Topic
Risk
One broker’s bold prediction about contactless payment options
September 21, 2020 by Greg MeckbachConcerns over the risk of COVID-19 transmission could accelerate the changes that technology has been bringing to financial transactions, including contactless payment options, a commercial broker suggests. “Financial services are changing very quickly,” said Mark Morency, senior vice president and…
How Northbridge is advising clients to prepare for second COVID-19 wave
September 18, 2020 by Greg MeckbachOne key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that…
What’s driving D&O rate increases for privately-held firms
September 11, 2020 by Greg MeckbachLawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under…
Canadian government named in class-action privacy breach lawsuit
September 3, 2020 by Greg MeckbachThe federal government is facing a proposed class-action lawsuit over data breaches earlier this year affecting thousands of users of online service users. Criminals were able to get the user names and passwords of 9,041 users of GCKey, the federal…
What brokers can do more of to help their clients protect against flood risk
August 27, 2020 by David GambrillCanadians understand that flood damage has increased, but they don’t necessarily know to protect their homes against it, according to joint research conducted by RSA Canada and World Wildlife Fund (WWF) Canada. The research suggests an opportunity for Canadian P&C…
The impact of MGAs getting more business
August 25, 2020 by Greg MeckbachIt is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now…
What an insurance solution for pandemic risk might look like
August 17, 2020 by Jason ContantThe P&C insurance industry has technical expertise it could bring to bear in covering future pandemics (risk management and claims adjustment experience, for example), but the financial losses would best be covered through public-private partnerships, speakers said recently during an…
Canada Revenue Agency suspends online services after cyberattacks
August 17, 2020 Lee Berthiaume - THE CANADIAN PRESSOTTAWA – The Canada Revenue Agency has temporarily suspended its online services after two cyberattacks in which hackers used thousands of stolen usernames and passwords to fraudulently obtain government services and compromise Canadians’ personal information. A total of 5,500 CRA…
Toronto strip club employee may have exposed up to 550 to COVID-19: officials
August 14, 2020 Jake Kivanc - THE CANADIAN PRESSTORONTO – A Toronto strip club where as many as 550 people may have been exposed to COVID-19 last week was not following public health guidelines, officials said Friday. Toronto Public Health said the Brass Rail strip club in the…
Ford recalls more than 60,000 vehicles in Canada due to safety issues
August 13, 2020 The Canadian PressOAKVILLE, Ont. – Ford has issued two recalls affecting 63,367 vehicles in Canada, citing safety issues with the brakes and coil spring. The largest recall covers 62,876 Ford Edge vehicles with 2015 through 2018 model years, and Lincoln MKX vehicles…
Forest fire continues to grow near town in northwestern Ontario
August 12, 2020 The Canadian PressRED LAKE, Ont. – Residents of Red Lake, Ont., continue to flee the community as a nearby wildfire continues to grow. A spokesman for provincial Ministry of the Solicitor General says aircraft are available to help with evacuations, and about…
Hot Lines
August 10, 2020 Greg Meckbach, Associate EditorA surge in directors and officers liability claims, withdrawal of some carriers from hospitality and high-profile cyberattacks are among the big trends now in commercial specialty