When pricing property coverage in the future, it’s time for the industry to ask itself: “How are we going to deal with changes in weather?” Historically, insurance products have been priced based on data and loss history, observes Ernest Mashingaidze,…

Policies that don’t specifically include or exclude cyber losses (“silent cyber”) have long been a concern of insurers, but you’d think a data breach loss would be covered by a cyber policy, right? Not always. The devil is sometimes in…

Here is a textbook example of how your cyber clients should not be managing their risks, according to Alberta’ auditor general. The province’s auditor red-flagged the example of Travel Alberta Corporation, a provincial agency that moved most of its software…

Lifemark Health Group (LHG) has acquired AssessMed, an independent medical examination services provider for auto insurers, as part of its strategy to diversify its medical assessment services across Canada. In particular, the acquisition allows LHG to broaden its assessment expertise…

Gone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the…

LANIGAN, Sask. – Saskatchewan’s public safety agency says crews are working in frigid temperatures as they continue to battle a fire that started when a freight train carrying crude oil derailed. The province says crews are taking precautions as Environment…

The British Columbia Court of Appeal has ruled against an insurer in finding the parent company of a restaurant intentionally set on fire is not liable. In Austeville Properties Ltd. v. Josan, a ruling in a subrogated $3-million claim released…

Heavy precipitation that fell across central and eastern Canada as kids were out trick-or-treating was part of a storm system that caused over $250 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ). Quebec was the hardest-hit…

HALIFAX – More than 50,000 homes and businesses were temporarily without electricity across the Maritimes on Tuesday morning as a powerful rain storm downed power lines, damaged buildings and forced the closure of some schools and businesses. The storm moved…

Are Ontario municipalities another victim of the hardening market? “A lot of municipalities are facing increased premiums or difficulty with obtaining insurance,” said Pino Cianfarani, partner at Lerners LLP, speaking at Insurance Bureau of Canada’s (IBC) Commercial Insurance Symposium Nov.…

When do the terms of a surety bond allow a construction project owner to withhold payments to a contractor? This question could go to the Supreme Court of Canada, which recently announced a federal crown corporation wants to appeal a…

LANIGAN, Canada – A Canadian Pacific freight train hauling crude derailed overnight sparking a fire that forced the closure of part of a major highway south of Humboldt, Sask. A release issued by the RCMP said traffic on Highway 16…