Keyword
Risk
What brokers are asking of their underwriters
February 12, 2021 by David GambrillIn the midst of a hard market in several Canadian commercial insurance lines, several senior Canadian broker executives are urging underwriters not to substitute data and analytics entirely for their own good judgment about what constitutes a good or a…
Regulator’s pilot project to start scenario-testing for climate change risks
January 7, 2021 by David GambrillCanada’s solvency regulator has introduced a pilot project in 2021 to conduct scenario testing of the impact of various climate-related risks on financial institutions’ bottom lines. “The first step of the pilot project is to develop a Canada-relevant set of…
Overcoming AI’s bias: Models are only as good as the data you feed into them
January 6, 2021 by Adam MalikIf people intend to use data to help mitigate risk or save lives, that data must be trustworthy, says an artificial intelligence expert. Sean Griffin, CEO and co-founder of Disaster Tech, a disaster risk data firm, pointed out during CatIQ…
Expectations and relevancy: What’s at risk for the P&C industry
September 30, 2020 by Adam MalikIf the property and casualty insurance industry doesn’t “come to grips” with meeting client needs, the industry is at risk of losing relevancy in the marketplace, warned an industry consultant. Phil Cook, who is also chairman of Omega Insurance Holdings,…
Why the risk for small car drivers is growing
July 2, 2020 by Adam MalikSmall cars may be even more dangerous to drive these days just because they are sharing the road with an increasing number of larger vehicles, which have dominated new auto sales in recent years. The Insurance Institute of Highway Safety…
Opinion: COVID is nasty and impactful, but it’s not a Black Swan
May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss ReductionSince the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak…
Cyber risks involved with digital contact tracing
May 19, 2020 by Adam MalikHealth officials are recommending time-honoured techniques to help reduce the spread of the novel coronavirus. Today’s technology can make these methods more effective than they’ve ever been, a researcher argued recently, but that means people would have to sacrifice one…
Opinion: Climate change isn’t pausing for the pandemic
May 7, 2020 Dr. Janis Sarra, Professor of Law, University of British ColumbiaAs the insurance sector adjusts to respond to challenges related to the novel coronavirus, flood season in Canada is beginning. Today, residents in Fort McMurray, Alta., are returning to clean up their flooded homes and businesses on the anniversary of…
Considering your climate risks? The solvency regulator is, too…
March 3, 2020 by David GambrillClimate change risk is very much on the radar of Canada’s solvency regulator. In a mid-February speech to the 17th Annual Review of Insolvency Law (ARIL) Conference in Vancouver, B.C., Jeremy Rudin, Canada’s superintendent of financial institutions, outlined three climate-related…
New Year’s resolutions
January 10, 2020 David Gambrill, Editor in ChiefWhat the P&C industry promises to itself and Canadians over the next year
Top 6 risks facing Canadian businesses in 2020
December 20, 2019 by Jason ContantThe risk landscape for Canadian businesses continues to evolve rapidly, but that doesn’t mean companies have to be caught unprepared. These evolving risks include everything from technology and cybersecurity to shifting regulatory considerations, reputational risk, employee liability, data and privacy…
What the Bank of Canada sees as “transition risks”
November 22, 2019 Ian Bickis - THE CANADIAN PRESSTORONTO – Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio…