Commercial
Placing surety bonds has become more challenging with the social distancing precautions underway with the COVID-19 pandemic, but it is possible to do this electronically, says an association representing insurers who write surety bonds. Surety bonds can now be placed without people physically meeting or mailing paper documents, and they are enforceable by law, Steven […]
By Greg Meckbach | March 26, 2020
3 min read
Insurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a partner with Deloitte Canada who advises clients on mining-related tax matters, said in a recent […]
By Greg Meckbach | December 5, 2019
There’s a huge opportunity for Canadian brokers during this hard market and it’s hidden in plain sight — cyber insurance.
By David Gambrill | November 28, 2019
Intact Financial Corp. announced Thursday that Darren Godfrey will become Intact Financial Corp.’s senior vice president, commercial lines on Jan. 1. Godfrey, currently senior VP of personal lines, will replace Alain Lessard, who retires at the end of the year. Isabelle Girard, the company’s vice president, actuarial, personal lines, will be promoted to senior vice […]
By Greg Meckbach | September 19, 2019
1 min read
Business clients in the cannabis industry are having a hard time finding some insurance coverages, A.M. Best Company Inc. warned in a report released Thursday. “Coverage available to canna-business owners remains in short supply,” A.M. Best said in its annual Canadian Market segment report. “Cannabis continues to be an area of opportunity for carriers, though […]
By Greg Meckbach | September 12, 2019
Editor’s Note: In an earlier version of this story, Canadian Underwriter incorrectly reported Economical Insurance’s net loss in 2017. Canadian Underwriter regrets the error. Commercial premiums for Economical Insurance are down more than 10%, but that does not mean prices are dropping. “We have limited our exposure to highly volatile lines of business – those […]
By Greg Meckbach | August 19, 2019
2 min read
Why boiler and machinery insurance goes far beyond what its name suggests
By Greg Meckbach, Associate Editor | August 5, 2019
Cutbacks in oil and gas is one reason bond claims have become more frequent in Western Canada, a surety expert for the nation’s largest insurer suggests. A slowdown in the construction market in Alberta – and to some extent in Saskatchewan and Manitoba – is affecting the surety market, said Bob Landy, vice president of […]
By Greg Meckbach | July 29, 2019
If you place insurance for construction clients, they could be signing contracts that saddle them with risks that they should not be taking on. “We are beginning to see tenders coming out where not enough design work has been done for prospective contractors to properly price their bids, yet contracts are awarded anyway, leaving the […]
By Greg Meckbach | July 26, 2019
Linda Regner Dykeman is the new chief agent in Canada for German commercial insurer Allianz Global Corporate & Specialty SE. She replaces Ulrich Kadow, who is now global head of marine for Munich-based AGCS, which has offices in Toronto, Montreal and Vancouver. Dykeman has more than 25 years of commercial P&C experience for insurers in […]
By Greg Meckbach | July 16, 2019
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