CALGARY – Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked U.S. intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s natural gas distribution network. They say oil and gas infrastructure in Canada…
An exceedingly tough reinsurance cycle saw insurers quoted double digit rate increases upon the Jan. 1 2023 renewal. Some portfolios without a significant loss history saw increases of 25% to 30%, while other portfolios with losses saw their reinsurance rate…
Underwriters are starting to address cyber exposure in directors and officers (D&O) policies, an insurtech told delegates at the NetDiligence Cyber Risk Summit in Toronto. “What we’re seeing is mandatory cybersecurity exposure questions on D&O submissions,” said Ben Davis, team…
Thousands of people in Ontario are without power after a messy mix of freezing rain and thunderstorms pummeled parts of the province, with downpours and possible ice storms still in the forecast. Hydro One says crews are responding as an…
Ontario’s Court of Appeal has laid down the law on trial lawyers habitually serving defendants’ auto liability insurers as a matter of course when they can’t find the defendants to serve notice of the lawsuit. Don’t do it. “As a…
A tribal council that represents five First Nations in northwestern Ontario says the first batch of local emergency medical responders from a new training program has graduated and will serve Pikangikum First Nation. The Independent First Nations Alliance says it…
Intact recently won an appraisal dispute with an insured who originally claimed more than four times the market value of his business property after a fire, prompting the court to find the insured was conflating actual cash value (ACV) of…
An M&A transaction can become even more complicated for both seller and buyer alike when a cyber breach occurs during the deal, experts at NetDiligence Cyber Risk Summit shared. Due diligence and adequate representations and warranties (R&W) coverage during the…
Editor’s Note: This article has been corrected to show that the Motor Vehicle Accident Claims Fund (MVACF) has a $200,000 maximum legal liability and not $250,000, as initially reported. Canadian Underwriter apologizes for the error. Spouses don’t have to…
Canada’s upcoming national flood insurance program will likely take characteristics from flood models in both France and Britain, Insurance Brokers Association of Canada (IBAC) CEO Peter Braid told Canadian Underwriter in an interview. In its 2023 budget, the federal government…
Insurers can expect pixel liability to “rear its ugly head” in Canada after recent litigation in the U.S., a lawyer at the NetDiligence Cyber Risk Summit said. Especially as one Canadian home improvement company has been deemed by the…
Cyber insurers are now deliberately addressing silent cyber coverage in insurance policies, a Marsh executive said Wednesday at NetDiligence’s Cyber Risk Summit in Toronto. “With property [insurance policies]…I’m not seeing silent cyber anymore. I’m seeing very purposeful underwriting,” Karen Continenza,…