Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler…
Brokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…
In response to the ongoing pandemic, the Lloyd’s market is changing the way claims are handled when multiple syndicates write one risk. “One challenge with COVID-19 is the subscription nature of the market, whereby it is often several syndicates writing…
Marc Lipman, former chief operating officer of American International Group (AIG) Canada, is the new president of Lloyd’s Canada. Lipman (pictured, above) replaces Lisa Duval, who had served as Lloyd’s Canada’s attorney in fact and chief agent, on an interim…
The Lloyd’s market will pay “in the range” of $3 billion to $4.3 billion “as a result of the far-reaching impacts of COVID-19,” the Corporation of Lloyd’s announced Thursday. Comparing the overall COVID-related losses to the 2001 terror attack in…
A $5.6-million court award in favour of Lloyds Underwriters and one of its Quebec-based shipowner clients has been restored by the Supreme Court of Canada. Desgagnés Transport Inc. v. Wärtsilä Canada Inc., released Nov. 28, means a section of the…
Lisa Duval is the new attorney in fact and chief agent for Lloyd’s Canada, the nation’s fourth-largest property and casualty insurer when measured by premiums. Sean Murphy was chief agent in Canada from September, 2012 until last month. “Taking a…
Is your client’s loss of income covered if the business got interrupted because of a catastrophe that hit a supplier? That depends on what the policy says and whether the client actually bought contingent business interruption (CBI) insurance. And these…
Insurance rates on renewal are up nearly 4% in the Lloyd’s market, which has returned to profitability. “While market conditions generally remain at historically competitive levels, price increases have been witnessed across all major lines, most notably in property and…
Your commercial clients may be able to get cyber insurance with fewer underwriting questions than in the past, but you should still pay close attention to those clients’ risk management practices, the head of a Toronto managing general agent suggests.…
Commercial coverage for advertising liability could be a little broader than some underwriters may think. In a decision rendered on a coverage dispute, British Columbia’s appeal court ruled on June 28 that Lloyd’s Underwriters has a duty to defend Blue…
CORRECTION NOTICE: In an earlier version of this story, Glen L.C. Noel was incorrectly identified as a lawyer representing Lloyd’s in Lawlor v. Royal. In fact, Noel represented Mary Lawlor in that case. Canadian Underwriter regrets the error. Glen L.C.…