Industry
OTTAWA – Statistics Canada forecasts Canadians could spend more than $1 billion on legal cannabis between October and December this year once marijuana for adult use is legalized on Oct. 17. The agency estimates that the amount spent on legal pot during the fourth quarter could range between $816 million and $1.02 billion. It added […]
By The Canadian Press | September 21, 2018
1 min read
The Co-operators new digital insurance brand, duuo by co-operators, has launched its first product – on-demand, pay-per-use insurance for homesharing hosts. Guelph, Ont.-based Co-operators launched the product Tuesday, two months after the insurer said it was partnering with New York City-headquartered Slice Labs to create the brand. Duuo is powered by Slice Insurance Cloud Services, […]
By Jason Contant | September 20, 2018
2 min read
Managing general agent APRIL Canada announced Tuesday it has launched what it is calling the “only” unpaid rents and damage insurance for landlords in Ontario and Quebec. Historically, these two risks are not addressed by current insurance offerings, as insurers have treated landlords like any other homeowners, “which they are not,” said Charlotte Malaurie, national […]
By Jason Contant | September 18, 2018
Canada’s tourist boom is creating a big opportunity for brokers in travel insurance lines. “Brokers should take advantage of opportunities to ask their clients whether or not they have any friends or family travelling from abroad,” says Dan Keon, director of marketing and communications at Allianz Global Assistance in Canada. “In the same way that […]
By David Gambrill | September 17, 2018
Pollution liability is a risk some commercial clients don’t realize they have. Others may be aware of the risk, but mistakenly assume it is covered by an existing commercial general liability policy. Either way, brokers need to know what CGL policies exclude and where the pollution coverage gaps lie. Some CGL policies have endorsements covering […]
By Greg Meckbach | September 17, 2018
Brokers interested in selling marine insurance should target coverholders and managing general agents (MGAs) in Canada rather than going straight to the London market, advises Capt. John Hosty, national director of marine services at ClaimsPro. “There are a lot of MGAs and coverholders in Canada, and if brokers are selling marine, that’s where they should […]
By Jason Contant | September 17, 2018
In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity is still out there, and a lot of markets are still quoting on the types of risks we […]
By David Gambrill | September 14, 2018
In financial and legal lines of commercial insurance, the Canadian property and casualty insurance market has shown a greater willingness to serve clients who are engaged in mergers and acquisitions (M&A). Representations and warranties (R&W) insurance is a type of financial-legal insurance used when one company is buying another in a merger or acquisition. It […]
By Greg Meckbach | September 14, 2018
An emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance solutions at Trisura Guarantee Insurance Company. “Where we used to do things ourselves a little more […]
Commercial insurance clients in multiple industry segments can now receive tailored core coverages under a single package solution. Core coverages include first and third party cyber, D&O liability, media management crisis costs, event cancellation and currency devaluation. Tailored for seven specific industry segments, the core coverages are part specialist insurer CNA Canada’s new oneworld+ product. The […]
By Jason Contant | September 13, 2018
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