Topic
Risk
Why near-misses may hold the key to improved road safety
February 6, 2020 by Jason ContantA startup based in Winnipeg is using near-miss data from intersections in an attempt to proactively, rather than reactively, help reduce traffic fatalities. “Up until now, traffic engineers have focused on using historical crash data that involve a fatality to…
Industry to see single entity for anti-fraud services
February 6, 2020 by Jason ContantCanada’s national trade organization for private insurers has combined forces with a not-for profit organization to transition anti-fraud services into a single entity. Insurance Bureau of Canada’s (IBC) board of directors said in a press release Monday it has agreed…
Transportation minister orders speed restrictions after fiery derailment
February 6, 2020 The Canadian PressGUERNSEY, Sask. – Transportation Minister Marc Garneau has announced speed restrictions on trains carrying dangerous goods after a derailment in Saskatchewan caused a dozen tankers carrying crude oil to catch fire. Garneau says the ministerial order will come into effect…
Will heavy precipitation in the U.S. lead to flooding in Manitoba?
February 5, 2020 The Canadian PressWINNIPEG – Heavy precipitation in the United States is adding to concerns about potential flooding this spring in Manitoba. A report from the Manitoba government says precipitation amounts in the U.S. portions of the Red and Souris rivers since November…
Brokers urged to help their commercial clients using these traditional, proven risk assessment tools
February 4, 2020 by David GambrillIn addition to using modern data analytics, commercial brokers can use traditional, proven risk assessment tools to help business clients understand and cope with price increases in today’s hard market, says a veteran of three hard markets. Inspections have been…
Light earthquakes recorded around Newfoundland and Labrador
February 4, 2020 The Canadian PressST. JOHN’S, N.L. – A number of light earthquakes have been recorded around Newfoundland and Labrador over the last week, according to Earthquakes Canada. At approximately 2 p.m. local time on Monday, a magnitude 4.3 earthquake was registered in coastal…
This is how much severe weather claims could cost in 10 years
February 3, 2020 by Jason ContantLarge losses will become larger, and the average annual severe weather claims paid by insurers in Canada could more than double over the next 10 years, according to a new report from the Insurance Institute of Canada. Since 2013, severe…
How to sell cyber
February 2, 2020 Jason Contant, Online EditorJames Burns, cyber product leader with CFC Underwriting, shares his insights on what the industry needs to do to sell more cyber insurance policies. cu | How do successful brokers sell cyber insurance? They make cyber products relevant to the…
Could a politician’s tweet void your cyber coverage?
January 31, 2020 by Greg MeckbachIf you are placing commercial cyber coverage, pay attention to what the various insurers’ policies say about war and terrorism, a commercial broker advises. “I would not say it’s an obscure little corner of your insurance policy,” Tom Srail, executive…
How not to handle E&O liability as a broker
January 31, 2020 by Jason ContantBrokers obviously want to protect themselves from errors’ and omissions’ liability. So why not get a client to sign a hold harmless agreement? In effect, a hold harmless agreement removes liability from one party in a business relationship (in this…
Is the ‘awesome time’ for cyber clients coming to an end?
January 30, 2020 by Greg MeckbachRisk managers accustomed to a buyer’s market for commercial cyber insurance might discover soon the party is over. “We are starting to see rates harden,” Lindsey Nelson, U.K. and International Cyber Team Leader for CFC Underwriting, said Thursday. She was…
Can the Novel Coronavirus illness trigger P&C policy coverage?
January 30, 2020 by David GambrillNews of three documented Canadian cases of 2019 Novel Coronovirus (or 2019-nCoV) has spread like wildfire, and several legal commentators and risk managers are now issuing alerts containing steps to reduce the likelihood of people contracting the pneumonia-like symptoms in…