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Wildfires prompt evacuations on outskirts of Penticton, B.C.

July 20, 2017 by THE CANADIAN PRESS

PENTICTON, B.C. – Residents of a rural area on the outskirts of Penticton, B.C., on Thursday joined the more than 45,000 people in British Columbia who have fled their homes due to fast-moving fires. The blaze broke out around 9

News InsurancePersonal Lines

Loss ratio deteriorates 6.1 points for Saskatchewan Auto Fund

July 20, 2017 by Canadian Underwriter

Saskatchewan’s Auto Fund reported Thursday a loss ratio of 86.5% for the year ending March 31, 2017, up 6.1 points from 80.4% during the same period a year earlier, while the head of Saskatchewan Government Insurance suggested that with the

News Insurance

Supreme Court to hear appeal of production order in lawsuit seeking health care costs from tobacco firms

July 20, 2017 by Canadian Underwriter

The Supreme Court of Canada announced Thursday it will hear an appeal from the British Columbia government, of a production order, in a lawsuit seeking to recover health care costs from tobacco companies. A B.C. court previously ordered the provincial

News Legislation / RegulationPersonal Lines

Ontario auto rates up 0.76% in Q2: FSCO

July 20, 2017 by Canadian Underwriter

Approved rate increases for auto insurance in Ontario were an average of 0.76% in the second quarter of 2017 for insurers representing slightly more than half the market, the Financial Services Commission of Ontario reported recently. FSCO said that for

News InsuranceTechnology

Cyber threat landscape growing, potential for emergence of destruction of service attacks: Cisco

July 20, 2017 by Canadian Underwriter

The potential for “destruction of service” (DeOS) attacks is greatly concerning and organizations would be well-advised to adopt a proactive cyber stance in their protection efforts to combat increasingly sophisticated attackers, warns a new report from Cisco. “Cyber incidents such

News Commercial LinesConstructionInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

July 20, 2017 by Canadian Underwriter

Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts

News CatastrophesReinsurance

British Columbia extends state of emergency two weeks due to wildfires

July 19, 2017 by THE CANADIAN PRESS

VICTORIA – British Columbia’s new government is extending the state of emergency for two more weeks as wildfires sweeping across the province’s Interior show no signs of slowing. Premier John Horgan said his government’s first priority is to support the

News CatastrophesPersonal LinesReinsurance

Capital markets could help transfer U.S. flood risk to private market: Artemis

July 19, 2017 by Canadian Underwriter

The “glut of reinsurance capital and interest from capital markets” could help the United States government reform its flood insurance subsidy program by making the heavily-indebted National Flood Insurance Program a “much smaller insurer of last-resort,” Artemis.bm suggested Wednesday on

News Commercial Lines

Owner of rail line to Churchill ‘not prepared to repair’ flood-damaged track: Manitoba cabinet minister

July 19, 2017 by THE CANADIAN PRESS

CHURCHILL, Man. – Omnitrax says the flooded-out rail line to Churchill, Man., could be fixed before this winter, but the company won’t be putting up the money to do it. Omnitrax officials said Tuesday the price tag for the repairs

News LegalLegislation / RegulationPersonal Lines

New impaired driving laws could let ‘majority of stoned drivers’ escape prosecution: advocacy groups

July 19, 2017 by Canadian Underwriter

Canada’s ruling Liberals want to make it an offence for vehicle operators to have more than two nanograms for milliliter of tetrahydrocannabinol (THC) in their blood, but two lobby groups suggested Wednesday it should be an offence, in some circumstances,

News Commercial LinesInsuranceMarkets / Coverages

Beazley launches environmental coverage in Canada

July 19, 2017 by Canadian Underwriter

Beazley has launched its local environmental coverage in Canada with a product suite tailored to the specific market. The suite includes the ECLIPSE (fixed site) form, the ENVIRO (contractors’ pollution legal liability) form and the BeazleyOne (combined) form. Limits are

News InsuranceTechnology

Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada

July 19, 2017 by Canadian Underwriter

Canadian 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.