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Why Hub bought Morneau Shepell’s benefits consulting practice

March 11, 2020 by Jason Contant

Hub International’s recent acquisition of Morneau Shepell’s benefits consulting practice will allow the global brokerage to better serve the needs of both large employers and mid-market customers, the brokerage told Canadian Underwriter Tuesday. “[Morneau Shepell’s] focus on large and jumbo

News ClaimsInsuranceMarkets / Coverages

How carriers are covering travel insurance in the age of coronavirus

March 9, 2020 by Jason Contant

Carriers who offer travel insurance are taking different approaches to covering trip cancellations in the wake of the coronavirus (COVID-19) outbreak that claimed its first Canadian victim Monday. Typically, travellers with regular trip cancellation insurance with trips booked before the

News InsuranceMarkets / CoveragesTechnology

What happens when insurance, technology and healthcare collide?

March 5, 2020 by Jason Contant

The convergence of healthcare and technology could have a knock-on effect for the Canadian property and casualty insurance industry, a specialty insurer said recently. “For healthcare providers, they can largely model what the risks have been for the last 100

News ClaimsMarkets / CoveragesRisk

Cause of 2018 Enbridge gas pipeline blast revealed

March 5, 2020 Dan Healing - THE CANADIAN PRESS

CALGARY – A delayed inspection and a failure to predict how fast cracks could develop from corrosion are cited in a report describing the cause of an explosion and fire in an Enbridge Inc. natural gas pipeline northeast of Prince

News InsuranceMarkets / CoveragesRisk

Bank of Canada cuts key rate amid coronavirus concerns

March 4, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus

News BrokersCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

How to negotiate the nuanced world of email fraud coverage

March 3, 2020 by Jason Contant

Your commercial client may think they are covered for all types of business email compromise (BEC) fraud automatically, but policy triggers are often nuanced, a speaker said recently at NetDiligence’s Cyber Risk Summit in Toronto. “The biggest misconception of our

News InsuranceLegislation / RegulationMarkets / Coverages

ICBC profits should not be used to cover other government costs: NDP

March 2, 2020 The Canadian Press

VICTORIA – British Columbia’s NDP government wants to prohibit future governments from using profits earned by the province’s public auto insurer to cover other expenses. Attorney General David Eby says the government is planning to introduce legislation in the coming

News BrokersCommercial LinesInsuranceMarkets / CoveragesTechnology

How easy is it for brokers to get terms in the cyber market?

February 27, 2020 by Jason Contant

Capacity is still readily available to cover cyber risks, but more insurers are approaching the coverage cautiously, a speaker said Friday at NetDiligence’s Cyber Risk Summit in Toronto. In terms of procedure, clients’ applications for cyber coverage must clear more

News BrokersMarkets / Coverages

Top cyber concerns for Canadian business leaders

February 26, 2020 by Jason Contant

Business leaders in Canada are concerned about cyber extortion and social engineering fraud, such as business email compromise (BEC) and email account compromise (EAC), Aon reported. “The last year has seen a tremendous increase in cyber-related claims in Canada,” said

News InsuranceMarkets / Coverages

Desjardins Group reveals cost of 2019 data breach

February 26, 2020 The Canadian Press

MONTREAL – The Desjardins Group says last year’s theft of the personal data of its 4.2 million members ultimately cost the co-operative $108 million. The Quebec-based financial institution initially estimated the cost of a malicious employee’s breach – which also

News Commercial LinesInsuranceMarkets / Coverages

How IBC plans to keep insurance “affordable and available” across Canada

February 18, 2020 by Jason Contant

Following years of significant commercial insurance losses, Insurance Bureau of Canada (IBC) has launched a national task force to examine ways to help Canadian consumers mitigate risk and manage costs. The National Commercial Insurance Task Force will bring together insurers,

News InsuranceMarkets / CoveragesRisk

Ottawa eases speed restrictions imposed after Saskatchewan derailment

February 18, 2020 The Canadian Press

OTTAWA – Transport Minister Marc Garneau is easing speed restrictions placed on certain trains following a derailment in Saskatchewan earlier this month that spilled 1.2 million litres of crude oil and started a massive fire. Garneau says the move is