Commercial
There’s good and bad news when it comes to commercial lines in the Canadian property and casualty insurance industry. The good news is there’s encouraging signs the commercial market is stabilizing, said Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC). But the bad news is that there’s still a long way to […]
By Jason Contant | October 1, 2021
4 min read
VICTORIA – A new report says changes to British Columbia’s requirements for tailings storage after the Mount Polley disaster have generally improved the management of mining waste. The mines chief auditor found many of the revisions made in 2016 to how tailings are managed align the province’s regulatory framework with the industry’s best practices, “with […]
By The Canadian Press | June 18, 2021
2 min read
Canadian commercial line renewal rates increased at a slower pace across all major lines in Q1 2021 compared to one year ago, according to the latest commercial premium rate index from tech vendor Applied Systems. Overall, the magnitude of rate increases is down across all lines relative to average premium renewals in the same quarter […]
By Jason Contant | April 30, 2021
3 min read
When Sohel Imani went looking for a second location for his bike shop in Toronto’s West End, he knew he’d be able to leverage the city’s current commercial rental market. With dozens of storefronts sitting empty in any given Toronto neighbourhood, Imani says he knew he could throw out lowball offers for rentals spaces because […]
By Adam Malik | April 16, 2021
Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report predicts. “There is general optimism that the rollout of the COVID-19 vaccine will have a […]
By David Gambrill | February 18, 2021
Canadian Underwriter talked to several commercial lines brokers about the impact of COVID-19 on specialty lines. Hear their tales of withering capacity, new challenges finding D&O insurance, and when to expect growth again
By David Gambrill, Editor in Chief | August 2, 2020
7 min read
Since the insurance industry in P.E.I. tends to mirror the insurance markets in New Brunswick and Nova Scotia, it’s no surprise that Canada’s smallest province is also experiencing a hard commercial market. “One of the biggest things is capacity,” says David Cooke, president of the Insurance Brokers Association of Prince Edward Island. “Insurance companies aren’t […]
By Canadian Underwriter Staff | July 12, 2020
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
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
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