benefits. “Disturbingly, the corporation’s special investigation unit is seeing an increase in fraudulent activity,” the province’s public auto insurer reported Friday.…
New risks arising from Canadian arctic shipping
July 17, 2018 by Greg MeckbachAs shrinking arctic ice opens up of new shipping routes through Canada’s Arctic Archipelago, this presents challenges for risk managers and insurers, Allianz Global Corporate and Specialty suggests in a report scheduled for release Wednesday. “Arctic ice has been thinning and…
How to best insure clients against kidnappers
July 16, 2018 by Jason ContantWhile kidnap and ransom (K&R) insurance is one type of insurance nobody wants to have to use, there are a few things that should be kept top of mind for brokers placing the coverage. The most important consideration revolves around…
How this top-tier Canadian brokerage plans to double its revenue in 5 years
July 11, 2018 by David GambrillNavacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private…
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…