Topic Supply Chain
Ford recalls vehicles including nearly 3,000 SUVs in Canada over fire risk
May 20, 2022 by The Associated PressDETROIT – Ford has issued three recalls of more than 350,000 vehicles in North America, including nearly 3,000 in Canada and 39,000 in the U.S. due to a risk the engines could catch fire. Transport Canada said in a recall…
Inflation rate up slightly in April to 6.8 per cent: Statistics Canada
May 18, 2022 by The Canadian PressOTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared…
Could the P&C industry have anticipated current supply chain issues?
May 9, 2022 by Alyssa DiSabatinoPandemic-related supply chain interruptions have been contributing factors to rising commercial client exposures, and this outcome could have been anticipated, say panellists in a Canadian Underwriter webinar. “When you think about firms who have offshored, whether it be processing, or…
Proposal to end real estate bidding wars could affect P&C insurers
April 19, 2022 by Philip PoradoCracking down on factors contributing to home-price escalation is a major component of the Apr. 7 federal budget document. If successful, they could affect insurers’ ability to control reconstruction costs and other claims impacts for their insureds. Proposed budget actions…
Key challenges facing your construction industry clients
April 6, 2022 by Jason ContantAn ongoing labour shortage, exacerbated by the COVID-19 pandemic, is one of the key issues facing the construction industry in general, says the head of risk control with Travelers Canada. “I think the biggest prolonged challenge that comes around, seems…
Businesses bracing for high inflation to stick around over next two years: survey
April 4, 2022 by Adena Ali - THE CANADIAN PRESSThe Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook…
Manufacturers look to budget for help on supply chain problems, domestic production
April 1, 2022 by Jordan Press - THE CANADIAN PRESSOTTAWA – The federal Liberals are being asked to muscle space in next week’s budget to help Canada become more productive, and lay investments to lure new companies as part of a push to simplify pandemic-strained supply chains. For years,…
Ratings agency suspends commercial activities in Russia
March 30, 2022 by Philip PoradoGetting ahead of a European Union-imposed Apr. 15 sanctions deadline, a major global credit ratings agency specializing in the insurance industry has suspended all commercial activities in Russia. AM Best said it’s also withdrawn all credit ratings on reinsurance companies…
How war in Ukraine may impact business loss claims
March 25, 2022 by Philip PoradoCanada’s insurers are in a bit of a holding pattern about how war in Ukraine may drive claims activity among businesses with ties to the region. Canadian Underwriter contacted numerous insurers and the consensus on any changes to claims and…
Bank of Canada says near-term inflation higher amid Ukraine war
March 25, 2022 by The Canadian PressOTTAWA – The Russian invasion of Ukraine is adding to inflationary pressures around the world and in Canada, a senior Bank of Canada official said Friday. In a speech by webcast to a conference at the U.S. Federal Reserve Bank…
Container ship the size of two football fields adrift off N.L., says coast guard
March 10, 2022 by The Canadian PressST. JOHN’S, N.L. – The Canadian Coast Guard says a container ship the length of two football fields is adrift off the west coast of Newfoundland. The agency said in an email Wednesday the 265-metre-long MSC Kim reported engine problems…
How supply chain back-ups are contributing to cargo theft
March 9, 2022 by Jason ContantSupply chain disruptions and back-ups due to COVID-19 and other factors (such as a shortage of drivers or trucks to deliver product) are contributing to concerns around cargo theft, a transportation industry expert says. “When you have more [cargo] that’s…