Keyword
businesses
Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada
July 19, 2017 by Canadian UnderwriterCanadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.…
Judicial determination on interpretation of property Cat XOL with reinsurers sought
July 18, 2017 by Angela StelmakowichAlberta Motor Association Insurance Company is looking to divide the loss arising out of the Fort McMurray wildfire, which exceeded a duration of 168 hours, into six multiple loss occurrences in line with its reading of its property catastrophe excess…
It will ‘take until the end of the year’ for Lake Ontario water level to drop to average level: Toronto city staff
July 4, 2017 by Canadian UnderwriterThe water level of Lake Ontario at Toronto will not drop to its average level until the end of the year and frost this winter could “further exacerbate” infrastructure damage, though the exact cost of infrastructure damage has yet to…
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…
Suspected tornado flattens businesses in Alabama
June 22, 2017 Kevin McGill - THE ASSOCIATED PRESSNEW 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…
Government of Alberta invests in debris dam to protect homes, businesses and infrastructure in Canmore
May 29, 2017 by Canadian UnderwriterThe 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…
Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron
April 7, 2017 by Angela StelmakowichWhen 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…
Insured losses from Cyclone Debbie reach AU$306 million: Insurance Council of Australia
April 4, 2017 by Canadian UnderwriterThe 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…
FM Global launches worldwide flood map for commercial properties
April 4, 2017 by Canadian UnderwriterCommercial 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…
Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor
March 31, 2017 by Angela StelmakowichThere 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…
Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments
March 20, 2017 by Canadian UnderwriterThe 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…
Global businesses unclear on how to combat targeted, DDoS attacks, Kaspersky survey reveals
January 6, 2017 by Canadian UnderwriterGlobal 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…