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Officials say damaged rail line to Churchill, Man. could be fixed in two months

June 23, 2017 The Canadian Press (CPSTF)

WINNIPEG – Indigenous and municipal leaders from northern Manitoba say a broken rail line to Churchill could be fixed in about two months if governments and the railway owner are willing to spend the money. Chief Betsy Kennedy of the

News CatastrophesCommercial LinesInsurancePersonal Lines

Suspected tornado flattens businesses in Alabama

June 22, 2017 Kevin McGill - THE ASSOCIATED PRESS

NEW ORLEANS – A suspected tornado near Birmingham, Alabama, flattened businesses and injured one person Thursday, while the mayor of a coastal Louisiana town urged residents to evacuate ahead of a rising tide – two lingering effects of a weakening

News CatastrophesClimate ChangeCommercial LinesConstructionInsurancePersonal Lines

Government of Alberta invests in debris dam to protect homes, businesses and infrastructure in Canmore

May 29, 2017 by Canadian Underwriter

The Government of Alberta announced on Friday that it is investing an additional $10.3 million to protect homes, businesses and infrastructure in Canmore. The money represents the final funding towards a $48.6-million debris dam at Cougar Creek and is part

News AssociationsCatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesCommercial LinesInsurancePersonal Lines

Insured losses from Cyclone Debbie reach AU$306 million: Insurance Council of Australia

April 4, 2017 by Canadian Underwriter

The Insurance Council of Australia (ICA) has estimated insured losses to date from Tropical Cyclone Debbie at AU$306 million from 28,000 claims. ICA estimated the insured losses as of 9 a.m. on Tuesday. It also warned in a press release

News CatastrophesCommercial LinesInsuranceTechnology

FM Global launches worldwide flood map for commercial properties

April 4, 2017 by Canadian Underwriter

Commercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new

News AssociationsCatastrophesClimate ChangeInsurance

Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor

March 31, 2017 by Angela Stelmakowich

There are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association

News InsuranceLegislation / Regulation

Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments

March 20, 2017 by Canadian Underwriter

The Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week. Friesen said in a statement that the

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Global businesses unclear on how to combat targeted, DDoS attacks, Kaspersky survey reveals

January 6, 2017 by Canadian Underwriter

Global businesses are not confident on how to protect themselves against threats like targeted cyberattacks and distributed denial of services (DDoS) attacks, according to new research from worldwide cybersecurity company Kaspersky Lab. Research from the Corporate IT Security Risks annual

News AssociationsCatastrophesClimate ChangeCommercial LinesConstructionEarnings / RatingsLegislation / RegulationPersonal LinesReinsurance

Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board

November 22, 2016 by Canadian Underwriter

The Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event

News CatastrophesClimate ChangeInsuranceProfessional Development

Canadian business leadership critical to reducing climate and other natural disaster risks, PwC Canada says

October 7, 2016 by Canadian Underwriter

Canadian business leadership is crucial to reducing the risks from climate and other natural disasters, PwC Canada said on Friday. That day, PwC convened a group of private and public sector leaders to discuss the case for Canadian businesses to

News Commercial LinesInsuranceProfessional DevelopmentTechnology

78% of global businesses believe digital start-ups pose threat to their organization: Dell Technologies study

October 7, 2016 by Canadian Underwriter

Nearly four in five (78% of) global businesses believe that digital start-ups pose a threat to their organization, either now or in the future, and almost half (45%) surveyed fear that they may become obsolete in the next three to