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Claims
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 were hard hit during the first lockdown worry that they won’t survive a second lockdown,” […]
By Greg Meckbach | September 18, 2020
2 min read
HALIFAX – The Canadian Hurricane Centre’s top meterologist is suggesting the combination of Hurricane Teddy and a continuing pandemic should prompt Maritimers to plan well ahead for potential power outages. The storm was churning northward in the Caribbean Friday, with maximum wind speeds over 200 kilometres per hour. Potential tracks cited by the centre show […]
By Jason Contant | September 18, 2020
3 min read
Factory Mutual is appealing an Ontario court ruling that included a finding that “resulting physical damage” can mean loss of use. David Liblong, a partner with Liblong Digambar Professional Corporation, told Canadian Underwriter Wednesday that the insurer is appealing MDS Inc. v. Factory Mutual Insurance Company, released Mar. 30 by the Ontario Superior Court of […]
By Greg Meckbach | September 17, 2020
The verdict in the British Financial Conduct Authority’s business interruption test case could have an impact outside of Britain, one credit rating agency warns, but Canada’s largest carrier appears to be largely unaffected. The vast majority of Intact Financial Corp.’s business interruption policies are significantly different from the wordings at issues in The Financial Conduct […]
There is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers are keeping a watchful eye on their clients’ liability exposures. The risks related to re-opening […]
By David Gambrill | September 15, 2020
If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the other is not, the High Court of England and Wales has found in a much-anticipated […]
By Greg Meckbach | September 15, 2020
4 min read
British Columbia’s courts need to take a close look at the question of whether the province has a tort for breach of privacy, an appeal court judge suggested in a recent decision arising from a data breach at a Vancouver-based financial institution. “Today, personal data has assumed a critical role in people’s lives, and a […]
By Greg Meckbach | September 14, 2020
Water is the primary reason for rising commercial property claims costs and experts are putting the blame squarely on one major issue: Deteriorating infrastructure. Some industry experts say a sharp increase in water damage caused by aging and inadequate pipes is actually costing the industry much more per year than natural catastrophes. “About $4-$6 billion […]
By Adam Malik | September 14, 2020
Lawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under D&O policies for privately-held insureds, said Dan Lewis, Gallagher’s management liability practice leader for Canada, in […]
By Greg Meckbach | September 11, 2020
The Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in 2018 to 80.3% last year, A.M. Best said in its annual report on the state […]
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