Commercial
Canada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call that it will take a second look, within weeks, of its previously-announced pandemic relief measures […]
By Greg Meckbach | May 7, 2020
3 min read
Concerns from surety bond providers have prompted the Ontario government to make one change, effective this Thursday, to the state of emergency during the pandemic. As it stands, an emergency order suspending limitations means liens against construction projects technically never expire, said Greg Hersen, partner and chair of construction law at Torkin Manes, in an […]
By Greg Meckbach | April 14, 2020
Ontario brokers can expect to receive calls from their clients in the province’s construction industry, some of whom were recently de-listed from the province’s essential services list. Under pressure to reduce the spread of COVID-19 in Ontario, the province recently trimmed its essential services list. All industrial construction has been stopped, the government announced on […]
By Adam Malik | April 6, 2020
Placing surety bonds has become more challenging with the social distancing precautions underway with the COVID-19 pandemic, but it is possible to do this electronically, says an association representing insurers who write surety bonds. Surety bonds can now be placed without people physically meeting or mailing paper documents, and they are enforceable by law, Steven […]
By Greg Meckbach | March 26, 2020
Insurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a partner with Deloitte Canada who advises clients on mining-related tax matters, said in a recent […]
By Greg Meckbach | December 5, 2019
There’s a huge opportunity for Canadian brokers during this hard market and it’s hidden in plain sight — cyber insurance.
By David Gambrill | November 28, 2019
Intact Financial Corp. announced Thursday that Darren Godfrey will become Intact Financial Corp.’s senior vice president, commercial lines on Jan. 1. Godfrey, currently senior VP of personal lines, will replace Alain Lessard, who retires at the end of the year. Isabelle Girard, the company’s vice president, actuarial, personal lines, will be promoted to senior vice […]
By Greg Meckbach | September 19, 2019
1 min read
Business clients in the cannabis industry are having a hard time finding some insurance coverages, A.M. Best Company Inc. warned in a report released Thursday. “Coverage available to canna-business owners remains in short supply,” A.M. Best said in its annual Canadian Market segment report. “Cannabis continues to be an area of opportunity for carriers, though […]
By Greg Meckbach | September 12, 2019
Editor’s Note: In an earlier version of this story, Canadian Underwriter incorrectly reported Economical Insurance’s net loss in 2017. Canadian Underwriter regrets the error. Commercial premiums for Economical Insurance are down more than 10%, but that does not mean prices are dropping. “We have limited our exposure to highly volatile lines of business – those […]
By Greg Meckbach | August 19, 2019
2 min read
Why boiler and machinery insurance goes far beyond what its name suggests
August 5, 2019
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