Topic
Risk
Grapes of wrath: How the wildfires could burn your winery clients
August 25, 2023 by Alyssa DiSabatinoAs wildfires rage across Canada, wineries might struggle to keep smoke from tainting their crops. Such was the case for wineries operating in and around southern Oregon in 2020, said Heidi Moore, insurance agent for U.S-based Country Financial and host…
What the Nova Scotia floods cost insurers
August 24, 2023 by Alyssa DiSabatinoA flood and rainstorm event that hit Nova Scotia in July is estimated to have caused over $170 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The atmospheric river event dropped more than…
Almost 60 buildings lost to wildfire in Kelowna, B.C., area, fire chiefs say
August 22, 2023 Dirk Meissner The Canadian PressA West Kelowna man says he is still in shock after the wildfire tearing through the region burned down his condo and forced him and his eight-months-pregnant wife to evacuate twice in one night. Randy Miskuski said his family had…
Ontario adjudicator, Aviva targets of “conflict-of-interest” complaints
August 18, 2023 by Alyssa DiSabatinoThe Ontario Trial Lawyers Association (OTLA) filed formal complaints this month against Aviva Canada and Licence Appeal Tribunal (LAT) adjudicator Thérèse Reilly, alleging the adjudicator was in a “conflict of interest” when she continued adjudicating LAT tribunal panels in insurance…
Ongoing heat over southern B.C. topples records, sets table for added wildfire woes
August 15, 2023 The Canadian PressVANCOUVER – The ten hottest communities in Canada were all located in British Columbia on Monday and forecasters expect the sizzling temperatures will continue for at least a few more days across the province’s Interior. The Fraser Canyon communities of…
What will help reduce farm fire severity?
August 15, 2023 by Jason ContantThe severity of fire losses in the agricultural sector is increasing as Canadian farms get bigger in size and value, but technologies are available to help reduce the frequency of that severity, a farm insurance expert told Canadian Underwriter. In…
Hub privacy breach affects “limited” amount of Canadian data
August 11, 2023 by David GambrillHub International Limited, a Chicago-based brokerage with offices in 10 Canadian provinces and territories, has reported a privacy breach of data related to “a limited number of Canadians.” Hub posted a “notice of a data privacy event” online on Friday,…
Would a government ban of ransomware work?
August 8, 2023 by David GambrillIn the United States, the White House has floated the idea of a total ban on ransomware payments, a move that could change the role of a company’s chief information and security officer (CISO), says one expert on corporate information…
How much shareholder value drops after a cyber breach
August 2, 2023 by Alyssa DiSabatinoMajor cyber incidents disrupt more than a corporation’s operations. Shareholder value, a key measure of a company’s financial health, was shown to fall an average 9% in the year following an event, a recent Aon report showed. With that, C-suite clients…
Financial burden of cybercrime in Canada remains high: IBM report
July 24, 2023 Amanda Stephenson - THE CANADIAN PRESSCALGARY – Increased corporate awareness and a string of high-profile incidents have done little to reduce the financial burden of cybercrime in Canada, according to a new report. The average cost to companies of a cybersecurity breach in Canada as…
Fight for funding to protect land link between N.S. and N.B. goes to court
July 21, 2023 The Canadian PressHALIFAX – The Nova Scotia government is asking the province’s Court of Appeal to determine who has jurisdiction over the works that protect a vital link between the province and New Brunswick. In a court document filed Wednesday, lawyers for…
Canada’s wildfires: Is industry concerned about lack of firefighters?
July 21, 2023 by Jason ContantWith Canada’s record-breaking fire season continuing to burn hot, firefighter availability and the country’s system of sharing resources is stretched thin. For Canada’s P&C insurance industry, the overall lack of firefighters is a concern, given the sheer number of fires…