Increasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values…
As research drives new ways to build staircases that can prevent slip-and-falls, Canada’s building codes should be updated accordingly to reflect the safer designs. The importance of code updates is illustrated by falls on stairs, which in Ontario alone led…
No two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out…
Budgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they…
Canadian insurance industry players are using generative AI (GenAI) not just to simplify tasks like ‘traditional’ artificial intelligence, but for a variety of applications ranging from marketing and fraud detection, to legal documents, speakers said during a recent industry event.…
TIMMINS, Ont. – Ontario’s natural resources and forestry minister says the government will spend an additional $20.5 million over three years to help fight wildfires. Graydon Smith, making an announcement in Timmins, Ont., says this recent fire season has been…
When it comes to cybersecurity in 2023, employees are usually the weakest link, ethical hackers told Canadian Underwriter. This is especially true for smaller businesses, which often have no visibility into their corporate networks, little or no budget for cybersecurity,…
Coverage for high-value real estate, defined as sites worth $500 million or more, is often based as much on how those sites are used as on the physical assets themselves. Multi-use sites, where activities like manufacturing, distribution, logistics and management…
VANCOUVER – British Columbia’s emergency management minister said the province will be ready to introduce “in the coming weeks” new laws to govern responses to increasingly frequent natural disasters such as wildfires and flooding. Bowinn Ma told a gathering at…
SAINT JOHN, N.B. – A joint task force investigation into last week’s major fire at a scrapyard in Saint John, N.B., will consider whether the recycling plant should continue operating at the city’s port, says Premier Blaine Higgs. Higgs made…
Booming real estate markets in many Canadian cities have top-tier developers considering building sites they might previously have written off. “Here in Toronto, we know the city was heavily industrialized with old manufacturers that were there 100 years before going…
Officials with the British Columbia government and the City of Merritt were aware of significant problems with dikes for several years before a series of atmospheric rivers flooded the community, documents released through a freedom of information request show. The…