Topic
Commercial Lines
How your commercial clients are faring with fraud prevention
March 2, 2023 by Jason ContantThree-quarters of small and medium-sized enterprises (SME) in Canada experienced fraud within the past year, even though nearly nine in 10 reported having a fraud prevention and response program in place, according to a new survey from KPMG in Canada.…
Indigo refuses to pay ransom, warns stolen employee data may be posted to dark web
March 2, 2023 Brett Bundale - THE CANADIAN PRESSCanada’s biggest bookstore chain has warned employees that data stolen in a cyberattack may be posted on the so-called dark web after it refused to pay a ransom demand, Indigo Books & Music Inc. said Thursday. The retailer’s network was…
Oil well cleanup program listed as ‘key objective’ in Alberta’s pre-election budget
March 1, 2023 Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta Premier Danielle Smith’s last budget before an expected spring election gives strong support to a proposed tax break for energy companies to fulfill their legal cleanup duties but doesn’t tell voters how much would be spent on…
Do clients have a better handle on supply chain risk?
February 28, 2023 by Alyssa DiSabatinoMany businesses are still recovering from supply chain disruptions that shocked them during the height of the pandemic, and 80% of firms said a lack of insurance solutions is among the greatest challenges to addressing their risks, according to a…
Court approves insurer’s settlement over COVID flight cancellations
February 23, 2023 by David GambrillOntario’s Superior Court has approved a $4.8-million settlement in a class action lawsuit related to the denial of travel insurance claims by TD Home and Auto Insurance for cancelled flights during the first months of the COVID-19 pandemic. During that…
How automation’s shifting on-site claims work to bigger losses
February 23, 2023 Philip PoradoCOVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that…
Sales Column: Clients ignoring your emails? Try texting
February 22, 2023 Adam MitchellPeople love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…
Alberta, Saskatchewan methane emissions almost 4 times more than reported: research
February 21, 2023 by Jason ContantNew research using advanced technology suggests heavy oil facilities in Alberta and Saskatchewan are releasing almost four times the amount of a powerful greenhouse gas than they report to government. The research, published in the journal Environmental Science and Technology,…
When will self-driving tech consistently prevent crashes?
February 17, 2023 Harrison Griffiths and Hannah Van StaverenOne aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier…
Why one cyber expert believes cyber insurance is in a good place right now
February 16, 2023 by Jason ContantThe cyber insurance market has never been in a more stable and positive position going into 2023, largely because of the learning experiences over the last two to three years, one cyber expert told Canadian Underwriter in an interview Wednesday.…
Will volatile stock markets spark claims against asset managers?
February 15, 2023 Philip PoradoSo far, wobbly stock markets aren’t sparking higher claims activity for asset managers’ liability coverages. But the kinds of investor claims that lead to complaints against money managers often lag the equity markets’ overall performance, noted Reid Irwin, practice leader…
Westland acquires brokerages in two provinces
February 15, 2023 by Jason ContantWestland Insurance continues its expansion across Canada with acquisition of Quebec-based Niche Assurance Inc. and Saskatchewan-based Heritage Insurance, effective Feb. 1. The latest acquisitions come a month after industry veteran Doug Morrow joined Westland as its new vice president of…