Topic
Markets / Coverages
Toronto self-driving company strikes partnership with Uber Freight
September 22, 2023 The Canadian PressTORONTO – Self-driving tech company Waabi says it has struck a partnership with Uber Technologies Inc.’s freight division to accelerate autonomous trucking adoption. Toronto-based Waabi says the partnership will combine its core self-driving technology with Uber Freight’s logistics platform and…
How Canada’s P&C insurers are faring under IFRS 17
September 21, 2023 by Jason ContantDespite significant changes to financial statements from IFRS 17, 2023 is shaping up to be an “average” year at best for Canada’s P&C insurers, even as continued Cat events remain likely to negatively impact Q3, says a new report. In…
How ransomware claims are trending
September 20, 2023 by Jason ContantRansomware claims have transformed from mostly third-party liability claims into first-party liability, a cyber insurance expert tells Canadian Underwriter. “It used to be third-party liability; you were concerned about monitoring credit, and somebody sues you because of a hack,” said…
Why captives will stick around after a hard market
September 20, 2023 by Alyssa DiSabatinoCanada’s P&C insurance industry is showing signs of market softening in some lines, but captives remain a viable option for commercial clients — particularly in fledgling tech industries such as cryptocurrency. Alternative risk transfer solutions have merit even when hard…
What’s driving challenges in commercial property?
September 19, 2023 by Jason ContantChallenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to…
Weather Network app still can’t send alerts days after cyberattack
September 15, 2023 Mia Rabson - THE CANADIAN PRESSOTTAWA – The Weather Network and MeteoMedia still can’t send weather alerts through push notifications from its app following a “malicious cyberattack” on Monday. But Pelmorex, the parent company of the two weather services, says the attack is not affecting…
UBI app offers quarterly price adjustments for drivers
September 14, 2023 by Jason ContantDefinity Financial Corporation has launched a usage-based insurance (UBI) product it describes as the first-ever to offer quarterly price adjustments based on recent driving scores. “We wanted to make sure drivers were able to benefit quickly from their safe driving…
Twin polls suggest slim majority of Albertans support oil and gas emissions cap
September 14, 2023 Bob Weber - THE CANADIAN PRESSEDMONTON – Most Albertans would support some kind of national cap on carbon emissions from the oil and gas sector, two new polls suggest. The polls, conducted by different polling firms at the same time with the same questions, come…
BrokerLink continues expansion with Atlantic Canada acquisition
September 13, 2023 by Jason ContantBrokerLink continues its growth in Atlantic Canada with the acquisition of Nova Scotia-based brokerage Roger E. Strum Limited. Headquartered in Windsor, N.S., Strum Insurance has offered professional guidance for home, auto, motorcycle, recreational vehicle, boat and business insurance for more…
Province aware of dike problems before destructive flooding in 2021, documents show
September 13, 2023 Brenna Owen - THE CANADIAN PRESSOfficials with the British Columbia government and the City of Merritt were aware of significant problems with dikes for several years before a series of atmospheric rivers flooded the community, documents released through a freedom of information request show. The…
Regulator suspends, revokes licences of 170 health service providers
September 12, 2023 by Jason ContantOntario’s financial services regulator has suspended or revoked the licences of 170 health service providers (HSPs) who failed to comply with their annual business reporting obligations. A total of 118 HSP licences were revoked and 52 were suspended, the Financial…
B.C. wildfires continue to burn through September
September 12, 2023 The Canadian PressVANCOUVER – The latest evacuation order issued due to a wildfire in British Columbia covers a rural area north of Prince George in a region straddling the boundaries of two regional governments. The regional districts of Fraser-Fort George and Bulkley-Nechako…