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Does Canada need a pandemic backstop, too?

January 19, 2024 by David Gambrill

Canada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of

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Will the oil shock slow auto insurers’ post-pandemic loss ratios?

June 21, 2022 by David Gambrill

Insurers have been sounding the alarm about their auto claims ratios returning to normal post-pandemic, but expect the oil shock to temper that expectation somewhat, P&C industry execs predict. The war in Ukraine and consequent embargo on Russian oil have

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How ‘take-home COVID’ can impact employers’ liability

January 13, 2021 by Greg Meckbach

COVID-19 can cause a commercial general liability claim if a commercial client is sued by the family member of a worker who has caught the disease at work and then infected family members, insurance law experts suggest. “Take-home COVID” is

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Britain’s regulator challenges ruling in favour of insurers over pandemic BI coverage

January 4, 2021 by Greg Meckbach

The appearance of the word “event” in a “disease radius” clause in business interruption insurance contract could be instrumental in determining whether the client is covered during a pandemic. In a ruling released Sept. 15, the High Court of England

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Continuity during COVID: Executive of national broker association stands pat

October 19, 2020 by Greg Meckbach

Kent Rowe, vice president of commercial lines for Wedgwood Insurance, is staying on for another year as president of the Insurance Brokers Association of Canada. IBAC held its annual general meeting Sept. 23. IBAC announced Monday that its 2019-20 executive

News Insurance

Expectations and relevancy: What’s at risk for the P&C industry

September 30, 2020 by Adam Malik

If the property and casualty insurance industry doesn’t “come to grips” with meeting client needs, the industry is at risk of losing relevancy in the marketplace, warned an industry consultant. Phil Cook, who is also chairman of Omega Insurance Holdings,

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How Northbridge is advising clients to prepare for second COVID-19 wave

September 18, 2020 by Greg Meckbach

One key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that

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How clients may argue BI covers pandemic if no physical damage occurs

September 4, 2020 by Greg Meckbach

Some clients seeking business interruption coverage arising from the COVID-19 pandemic are looking to the courts for a “generous” interpretation of policy wording, a Canadian lawyer says. “In the context of property damage claims related to the novel coronavirus, many

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Insurers adding pandemic exclusions in commercial policies that go beyond just BI

September 2, 2020 by Greg Meckbach

Many insurers that did not start adding pandemic exclusions this past July may have to do so in January, a Winnipeg-based executive with commercial brokerage Gallagher reports. “The majority of insurers – or all insurers – are adding specific wording

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MGAs finding it harder to place this kind of commercial coverage

September 1, 2020 by Greg Meckbach

If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner

News Commercial Lines

What could happen when carriers disagree over commercial property pandemic exclusions

August 31, 2020 by Greg Meckbach

With commercial insurers adding pandemic exclusions to property and business interruption, it can be difficult to place a risk with multiple insurers unless they agree on what that exclusion should look like, a Quebec broker suggests. Some clients, especially during

News Insurance

Insurer working on future pandemic coverage for school boards, post-COVID

July 27, 2020 by Greg Meckbach

As the Ontario government prepares its school re-opening plan, the insurer for the majority of the province’s boards is working on a plan to provide pandemic coverage, albeit for future pandemics and not for COVID-19. Within the next six to