Topic
Legal
Two more possible leaks in Saskatchewan town where natural gas blast levelled home
December 4, 2014 THE CANADIAN PRESSREGINA BEACH, Sask. – SaskEnergy says it is investigating two more possible gas leaks in a community north of Regina where a rupture is suspected in an explosion that levelled a home. The Crown utility says natural gas and water…
Amid debate, cyber experts cite similarities between Sony attack and 2013 hacks on South Korea
December 4, 2014 Brandon Bailey and Youkyung Lee, THE ASSOCIATED PRESSSEOUL, South Korea – Some cybersecurity experts say they’ve found striking similarities between the code used in the hack of Sony Pictures Entertainment and attacks blamed on North Korea which targeted South Korean companies and government agencies last year. Sony…
Aviation industry faces new risks, rising claims costs despite improved safety
December 4, 2014 by Canadian UnderwriterDespite several recent disasters, the aviation industry’s safety record has improved over the long term, although new risks are presenting a threat to the industry, according to a new report from Allianz Global Corporate and Specialty. Currently, there are fewer…
Average claim payout for large company cyber breaches $2.9 million: survey
December 4, 2014 by Canadian UnderwriterThe average claim payout following a cyber breach for surveyed insurers in the United States amounted to US$733,109, notes a study released Wednesday by NetDiligence, a cyber risk assessment and data breach services company. “The average claim payout for a…
Security experts doubt North Korea hacked into Sony; regime is angry over new Seth Rogen movie
December 3, 2014 By Martha Mendoza - THE ASSOCIATED PRESSSome cybersecurity experts say it is unlikely North Korea was behind the cyberattack that crippled Sony Pictures’ computers and possibly leaked unreleased movies online. Speculation has been rampant that the hard-line communist state sponsored last week’s hack in anger over…
Vehicle thieves in Canada keep on truckin’
December 3, 2014 by Canadian UnderwriterOrganized criminals in Canada are increasingly targeting Ford F-series trucks, with these vehicles occupying seven of the top 10 spots on the country’s most frequently stolen vehicle list for 2014, note figures released Wednesday by the Insurance Bureau of Canada…
New Brunswick premier wants fracking moratorium passed by Christmas
December 2, 2014 Kevin Bissett, THE CANADIAN PRESSFREDERICTON – The premier of New Brunswick says his government will introduce legislation for a moratorium on fracking for shale gas during the fall legislative session that begins Wednesday and he wants it passed by Christmas. The Liberals, who won…
Legislation before Senate proposes compulsory pollution insurance for Canadian-flagged ships, foreign ships in Canadian waters
December 1, 2014 by Canadian UnderwriterA bill before Canada’s senate would, if passed into law, require all Canadian-flagged ships – as well as foreign ships operating in Canadian waters – to have insurance covering the liability for pollution damage caused spills of hazardous and noxious…
Conviction made in Toronto-based staged collision ring: IBC
December 1, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is applauding what it calls a strong sentence handed down in connection with a “directing mind of several clinics” involved in a Toronto-area staged collision ring. Vishnukanthan Sabapathy – who pleaded guilty to two…
Supreme Court of Canada grants Zurich Insurance leave to appeal ruling over Ontario auto ‘pay first dispute later’ system
December 1, 2014 by Canadian UnderwriterThe Supreme Court of Canada recently announced it has granted, to Zurich Insurance, leave to appeal a Court of Appeal for Ontario ruling, over an auto insurance claim, released last May. In September, 2006, Sukhvinder Singh was injured in an…
Breach teach
December 1, 2014 Bobbie Goldie, Vice President, Professional Risk, ACE GroupThere is a need for more information about privacy insurance in Canada. Any organization that collects, transmits or stores customer, employee sensitive personal or corporate information should consider buying the insurance, but a number of important factors must be reviewed prior to purchase.
Pollution Solution
December 1, 2014 by Canadian UnderwriterBrokers would be well-advised to think beyond the commercial general liability policy when it comes to the environmental exposures contractors face. Having a clear understanding of client exposures is particularly important in light of the complex legal issues, regulatory provisions and contractual requirements that could unfold.