Claims
One way homeowners and insurers can reduce annual hail damage is to use impact-resistant asphalt shingle roofs instead of standard shingles, finds a new report. A new Institute for Catastrophic Loss Reduction benefit-cost analysis report shows annual hail damage in Canada has amounted to $400 million each year, on average, since 2013. To […]
By Alyssa DiSabatino | March 28, 2022
2 min read
WINNIPEG – Fears of spring flooding are easing in Manitoba, thanks to recent weather. A winter of heavy snowfall had initially raised worries across much of the province. But two weeks of slow melting – above-zero temperatures during the day and below-freezing at night – has reduced the snowpack and lessened the risk of a […]
By The Canadian Press | March 28, 2022
Canada’s insurers are in a bit of a holding pattern about how war in Ukraine may drive claims activity among businesses with ties to the region. Canadian Underwriter contacted numerous insurers and the consensus on any changes to claims and coverage is that ‘time will tell.’ In many ways, the P&C industry’s response to the […]
By Phil Porado | March 25, 2022
Shippers need to worry about the digital supply chain as well as the physical one when transporting goods.
By Phil Porado | March 24, 2022
Clients needing war, political violence or terrorism insurance may need to seek bespoke covers, noted a recent Ukraine technical update from claims manager Crawford. “The purpose of a political violence policy is to dovetail with the commercial property policy and to indemnify those risks, within the political violence class, that fall within the standard exclusions […]
By Phil Porado | March 23, 2022
Clients have a tough choice to make when they’re hit with a ransomware attack — to pay or not to pay? “If you decided not to pay the ransom for whatever reason, and that hacker ultimately discloses that information, what does it open it up? What opens up for contractual liability or just reputational […]
By Alyssa DiSabatino | March 18, 2022
4 min read
COVID-19 has changed workers’ expectations, although it’s not clear yet whether company executives see this new emphasis on personal well-being and remote flexibility as “a temporary pendulum swing, or the beginning of our new normal,” writes Jared Spataro, corporate vice president of modern work at Microsoft. In his article for Harvard Business Review, 5 Key […]
By David Gambrill | March 18, 2022
3 min read
A home insurer lost its bid to set off a contents claim using the difference between the Guaranteed Replacement Cost (GRC) and the depreciated value of a home that was rebuilt after a fire. The Ontario Superior Court allowed this part of an appeal against TD Meloche Monnex because the insurer had not included in […]
By David Gambrill | March 17, 2022
Since 2016, the federal government’s slated nearly $100 billion to support development of transit extensions, shipping port improvements, affordable housing and more. When private-sector construction slowed in March 2020, federal infrastructure building quickly filled the gap. And, throughout 2021, both private and public construction picked up. The sector is now humming along. This has created […]
By Phil Porado | March 17, 2022
Cyber insurers are recommending “powerful” preventative measures such as endpoint detection responses (EDR) to prevent ransomware attacks.
By David Gambrill | March 16, 2022
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