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Northbridge reveals your client’s biggest risk of commercial property water damage

March 10, 2020 by Greg Meckbach

Improper installation of pipes and connections is one of the biggest risks your clients face when it comes to water losses, Northbridge Insurance suggests. “Most water damage losses occur as a result of faulty workmanship. If contractors improperly install pipes

News Insurance

Firming market ‘might have legs,’ Fairfax executive predicts

November 4, 2019 by Greg Meckbach

Insurance premiums are up nearly 14% for carriers owned by Fairfax Financial, and much of that is due to price increases, the holdings company’s president suggests. “In my career here – 16 years – I haven’t seen anything quite like

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News Brokers

How brokers can talk clients out of declining coverages

July 10, 2019 by Adam Malik

Companies looking to save a few bucks by declining certain insurance coverage options are putting themselves at risk, and it’s up to brokers to ensure their clients understand the consequences. What do you tell a commercial client who doesn’t want

News Insurance

How the economy could spell trouble for insurance

July 8, 2019 by Adam Malik

As the economy goes, so does the insurance industry. But what happens where things aren’t necessarily taking off, but not falling by the wayside either? Business leaders are increasingly hopeful about the economy. A recent quarterly survey released by the

News InsuranceMergers and Aqcuisitions

What’s next for Fairfax in the Lloyd’s market

November 2, 2018 by Greg Meckbach

Toronto-based Fairfax Financial Holdings Ltd. plans to buy the remainder of Lloyd’s insurer Brit PLC within the next couple of years, Fairfax president Paul Rivett said Friday. Toronto-based Northbridge Insurance and Stamford, Conn.-based OdysseyRe are among the insurance subsidiaries owned

News Appointments

Fairfax Financial board includes former RSA CEO Bob Gunn

May 1, 2018 by Greg Meckbach

Former chief executives of RSA and Guy Carpenter & Company LLC were elected to new terms on the board of directors of Fairfax Financial Holdings Ltd., Toronto-based Fairfax announced Friday. Fairfax, the corporate parent of Northbridge Insurance and OdysseyRe, held

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Gross written premiums up 9.7% for Northbridge

August 8, 2017 by Canadian Underwriter

Northbridge Insurance had a 0.3-point in its second-quarter combined ratio, from 100% last year to 99.7% this year, while OdysseyRe’s combined ratio improved 3.9 points, the insurers’ parent firm, Fairfax Financial Holdings Ltd., reported recently. Toronto-based Northbridge Insurance had an

News Insurance

Fairfax agrees to reduce holdings in insurance joint venture with ICICI Bank

June 1, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd. has agreed to reduce its holdings in Mumbai, India-based insurer ICICI Lombard General Insurance Company Ltd., a joint venture between ICICI Bank and Toronto-based Fairfax. In its annual report for 2016, released in April, Fairfax reported

Feature Claims CanadaInsurance

Dirty Windows Help to Clarify Appellate Review of Standard Form Contracts

February 10, 2017 Michael S. Teitelbaum, partner; and Tara Chown, student-at-law, Hughes Amys LLP

The Supreme Court of Canada decision in Ledcor Construction Ltd. v. Northbridge Indemnity Insurance Co. has created an exception to the principle outlined in Sattva Capital Corp. v. Creston Moly Corp. and may lead to an increase in insurance litigation.

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Allied World acquisition would allow ‘further diversification’ of Fairfax’s insurance business: A.M. Best

December 21, 2016 by Canadian Underwriter

The corporate parent of Toronto-based Northbridge Insurance “should benefit from further diversification of its business” if it acquires commercial insurer and reinsurer Allied World Assurance Company Holdings AG, A.M. Best Company Inc. has suggested. Fairfax Financial Holdings Ltd. – which

News InsuranceMergers and AqcuisitionsTechnology

Pokémon Go risks include distracted driving, exposure of confidential data: Northbridge

August 24, 2016 by Canadian Underwriter

Northbridge Insurance recently warned of several risks arising from the Pokémon Go computer game, including exposure of confidential information, liability exposure and distracted driving. “Augmented reality games usually require your GPS location and a data connection (either WiFi or cellular

News Insurance

Northbridge warns of ‘dangerous mental distractions’ to drivers

July 8, 2016 by Canadian Underwriter

The use of hands-free technologies while driving does not eliminate distracted driving risk, Northbridge Insurance suggested Thursday in a blog post. “Many drivers aren’t fully engaged on the road putting their lives and the lives of others at risk,” Toronto-based