Industry
If your clients are buying or selling a home, they can still get it inspected despite the pandemic, but one professional notes the volume of business is down. “For close to a month, we have been working in what I would call isolating circumstances,” said Reg Deck, a home inspector who owns two AmeriSpec franchises […]
By Greg Meckbach | April 16, 2020
2 min read
New crowdsourcing tools have been made available to show your own personal risk of exposure to COVID-19, the disease caused by the novel coronavirus, in your neighbourhood. For example, If you want to know if your home, brokerage or insurance company office is located in a high-risk virus area, Flatten and COVID Near You are […]
By Adam Malik | April 16, 2020
3 min read
TORONTO – Small businesses are hoping for promised rent relief from both landlords and government as the COVID-19-related shutdown drags on and their bills pile up. The urgency comes as some landlords have already started issuing eviction notices for businesses that didn’t pay April rent, while those who were able to pay are stressed about […]
By Jason Contant | April 16, 2020
5 min read
David MacNaughton (pictured), president of Palantir Canada and former ambassador to the United States, is now a board member of Property and Casualty Insurance Compensation Corporation (PACICC). Also joining the PACICC board are Christian Fournier, president and chief operating officer of La Capitale Financial Group, and Brian Esau, president and CEO of Red River Mutual. […]
By Greg Meckbach | April 15, 2020
OTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The pandemic has forced companies to close and workers to stay at home as much as […]
By Jason Contant | April 15, 2020
Despite the massive disruptions from the COVID-19 pandemic, Intact Financial Corp. is keeping its eye on potential mergers. “We want to make sure we have capital ready to be deployed for growth – both organic and through mergers and acquisitions,” Intact CEO Charles Brindamour said during a recent virtual fireside chat with Mario Mendonca, managing […]
By Greg Meckbach | April 13, 2020
OTTAWA – The federal government says nearly 5.4 million Canadians are now receiving emergency aid to replace incomes lost due to COVID-19. The figures this morning show 5.38 million applications have been processed since March 15, a figure that includes people who were previously on employment insurance before being moved over to the Canada Emergency […]
By Jason Contant | April 13, 2020
Canadian brokers want a uniform response from insurers on how to deal with commercial policies that have a 30-day vacancy or unoccupied clause. Most commercial property policies have such an exclusion, meaning that losses or damage to property is excluded if the property is either vacant or (in some instances) unoccupied for more than 30 […]
By Jason Contant | April 9, 2020
4 min read
Insurance companies put in a position to cover business interruption losses regardless of how their commercial contracts were originally constructed could threaten their solvency on a global scale, warns a new report. In addition to negatively affecting the carriers’ liquidity profile, “this would generate downward pressure on the financial strength ratings of P&C insurance companies,” […]
By Adam Malik | April 8, 2020
Given that insurers rely on investments to supplement their underwriting income, how big of a concern is the recent nosedive in stock markets? “Right now, from the standpoint of reduction in equity values, the Canadian P&C segment as a whole can withstand that,” Greg Williams, senior director at A.M. Best Ratings Services, said in a […]
By Greg Meckbach | April 7, 2020
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