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News CatastrophesClaimsClimate ChangeInsuranceMarkets / Coverages

$400M Ontario windstorm ‘not quite’ the new normal

June 15, 2018 by Jason Contant

If water is the new fire, then what is weather? For Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction (ICLR), weather is definitely what will be taking the lion’s share of payouts in the next quarter century.

News LegalMarkets / Coverages

Regulator says company had legal obligation to fix and maintain rail line

June 15, 2018 The Canadian Press

WINNIPEG – Federal regulators have ruled that the owners of a broken rail line to Churchill were wrong not to repair the line that kept the northern Manitoba community connected to the outside world. The Canadian Transportation Agency says the

News Markets / CoveragesTechnology

A new tool for small businesses in the fight against cybercrime

June 14, 2018 by Jason Contant

The federal government has unveiled its National Cyber Security Strategy, with which it will establish a voluntary, recognizable certification intended to enable small- and medium-sized enterprises (SMEs) to demonstrate to both businesses and consumers that they meet a baseline set

News InsuranceLegislation / RegulationMarkets / Coverages

Montreal borough votes to restrict Airbnb-style rentals in downtown core

June 13, 2018 The Canadian Press

MONTREAL – A Montreal borough is bringing in new rules aimed at limiting the number of short-term rentals in the city’s downtown core. Councillors in the Ville-Marie borough voted in support of a new motion on Tuesday evening to restrict

News Markets / CoveragesProducts

Travelers offers HR advice for small business clients

June 12, 2018 by Jason Contant

Travelers Canada has launched a new suite of services extending beyond insurance for small business customers. Legal assistance and human resources services will now be offered, at no extra cost, to help small business owners manage day-to-day activities fundamental to

News InsuranceMarkets / Coverages

Is investing in AI worth it for Canadian insurance carriers?

June 12, 2018 by Jason Contant

While the vast majority (94%) of Canadian insurance professionals surveyed believe that artificial intelligence (AI) will transform the insurance industry, the jury is still out on whether carriers are receiving a return on investment from analytics yet. Insurance Nexus released

News Markets / Coverages

Supreme Court rules against city over 2008 hockey riot vandalism

June 12, 2018 The Canadian Press

OTTAWA – The Supreme Court of Canada has ruled against the City of Montreal in a case involving rioters who damaged police vehicles after a 2008 Montreal Canadiens victory. Several police cars were set ablaze and some were destroyed in

News InsuranceMarkets / CoveragesTechnology

How fast are standalone cyber premiums growing in Canada?

June 11, 2018 by Jason Contant

Standalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,

News InsuranceMarkets / Coverages

Crews fight hotspots, flare ups in large fire

June 11, 2018 The Canadian Press

COLE HARBOUR, N.S. – Fire flared up again near a popular hiking trail in Cole Harbour, N.S., as crews continued to try to put out hotspots and quench the remnants of a large blaze that forced the evacuation of dozens

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Privacy Commissioner gives brokers more ammunition to sell cyber policies

June 6, 2018 by Jason Contant

Canada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the

News InsuranceMarkets / Coverages

Feds seek input on railroad insurance rules

June 6, 2018 by Greg Meckbach

Should Canada’s rules on railway insurance be changed? If your answer is yes, contact the Canadian Transportation Agency (CTA) within the next four months explaining why. CTA, which has the power to issue and revoke certificates of fitness for federally-regulated

News InsuranceMarkets / Coverages

Where Canada sits with overland flood insurance

June 5, 2018 by Greg Meckbach

Five years after massive flooding caused more than $4 billion in uninsured losses in Alberta, more than a dozen insurers representing about three-fourths of Canada’s property insurance market are now covering overland flood. Sixteen insurers representing 77% of the market