Topic
Risk
Why us? P&C industry responds to new foreign interference rules
October 5, 2023 by David GambrillJust when you thought it was safe to return to underwriting property and casualty (P&C) insurance risk, OSFI has new marching orders from Parliament to provide guidance on foreign interference in financial institutions, prompting yet another round of consultations with…
Brokers: Is your client’s dog “friendly?”
September 25, 2023 by David GambrillWhen two dog owners pass each other while walking their dogs, it is common to hear one ask of the other’s dog, “Friendly?” Perhaps that’s what personal lines home insurance brokers should be asking their dog-owning clients, since lawsuits against…
How well the industry protects policyholders against insolvency
September 22, 2023 by Jason ContantCanada’s P&C insurance industry compensation fund will almost entirely protect both personal and commercial lines policyholders in the event of an insurer insolvency, a comprehensive review of coverage and benefits has found. Should an insurer member of the Property and…
How brokers can keep clients’ data secure when working remotely
September 21, 2023 by Alyssa DiSabatinoBrokers may be at risk of unintentionally exposing client data or other proprietary information when they’re not working from the office. But with much of the industry doing hybrid or remote work — and showing reluctance to return to the…
Why captives will stick around after a hard market
September 20, 2023 by Alyssa DiSabatinoCanada’s P&C insurance industry is showing signs of market softening in some lines, but captives remain a viable option for commercial clients — particularly in fledgling tech industries such as cryptocurrency. Alternative risk transfer solutions have merit even when hard…
B.C. to introduce new disaster management laws to address preparedness, mitigation
September 20, 2023 The Canadian PressVANCOUVER – British Columbia’s emergency management minister said the province will be ready to introduce “in the coming weeks” new laws to govern responses to increasingly frequent natural disasters such as wildfires and flooding. Bowinn Ma told a gathering at…
Forever chemicals: Is PFAS litigation coming to Canada?
September 19, 2023 by Alyssa DiSabatinoPer- and polyfluoroalkyl substances (PFAS) are the subject of a rising number of lawsuits in the U.S., and the industry can expect litigation to seep into Canada, says a risk professional. Also known as ‘forever chemicals,’ PFAS are a…
Veteran risk manager receives RIMS top honour
September 15, 2023 by Alyssa DiSabatinoCatherine Dowdall, director of insurance and loss control at AECON Construction, has received the Donald M. Stuart Award, the highest honour for Canada’s risk management field. The award was presented in Ottawa Sept. 12 at the RIMS Canada Conference,…
Feds predict parts of Canada could see wildfires through winter
September 7, 2023 The Canadian PressOTTAWA – The latest federal government forecast says Canada’s already unprecedented 2023 wildfire season could continue late into the fall or winter. Energy and Natural Resources Minister Jonathan Wilkinson says there is potential for increased wildland fire activity from eastern…
Hurricane Lee: Why the Canadian P&C industry is watching
September 7, 2023 by David GambrillHurricane Lee is strengthening into a powerhouse Category 5 storm, and some preliminary scenarios suggest it could hit Atlantic Canada as a tropical storm sometime next week, AccuWeather is forecasting. “Lee poses a risk to people from the northern Caribbean…
Canada ‘trailing partners’ on securing vital utilities and services: internal memo
September 5, 2023 Jim Bronskill - THE CANADIAN PRESSOTTAWA – A newly released federal memo concedes Canada is “trailing key international partners” who have updated their approaches to securing vital utilities and services from a growing array of risks. The Public Safety Canada memo says “new and rapidly…
Fire activity expected to kick up in N.W.T., Mounties warn against re-entering
September 1, 2023 The Canadian PressYELLOWKNIFE – Fire activity along a key Northwest Territories highway is expected to kick up in the coming days, while Mounties say they’ll stop a potentially large group from trying to re-enter when an evacuation order is still in effect.…