Insurance & Risk, Analysis, Events and Careers
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Clients can buy insurance that would cover the financial risk of a kidnapping or hijacking, but brokers should be aware of several things. “In the event of a kidnapping, the onus is on the client to finance the ransom payment and then submit their insurance claim,” said Liam Morrissey, CEO of MS Risk Limited, in […]
By Greg Meckbach | January 28, 2021
3 min read
Auto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance for New York City-based Travelers, mentioned during an earnings call Jan. 21. IntelliDrive is a […]
2 min read
An Ontario court has ordered Sovereign General to pay $187,313 to cover the legal costs of former Ontario Progressive Conservative Party leader Patrick Brown, who personally incurred the expenses while defending a defamation lawsuit arising from the publication of his 2018 book, Takedown: The Attempted Political Assassination of Patrick Brown. Brown, now the mayor of […]
By David Gambrill | January 28, 2021
4 min read
If a commercial client has any inklings of a toxic workplace, an independent investigation is one way of managing reputational and liability risk, an expert says. The resignations last week of Governor General Julie Payette and her secretary may have brought the related topics of workplace harassment and employment practices liability higher on some risk […]
By Greg Meckbach | January 26, 2021
Brokers could see a “K-shaped” recovery from the hard market in commercial lines because some sectors have been hit harder by the COVID-19 pandemic than others, panelists observed in a webinar hosted Jan. 25 by Canadian Underwriter. Some commercial lines are harder than others, P&C industry executives observed during the Monday webinar, Canada’s P&C Industry […]
Don’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said last week of its financial results for the three months ending Dec. 30. Travelers also […]
By Greg Meckbach | January 25, 2021
A proposed class-action lawsuit based on the novel tort of “premature commercialization” is going ahead in Ontario. The Supreme Court of Canada announced Dec. 10 it will not hear an appeal from Syngenta Canada Inc., which is facing a proposed class action by Canadian corn growers who suffered from an import ban from China. Allegations […]
By Greg Meckbach | January 22, 2021
5 min read
A landmark British court ruling against insurers over business interruption coverage could be good news for restaurants or retailers who had to severely limit their operations during the COVID-19 pandemic. The Supreme Court of the United Kingdom ruled largely in favour of Britain’s Financial Conduct Authority in its 114-page ruling released Jan. 15. Although it’s […]
A British Columbia driver who was found 50% at fault for a collision by the province’s monopoly auto insurer has partly won a small claim against the other driver. Hartmut Wolfram and Yunsun Kim collided with one another in Burnaby on Aug. 31, 2019. They were both driving eastbound on a road with three eastbound […]
By Greg Meckbach | January 21, 2021
When a dog bites man, the wounds could be deep and wide for homeowners. “Pet bites top the list for home insurance liability claims,” reports Dorchester Insurance Brokers Ltd., based near London in the community of Dorchester, Ont. “Dog bites can range from a simple nip to deep wounds that require surgery or even cases […]
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