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04.05.2021 / 22:20

Desjardins drops disease-related liability, property damage coverage for some claims

The Insurance Bureau of Canada, which represents the country’s insurance agencies, said the international reinsurance market has added these exclusions with Canadian insurers because pandemic risk is too widespread to reasonably insure.“Generally, pandemic risk is not insurable as the insurance industry is… unable to diversify this risk due to it affecting all of the world at the same time,” said Vanessa Barrasa, a spokesperson with IBC.Insurance experts around the country say they expect other providers to introduce similar exclusions to their coverage, depending on the level of risk they’re willing to take on.“The name of the game in the insurance industry is to try and accurately estimate risk,” said Ian Lee, an associate professor with

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Canada ‘bets the farm’ on deficit spending amid coronavirus resurgence

Canada‘s vow to double down on pandemic-related spending to keep the economic recovery underway in the face of a second wave of COVID-19 infections will support activity but raises questions over the burgeoning deficit, economists say.The Liberal government on Wednesday made sweeping promises of major new investments and policy initiatives saying “this is not the time for austerity,” while giving few details on how those plans would be financed and at what cost.An economic update, including fiscal projections, will be released later this fall, it said.“It seems like they’ve bet the farm and doubled down on spending,” said Ian Lee, associate professor of management at Ottawa’s Carleton University.

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COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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