Claims

Why this client can only recover $50,000 on a $2.7-million commercial crime claim

An electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance Company of Canada, released Sept. 29, Quebec Superior Court Justice Suzanne Courchesne ruled that the […]

By Greg Meckbach | October 16, 2020

5 min read

Overloaded

Trucking was already going through challenging times. The pandemic isn’t helping. How brokers can help clients navigate their way through the insurance marketplace

October 16, 2020

7 min read

Storm System

Several pressures on rate suggest reinsurance premiums will rise during the January 2021 renewal season. By how much? Reinsurance execs look into the crystal ball

October 16, 2020

6 min read

What Canada’s Supreme Court says about employers’ liability for bonuses

A constructive dismissal award against a Halifax-based fish oil maker of nearly $1.1-million has been restored by the Supreme Court of Canada. When it comes to employment practices liability, a key lesson from Matthews v. Ocean Nutrition Canada Ltd., released Oct. 9, is that if a client agrees to share proceeds of a company sale […]

By Greg Meckbach | October 15, 2020

4 min read

Cat bonds starting to attract this type of investor

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater, senior director of sustainable finance at the Toronto-based Global Risk Institute. With ESG, investors take […]

By Greg Meckbach | October 15, 2020

2 min read

IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now. Insurers see themselves as partners with academia, government, and the rest of the financial sector,” […]

By Greg Meckbach | October 14, 2020

2 min read

The tough question for insurers withdrawing coverage from coal

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other hand, we all know there is a certain down side to it,” said Mark Way, […]

By Greg Meckbach | October 14, 2020

3 min read

Why the court found the landlord responsible for this winter roof collapse

A courier firm has successfully sued its landlord for $188,000 after the roof of its Halifax area warehouse collapsed under the weight of snow and ice. In Transport Canpar L.P. v. 3258042 Nova Scotia Limited, released Oct. 8, Justice Richard Coughlan of the Nova Scotia Supreme Court ruled that the premises owned by the numbered […]

By Greg Meckbach | October 13, 2020

4 min read

A business refuses to enforce public health regulations. Is it liable?

Commercial clients who fail to follow local health regulations could be considered a “moral hazard” to insurers, but liability claims under such circumstances during the COVID pandemic will not necessarily be denied, a Toronto commercial broker suggests. Commercial general liability policies tend to have exclusions for intentional acts. And so, suppose a business intentionally does […]

By Greg Meckbach | October 13, 2020

3 min read

How COVID-19 can trigger a ‘force majeure’ or ‘act of God’ clause in a contract

The COVID-19 pandemic could be considered an “act of God,” but that doesn’t necessarily mean a client can recoup a deposit for cancelling a large gathering, a recent British Columbia Civil Resolution Tribunal ruling suggests. While most property and casualty insurance contracts for event cancellation coverage would exclude coverage for pandemic losses, the CRT ruling […]

By Greg Meckbach | October 7, 2020

3 min read

← Previous 1 … 169 170 171 172 173 … 1,152 Next →