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No evidence that RCMP data was extracted during recent cyberattack: commissioner

February 28, 2024 by The Canadian Press

OTTAWA – The head of the RCMP said Tuesday there was no evidence to date that personal or operational information had been pilfered from the national police force’s systems during a recent cyberattack. “Based on information that we’ve gone through,…

Inverness beach with sand dunes in Cape Breton, N.S. News Insurance

New N.S. coastal protection plan shifts responsibility to homeowners, municipalities

February 27, 2024 by Keith Doucette – The Canadian Press

HALIFAX – Nova Scotia’s new plan to protect the province’s 13,000 kilometres of coastline is an abdication of the government’s responsibility, the opposition and environmental activists said Monday. The strong criticism came swiftly after Environment Minister Tim Halman announced the…

Businessman using a computer and dashboard RPA News BrokersInsuranceTechnology

Why brokers are embracing the ‘bots

February 27, 2024 by Jason Contant

Robotic process automation (RPA) used to automate brokers’ repetitive tasks has become a much more mainstream technology over the past year or two, the co-founder of software robot tech company Quandri told Canadian Underwriter in an interview. “A couple of…

Autonomous car sensor system concept for safety of driverless mode car control News ClaimsInsurance

Safety tech in cars isn’t reducing insurers’ claims costs

February 27, 2024 by David Gambrill

Much has been made of the new electronic safety tech in cars, but it doesn’t seem to be making a dent in auto insurers’ claims costs, according to a new report by Rates.ca. “You might expect that with more safety…

Saving coins to represent high cost insurance coverage for cyber attacks News BrokersClaimsInsurance

Pricing still affects brokers’ ability to sell cyber

February 27, 2024 by David Gambrill

To the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price…

Blue double exposure of money coins stacking with bar graph for financial and investment business concept. News Insurance

Why Co-operators posted an underwriting loss in 2023

February 26, 2024 by Alyssa DiSabatino

Co-operators General Insurance Company reported an annual underwriting loss of $184 million in 2023.   This figure, which excludes discounting and risk adjustment, accounts for “a decline of $356.2 million from the underwriting gain of $171.3 million in the same period of 2022.”  Discounted estimates…

Beers at a big event News InsuranceTechnology

Here’s what creates risks for hospitality providers in 2024

February 26, 2024 by Philip Porado

As Canada eases out of the COVID-19 pandemic, the country’s restaurateurs, hoteliers, and event venue operators face a multitude of risks. Changes over the past four years have hospitality providers swimming in a toxic soup of pandemic-stunted social habits, inflation-dented…

Taxi car with Uber logo on the snowy street. News ClaimsInsuranceLegalMarkets / Coverages

Why this Uber driver was not injured in an auto accident

February 26, 2024 by David Gambrill

An Uber driver who slipped on ice when helping a passenger load the trunk was not involved in an auto ‘accident,’ the Ontario Licence Appeal Tribunal has ruled. The ruling is consistent with a trend in Ontario case law over…

Snow fall covering a car in Nova Scotia News ClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

As planet warms, ferocious snowfalls like the one that hit Nova Scotia could increase

February 26, 2024 by Hina Alam, The Canadian Press

ATLANTIC CANADA – Forecasters say a warming global climate could actually cause some parts of Canada to see colder conditions, including heavy snowfalls like the one that hit parts of the Maritimes this week. There’s a direct relationship between the…

Alberta and Canada flags News InsuranceLegislation / RegulationMarkets / Coverages

Intact CEO’s take on fear of auto rate cap contagion

February 23, 2024 by David Gambrill

Intact CEO Charles Brindamour does not anticipate Alberta’s auto rate cap will bleed over into Ontario’s private auto insurance sector. “There’s always a risk,” Brindamour told Mario Mendonca, managing director of equity research at TD Cowen, during a fireside chat…

The McDougall Creek wildfire in West Kelowna, BC. News Insurance

What the B.C. government promised in disaster mitigation funding

February 23, 2024 by Alyssa DiSabatino

The British Columbia government announced Thursday it’s investing $405 million over four years to better prepare the province for disaster mitigation and climate emergencies.   The budget includes a breakdown for how government will respond to specific disasters and evacuation. …

Are SUVs getting too big to avoid serious accidents? News ClaimsInsuranceLegal

Will bigger vehicles lead to bigger claims?

February 23, 2024 by Philip Porado

With accident rates climbing, one growing area of concern is that vehicles are becoming much larger. For example, rapid changes in vehicle specs mean full-size SUVs from 1999 would today meet the gearhead moniker of ‘Cute Ute.’ With sport utility…