Canadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks. Ottawa-based ENCON Group said in a…
Truth can be stranger than fiction, especially when one looks at the Ontario auto insurance system. On April 11, the provincial government released David Marshall’s review of the system. Marshall is a former chief executive officer of the Workplace Safety…
The Office of the Superintendent of Financial Institutions (OSFI) on Thursday published the draft 2018 version of its Minimum Capital Test (MCT) for federally regulated P&C insurers. The revised guideline, which will be effective Jan. 1, 2018, provides clarification with…
The Transportation Safety Board of Canada reiterated Wednesday a 13-year-old recommendation that the federal government mandate safety management systems for small passenger enterprises. TSB released Wednesday an investigation report into the fatal capsizing Oct. 25, 2015 of the Leviathan II…
Companies in Canada and around the world are being increasingly impacted by risk, with nearly three quarters (72%) of business leaders polled in a recent survey “citing that they believe we are living in a riskier world,” said a new…
Large shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released…
Reduced market access, regulatory fragmentation, the return of inflation, cloud risk accumulation and emerging liability legislation for artificial intelligence are just some of the key risks for the re/insurance industry, according to Swiss Re’s 2017 SONAR report. The report, released…
The City of Toronto will soon consider recommendations to adopt new rules for short-term rental platforms such as Airbnb – which are unregulated – to address concerns ranging from noise to safety and taxation, notes a municipal backgrounder. The Report…
The Alberta Insurance Council (AIC) has announced that its General Insurance Council (GIC) has approved the issuance of a restricted certificate of authority authorizing both vehicle and equipment dealerships to sell gap insurance. Gap insurance is property insurance that covers…
Results from the federal government’s oral fluid drug screening device pilot project suggest the devices can be “successfully used in Canada” to identify drivers who test positive for certain drugs in various conditions, Public Safety Canada (PSC) reported on Tuesday.…
REGINA – Saskatchewan’s provincial auditor says the government isn’t doing enough to effectively regulate oil and gas pipelines. Judy Ferguson says in her annual report that as of the end of March, the Ministry of the Economy did not have…
Economical Insurance announced on Tuesday that it is “migrating to a simpler legal entity structure while continuing to offer a wide range of products and excellent service to broker partners and customers” as it continues its journey to become a…