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TORONTO – More than 200,000 Canadian businesses could close permanently during the COVID-19 crisis, throwing millions of people out of work as the resurgence of the virus worsens across much of the country, according to new research. The Canadian Federation of Independent Business said Thursday one in six or about 181,000 Canadian small business owners […]
By Jason Contant | January 22, 2021
2 min read
Guaranteed Asset Protection is one way for automotive dealers to make money from consumers who make large down payments on their new vehicles, an automotive columnist suggests. GAP insurance is intended to protect consumers who borrow money to buy their vehicles. Specifically, GAP helps protect motorists from quick depreciation of newly-purchased vehicles and the method […]
By Greg Meckbach | January 21, 2021
3 min read
Many property and casualty insurance professionals are not missing driving into the office every day after shifting to working from home for the last 10 months. However, a pair of researchers are saying the daily commute does provide valuable benefits to employees. When asked about satisfaction about working from home and feelings about returning to […]
By Adam Malik | January 21, 2021
4 min read
VANCOUVER – Residents of a tiny community in northeastern British Columbia are suing the local and provincial governments over two slow-moving landslides they claim caused their property values to plummet. In a notice of civil claim filed in B.C. Supreme Court this week, 35 residents in Old Fort, B.C., allege negligence and breach of their […]
By Jason Contant | January 21, 2021
Brokerage NFP has expanded its property and casualty brokerage presence in Ontario with the acquisition of EdgeHill Insurance Brokers Ltd. The deal is the latest mergers and acquisitions news in the Canadian P&C space. Also in the news, Canadian Broker Network acquired Quebec-based brokerage Invessa. NFP announced their acquisition of Edgehill last week in a […]
By Jason Contant | January 20, 2021
Six subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s Bench of Alberta has ruled that the insurers had simply made a mistake in referencing […]
By David Gambrill | January 20, 2021
One prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that clients may try to hold their brokers responsible for not providing them with pandemic coverage, […]
By Adam Malik | January 20, 2021
OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in high-contact service industries will carry the burden of a new round of lockdowns, which the […]
Business interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found those three risks to be at the top of the list for its customers around […]
By Adam Malik | January 19, 2021
Intact Financial Corp.’s proposed takeover of RSA Canada has crossed two additional hurdles. The deal was approved Monday by a majority of shareholders of London-based RSA, Intact said in a release. Canada’s federal competition bureau has also approved the deal, Intact said Monday. Intact and Denmark-based Tryg A/S intend to form a consortium to jointly […]
By Greg Meckbach | January 18, 2021
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