In this episode, we interview Peter Kennedy, National Director, Real Estate Practice, Aon Canada. Peter shared his insights about commercial insurance COVID claims, responses on the insurer’s side, and a needed evolution in structuring owner’s side insurance risk within net leases in Canada.
The podcast conversation covered:
- Commercial insurance in the time of COVID-19
- Business interruption insurance claims: physical vs non-physical damages
- Why pandemic risks are challenging for insurance companies
- Challenges and response on the insurer’s side
- Parametric policies targetted to specific events
- CRE in Canada: what will the future look like in terms of insurance policies
- Evolution of restructuring owners side insurance risk
Peter has 30 years in the industry and currently leads Aon Canada’s real estate client practice, which manages the insurance and risk programs for many of the country’s largest landlords, property managers and facility managers.
Since joining Aon in 1995, Peter has been advising clients and managing major accounts, including all forms of real estate (i.e. retail, industrial, office, hospitality, and residential). Prior to Aon, he spent two years as the risk manager at a major Toronto real estate developer and six years as the risk manager for a major municipality in the Greater Toronto Region.
Based in Toronto, Peter’s current responsibilities include senior account oversight, developing unique products and coverages, providing high-level expertise and resource capabilities to Aon’s real estate clients nationally, as well as working with Aon’s global real estate practice leaders in bringing the best of Aon to clients wherever required. In addition, he also is team leader for Aon Toronto’s Real Estate, Retail, Hospitality, Not For Profit and Cannabis segments.
Peter holds the following designations: B.B.A., F.C.I.P., C.R.M. and was an instructor at Seneca College for the Risk Financing course. A licensed broker in 3 provinces and Peter has presented on numerous real estate and related risk issues, including three times at RIMS Canada Conferences. He has authored numerous articles in industry publications, client bulletins and is frequently quoted in the real estate insurance industry.