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There has been a significant amount of discussion, both within and outside of P&C industry, about whether a commercial insurance policy offers pandemic coverage for business interruption losses. Generally speaking, commercial liability policies exclude business interruption coverage for pandemic. However, the industry has recommended that commercial insureds talk to their brokers or commercial insurance providers […]
By David Gambrill | May 22, 2020
1 min read
A Laval area restaurant that says it has lost more than $700,000 in two months as a result of the pandemic is not taking no for an answer from the insurer, who says business interruption coverage does not apply because it’s not a direct physical loss and is citing several exclusions. Allianz Global Risks US […]
By Greg Meckbach | May 22, 2020
3 min read
Consumers are actually open to —and even demanding — two-factor authentication safeguards such as biometrics for their online accounts, a new study has found. Nearly three-quarters (72%) of Canadians would allow their bank to analyze behavioural biometrics, like typing speed, to secure their online financial information, according to a recent study by FICO, a company […]
By Adam Malik | May 22, 2020
HALIFAX – Canadian meteorologists are predicting another active hurricane season, saying conditions are right for a long list of tropical storms. The Canadian Hurricane Centre in Halifax issued its seasonal forecast today, following up on a similar prediction offered Thursday by the National Weather Service in the United States. The U.S.-based National Oceanic and Atmospheric […]
Smaller brokerages need improved tools to sell cyber insurance to small and mid-sized enterprises (SMEs), a cyber insurer told Canadian Underwriter recently. The industry is currently working to provide those tools, which may include a scaled version of the third-party cyber services offered to large organizations. Such services may include IT support and forensics, credit […]
By David Gambrill | May 21, 2020
With a recent Supreme Court of Canada decision involving third-party litigation funding coming on top of the economic disruption caused by the COVID-19 pandemic, Canadian courts are likely to see a spike some types of lawsuits, suggests the head of an international litigation financing provider. “We have seen a significant amount of interest from Canadian […]
By Greg Meckbach | May 21, 2020
4 min read
Electronic signatures, also known as “eSignatures,” are basically the digital equivalent of handwritten signatures. Quite a few eSignature options are available to brokers and their clients. Some wonder if a universal standard may apply. We raised the issue recently with Steve Whitelaw, vice president of broker and industry partnerships at Applied, shortly after airing the […]
2 min read
NEW HAZELTON, B.C. – The COVID-19 pandemic has increased the danger of British Columbia’s wildfire season and the province’s forests minister says public help is crucial to reduce fires. Doug Donaldson says wildfires caused by humans are preventable and divert valuable resources away from naturally occurring fires while exposing firefighters to unnecessary risks. The BC […]
We’re operating in a much more digital world than just a few months ago. As companies of all sizes scramble to make their operations work outside their physical buildings, the threat of cyberattacks increases. Small business clients intuitively understand the need for property and liability insurance. But when it comes to cyber liability insurance, it’s […]
By Adam Malik | May 20, 2020
Six years after the federal government promised to explore options for a national approach to home flood insurance, the feds are still thinking about it. About 13,000 were recently evacuated from Fort McMurray, Alta., because of flooding on the Athabasca and Clearwater rivers, the Canadian Press reports, adding many of those homeowners are either uninsured […]
By Greg Meckbach | May 20, 2020
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