Claims

Liability claims that could arise from the pandemic

One result of the ongoing COVID-19 pandemic will be liability claims against company boards, property and casualty industry watchers predict. “I think we will see litigation coming out of this,” Shara Roy, a partner with law firm Lenczner Slaght Royce Smith Griffin LLP, which defends publicly traded companies in class action lawsuits. Publicly-traded firms have […]

By Greg Meckbach | April 22, 2020

2 min read

Staging an Intervention

As difficult as this may be for brokers to hear, market swings in the competitive environment of the P&C insurance industry are inevitable. During soft markets, when capacity is plentiful, companies will use that capacity to lower premium rates to gain market share. They make up for any underwriting losses through investment returns. Everyone in […]

April 21, 2020

2 min read

The “dark side” of working from home: How to avoid an isolated workforce

Before COVID-19, there was a lively debate within the Canadian P&C industry about the virtues and pitfalls of working from home, featuring the industry’s skeptics (a.k.a.  the “Boomers”) and proponents (the “Millennials”). Well, guess what? The pandemic has made us all Millennials now. And who knows for how long we’ll continue to be working remotely […]

By David Gambrill | April 21, 2020

3 min read

Will more Canadian insurers introduce COVID-inspired D&O exclusions?

The Canadian insurance industry will struggle with adding exclusions related to COVID-19 in directors and officers (D&O) policies, “particularly in light of the fear that adding them now will suggest past policies did not exclude these issues,” a Toronto lawyer said last week. “We do expect, however, that more insurers will be compelled to introduce […]

By Jason Contant | April 21, 2020

2 min read