Topic
Markets / Coverages
New Canadian water product covers service line damage
March 9, 2018 by Jason ContantAllstate Insurance Company of Canada has launched a water protection package that “differentiates itself from others on the market” by offering service line coverage as well as sewer backup, overland water and sewer backup mitigation coverage. On Thursday, Allstate Canada…
Aviva combines multiple business segments into one commercial policy
March 6, 2018 by Jason ContantAviva Canada has launched a new commercial product that allows a company’s different business operations to be included on one policy. This consolidation is intended to make it easier for brokers to offer limits and extensions for different segments. In…
ICBC to remodel system to reward low-risk drivers
March 6, 2018 Dirk Meissner - THE CANADIAN PRESSVICTORIA – Major shifts in direction are being considered to ensure good drivers in British Columbia receive lower insurance rates, says the minister responsible for the province’s public auto insurer. David Eby said the government introduced an online survey Monday…
XL Catlin Canada part of AXA’s $15.3-billion acquisition of XL Group
March 5, 2018 by David GambrillThe AXA Group, based in France, has entered into a $15.3-billion agreement to acquire 100% of XL Group Ltd., which includes Canadian subsidiary XL Catlin Canada. The merger agreement, expected to close in the second half of 2018, has been…
Comparing insurance contracts? How AI can help expedite the process
March 5, 2018 by Jason ContantGlobal reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm…
For how long will a ransomware attack knock out your client’s operations?
March 5, 2018 by Jason ContantCompanies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is…
Province working on technology to ease damage in flood season
March 5, 2018 Kevin Bissett - THE CANADIAN PRESSFREDERICTON – Flood forecasters in New Brunswick are using new technology to track snow loads and ice movement, hoping more information leads to less damage. Jasmin Boisvert, a water services specialist with the Department of Environment and Local Government, says…
Inconvenience: the new standard for certifying privacy breach class actions?
February 28, 2018 by Jason ContantJudges in class action lawsuits involving privacy breaches are going to become “more accepting of the notion that you can get money for your inconvenience,” a lawyer said on Friday at NetDiligence’s Cyber Risk Summit in Toronto. Eric Dolden, a…
Trial begins over fuel spill in Vancouver harbour
February 28, 2018 Linda Givetash - THE CANADIAN PRESSVANCOUVER – A port worker says he suspected large plumes of oil that were shining on the surface of the water in Vancouver’s harbour nearly three years ago was bunker fuel, based on the smell. A B.C. provincial court judge…
Canada’s future M&A battleground: tech acquisitions
February 27, 2018 by Jason ContantNatural resource industries still drive most Canadian mergers and acquisitions, but the financial services, technology and consumer industries are also expected to see a lot of M&A activity as the economy evolves, according to a new report. And one important…
How cyberattacks can sabotage the plants of your industrial clients
February 27, 2018 by Jason ContantIndustrial control systems (ICS) at manufacturing plants are perfect targets for cybercriminals because they are not designed with security in mind, Zurich Canada’s head of specialty products, Greg Irvine, said recently. Speaking at NetDiligence’s Cyber Risk Summit in Toronto on…
Feds tighten tax rules for small businesses and passive income in budget
February 27, 2018 Craig Wong - THE CANADIAN PRESSOTTAWA – The Liberal government moved to tighten the tax rules for small businesses in the federal budget Tuesday as it fine-tuned the changes that prompted an uproar last year. However, Finance Minister Bill Morneau still faces the challenge of…