Claims
With events being cancelled left, right, and centre to avoid the spread of the novel coronavirus in Canada, there is good news and bad news for clients wanting event cancellation insurance. The good news is that insurers are probably not raising prices because of the COVID-19 pandemic. “Insurers do not see themselves having exposure to […]
By Greg Meckbach | March 18, 2020
2 min read
As most Canadians are being asked to leave home only when necessary, how will the property and casualty industry deal with a large catastrophe, such as a major wind storm, while still taking precautions to reduce the risk of COVID-19 transmission? “The challenge about layering in a catastrophe right on top of a business continuity […]
3 min read
DETROIT – Volvo is recalling more than 736,000 vehicles worldwide because the automatic emergency braking system may not detect obstacles and stop the vehicles as designed. The recall covers certain 2019 and 2020 S60, V60, S90L and V90 models. The company says in government documents that a software-hardware incompatibility glitch causes the problem. If the […]
1 min read
If your clients are accused of failing to warn shareholders of the impact of COVID-19, their directors and officers could have liability exposure, experts from Marsh suggest. Generally speaking, directors and officers tend to have the same liability exposure as they would with any other event affecting the business, said Sarah Downey, U.S. directors and […]
By Greg Meckbach | March 17, 2020
Intact Insurance employees are working from home and the company has created a dedicated team to keep an eye on developments during the COVID-19 pandemic, the company told Canadian Underwriter. “We are taking steps as needed to keep our people safe and make sure that everyone has all the information they need,” an Intact spokesperson […]
By Adam Malik | March 17, 2020
MONTREAL – Quebec’s public security minister is warning that due to the novel coronavirus outbreak, the province will not be able to open emergency shelters in the event of spring flooding. Genevieve Guilbault says the COVID-19 pandemic is changing the way civil security handles emergencies and flooding will no be exception. Guilbault says due to […]
By The Canadian Press | March 17, 2020
If your clients are sued as a result of the COVID-19 pandemic, don’t assume they will be covered by a commercial general liability policy. General liability policies have exclusions; and for COVID-19, the most relevant exclusion is probably pollution, suggested Stephen Fraser, U.S. casualty claims leader for Marsh Inc. “I think we can expect insurers […]
By Greg Meckbach | March 16, 2020
Virtual medical assessments could play a significant role in keeping the insurance industry moving along during the COVID-19 pandemic. But conducting such procedures will be changing as people are urged to stay home. “COVID-19 has brought this up to the surface in terms of how technology can be used for convenience, and for ensuring the […]
By Adam Malik | March 16, 2020
Moving to a no-fault system would help alleviate the pressures being put auto insurance costs in Alberta, and would be a unique model in the Canadian market, according to the head of the province’s brokers. “We feel this will kick some of the costs out of the system and also make the physical damage repairs […]
By Adam Malik | March 13, 2020
If a retail gas station has to remove underground tanks and contaminated soil, is the landlord or tenant responsible for the costs? Much of it depends on the terms of the lease and case law around commercial tenants’ trade fixtures, a recent Alberta Court of Queen’s Bench ruling suggests. In 1200144 Alberta Ltd v Land’s Happy Mart Ltd, Justice […]
By Greg Meckbach | March 12, 2020
4 min read
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