Topic
Markets / Coverages
Are your cyber clients ‘red-teaming?’
January 26, 2018 Greg Meckbach, Associate EditorBrokers placing cyber insurance should advise their commercial customers that it’s not enough to just have a plan to respond to computer security breaches — they need to test the plan, or “red-team” it. “An incident response plan is not…
Pilotless planes on the horizon if public acceptance grows, say experts
January 26, 2018 Ross Marowits - THE CANADIAN PRESSMONTREAL – Canadians may not be quite ready to fly on a pilotless aircraft but technological advances in self-driving vehicles are already opening the door to autonomous commercial flight, an increasingly attractive prospect for industry players facing a dearth of…
Real-time data exchange within reach for first notice of loss
January 25, 2018 by David GambrillThe Toronto Insurance Conference (TIC) has announced the rollout of the Data Exchange Model (Dx) Initiative, a proof of concept for real-time integration between an insurer technology platform and a broker management system (BMS) platform. TIC has partnered with RSA,…
First Canadian insurance regulator approves electronic pink slips
January 25, 2018 by Jason ContantThe Office of the Superintendent of Insurance of Nova Scotia has become the first regulator in Canada to permit electronic proof of auto insurance (EPAI). Earlier this month, the provincial superintendent of insurance, William Ngu, released a bulletin outlining the…
What is creating confusion in the cyber insurance market?
January 25, 2018 by Jason ContantThe lack of understanding around what is covered and how products are priced continues to sow confusion in the cyber insurance market. Robin Shufelt, assistant vice president of technology and cyber with The Sovereign General Insurance Company (a member of…
Home inspector out $13,000 for leaky foundation advice
January 25, 2018 by Greg MeckbachA home inspector was successfully sued for more than $13,000 in British Columbia for not advising buyers of a leaking Chilliwack home to fix foundation cracks. In a ruling released Monday, Provincial Court of British Columbia Justice Kenneth Skilnick ruled…
MGAs being asked to place more standard commercial risks
January 25, 2018 by Greg MeckbachBrokers are finding it more difficult to place some standard commercial risks, such as property and liability, and this is changing the managing general agent market, an official with a new MGA association says. “A number of the standard market…
Plane ‘too heavy:’ Passengers in Fond du Lac crash file class action lawsuit
January 25, 2018 The Canadian PressFOND DU LAC, Sask. – Survivors of a plane crash in a remote community in northern Saskatchewan have filed a class-action lawsuit alleging the airline was negligent. The claim against West Wind Aviation and Athabasca Basin Development, the airline’s majority…
What if the Alaskan earthquake happened in Canada?
January 24, 2018 by Jason ContantA recent earthquake off the coast of Alaska, which prompted a brief tsunami warning for British Columbia, resulted in no immediate reports of damage — but what if it did strike Canada’s westernmost province? A 2013 study by catastrophe modelling…
The cyber extortion threat that your policies may overlook
January 24, 2018 by Jason ContantA new cyber threat has emerged and it’s something that cyber insurance policies may not even cover. Proactive extortion occurs when a cybercriminal contacts a selected company, by email or even “snail mail,” and informs the company that it has…
Coffee burn case sees courts flip-flop on vicarious liability
January 24, 2018 Greg Meckbach, Associate EditorA recent Ontario court ruling against a coffee shop serves as a warning to defendants that individual employees can be named personally in personal injury lawsuits against corporations. “There is no general rule in Canada that an employee acting in…
Buying a cyber policy? Make sure it’s retroactive
January 24, 2018 by Jason ContantWhen it comes to cyber insurance policies in Canada, retroactivity is noticeably absent from coverage, a cybersecurity expert told Canadian Underwriter Tuesday. Consider the following example: unbeknownst to a business, malware had existed in the organization’s computer system since November…