Topic
Risk
Holly, jolly claims follies
December 18, 2023 by David GambrillIt wouldn’t be the holiday season without someone trying to ignite their house by attaching burning candles to the Christmas tree. An internet search for “crazy Christmas claims” finds insurance broker websites rife with holiday-related claims in the neighbourhood of…
The down low on D&O risk in 2024
December 18, 2023 by Alyssa DiSabatinoClients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report. Of particular concern is inadequate responses by company directors and officers to…
Earthquakes Canada receives hundreds of reports in B.C. after 4.9 magnitude quake
December 18, 2023 The Canadian PressVICTORIA – Earthquakes Canada says a 4.9 magnitude earthquake was recorded Sunday afternoon and public reports poured in from hundreds of kilometres away from the event’s epicentre. John Cassidy, a seismologist with Natural Resources Canada, says people over a “very…
What the short-term rental crackdown means for home insurance
December 15, 2023 by David GambrillWith the federal government cracking down on short-term rentals, property and casualty insurance providers are urging clients who rent their properties short-term to contact them to verify whether or not they are covered for property damage or liability for third-party…
Transport Canada says Tesla recall will affect roughly 193,000 cars in Canada
December 14, 2023 The Canadian PressOTTAWA – Tesla’s recall over its autopilot function will affect about 193,000 vehicles in Canada. Transport Canada says Tesla will provide an over-the-air software update to fix the advanced driver assistance features. Transport Canada says the recall will be added…
4 ways ChatGPT could worsen cyber risk
December 14, 2023 by Jason ContantLanguage models like ChatGPT could be used by bad actors to re-write software code and better prepare phishing emails, a cyber specialist warned recently. The state-of-the-art language generation model is capable of understanding and generating human-like text based on a…
How Cat modelling can help your real estate clients
December 8, 2023 by David GambrillWith so many NatCats affecting the real estate property insurance sector, catastrophe (Cat) modelling is becoming a fixture for clients seeking coverage in a tightening market, a Hub International report states. “Catastrophe (CAT) modeling is…becoming essential in real estate resiliency,”…
Where the feds stand with an earthquake backstop
December 7, 2023 by David GambrillCanada’s federal government is aware of the need for a government financial backstop for earthquake losses, but the question is, will an earthquake happen before then? Panellists at Canadian Underwriter’s 2024 Economic Outlook webinar Nov. 27 were asked if there…
What Canadian risk managers earned in 2023
December 7, 2023 by Alyssa DiSabatinoCanadian risk managers earned a median annual base salary of $122,000, according to a recent Risk Management Society (RIMS) survey. This accounts for a 1.6% increase from $120,000 in 2021, when RIMS last conducted this survey. However, the salary for Canadian…
Hacker U, leaked nudes and AI: predicting 2024 cyber threats
December 5, 2023 by David GambrillHacking courses for amateurs, leaked nudes and AI-supported scams are popular cyber threats identified in dark web forums, a cybersecurity firm has warned. NordVPN is a global virtual private network (VPN) service provider founded in 2012. It establishes secure digital…
Is your board looking at their own diversity?
December 5, 2023 by Jason ContantIt’s no longer sufficient for insurance industry board members to talk about diversity across the organization — boards need to actively look at their own diversity and address any gaps, KPMG suggested in a recent thought leadership piece. “To build…
Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
December 1, 2023 Amanda Stephenson - THE CANADIAN PRESSCALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued…