Ontario Insurance News Roundup for November 1, 2021

by | Nov 1, 2021 | Living, Preventing, Working

Ontario Insurance News Roundup for November 1, 2021

Business Insurance Quote

Request a business insurance quote online.
It only takes a minute.

The Ontario Insurance News Roundup for the week of November 1, 2021 looks cyber liability insurance rates, commercial insurance costs, Barrie tornado damage estimates, digital insurance documents in Ontario.

Customers increasingly receptive to digital documents – Canadian Underwriter

It’s not due entirely to the pandemic but brokerage customers are more open to digital documents and focused on convenience, said panellists during an Insurance Brokers Association of Ontario (IBAO) virtual convention session.

Damage estimate for Barrie tornadoes jumps to $100M, Insurance Bureau says – CBC News

The Insurance Bureau of Canada says new estimates indicate the tornadoes that hit Barrie, Ont. and surrounding communities in July caused $100 million in insurable damage — up $25 million from previous estimates.

Insurance is becoming a major cost constraint for small businesses – The Globe and Mail

As an entrepreneur, David Farnell often doesn’t sleep well. And since the pandemic disrupted his Toronto-based catering company, Real Food for Real Kids, he sometimes finds himself lying awake at 4 a.m., wondering how he can keep running his business that delivers healthy food to thousands of kids at schools and daycares across the Greater Toronto Area.

Commercial insurance pricing – what’s going on? – Insurance Business Canada

Marsh has revealed that global commercial insurance pricing rose 15% in Q3 2021, while cyber rates continue to rise on increased losses. These were two of the key takeaways from the broker and risk advisor’s Global Insurance Market Index, which was published today.
Posted in: Living | Preventing | Working