Topic
Legal
Nearly 400 impaired drivers caught during Saskatchewan safety blitz in December
January 20, 2015 by Canadian UnderwriterNearly 400 impaired drivers were caught on Saskatchewan roads during a province-wide traffic safety spotlight in December, SGI said Tuesday. In total, there were 381 offences related to alcohol or drug use while driving, including: 38 zero Blood Alcohol Content…
Changes to cyber approach needed, retired U.S. general tells P&C industry
January 15, 2015 by Canadian UnderwriterA new approach to combating cyber security risks must be developed, one that incorporates better legislation and defensible architecture, a retired U.S. army general said during the Property/Casualty Insurance Joint Industry Forum in New York. With the continuous changes in…
TRIA will ‘continue to protect’ U.S. economy against major terrorist incidents, American insurers say
January 14, 2015 by Canadian UnderwriterAssociations representing both risk managers and American property & casualty insurance carriers praised the passage this week of a law extending the United States government backstop for commercial terrorism insurance coverage. The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) was…
Obama’s push for new cybersecurity legislation contains plans long used, proposed in Congress
January 13, 2015 Jack Gillum, THE ASSOCIATED PRESSWASHINGTON – President Barack Obama is proposing cybersecurity legislation that increases government information-sharing and protects businesses from lawsuits for revealing cyberthreats. But an Associated Press review shows that some of his plans are retreads from years past. Privacy advocates criticized…
Top military adviser says U.S. part of ‘level playing field’ when it comes to cyberwarfare
January 12, 2015 THE ASSOCIATED PRESSWASHINGTON – Gen. Martin Dempsey says the hacking of Sony Pictures Entertainment demonstrates the military superiority enjoyed by the United States doesn’t necessarily carry over to the cyberworld. As chairman of the Joint Chiefs of Staff, Dempsey serves as President…
Settlement reached in Lac Megantic lawsuit to compensate victims
January 9, 2015 By Peter Rakobowchuk - THE CANADIAN PRESSMONTREAL – Victims of the 2013 rail disaster in Lac-Megantic, Que., have reached a major financial settlement with the railway that was at the heart of the deadly tragedy. A U.S. lawyer who worked on the wrongful-death lawsuits said Friday…
U.S. said not responsible for cyberattacks that crippled North Korea’s Internet
January 9, 2015 by Canadian UnderwriterWASHINGTON – The U.S. government was not responsible for sustained electronic attacks that crippled North Korea’s Internet infrastructure last month, just after President Barack Obama promised that his administration would respond to the hacker break-in at Sony Pictures Entertainment Inc.,…
Honda fined record $70 million for not reporting death, injury complaints involving its cars
January 9, 2015 Joan Lowy, THE ASSOCIATED PRESSWASHINGTON – The Obama administration said Thursday it is fining Honda $70 million – the largest civil penalty levied against an automaker – for not reporting to regulators some 1,729 complaints that its vehicles caused deaths and injuries, and for…
U.S. Senate sends terrorism insurance bill to Obama after bipartisan vote
January 8, 2015 Andrew Taylor, THE ASSOCIATED PRESSWASHINGTON – The Senate Thursday approved legislation to renew a federal program that is credited with reviving the market for insurance against terrorist attacks after its collapse in the aftermath of the 9-11 attacks. The sweeping 93-4 vote sends the…
Large electronic funds transfers must now be reported to Canada Revenue Agency
January 8, 2015 by Canadian UnderwriterCanada Revenue Agency announced Wednesday that effective Jan. 1, certain companies and associations are now required to report electronic funds transfers of $10,000 or more. Essentially, companies that have already been submitting reports to the Financial Transactions and Reports Analysis…
A Firm Stand
January 1, 2015 Gordon Rasbach, Vice President, Anti-Fraud Management, Aviva CanadaCanada’s insurance industry is making strides in the fight against fraud, but more needs to be done with regard to detection, prevention and deterrence. A strong strategy of deterrence, coupled with a clear and defined anti-fraud philosophy, must become more prevalent.
Rethinking Limits
January 1, 2015 David Tupper, Partner; and Keith Marlowe, Litigation Associate, Blake, Cassels & Graydon LLPInsurers in Alberta and British Columbia are obligated to provide notice of limitation periods to claimants. But a recent ruling out of Alberta makes reasonably clear that insurers in the province are not under an obligation to provide notice of limitation periods for claims with which they became aware prior to July 2012.