Specialty insurer Mosaic Insurance’s expansion across Canada in five specialty lines provides a unique hybrid underwriting model that allows the company to take a Lloyd’s syndicated approach locally in Canada, executives told Canadian Underwriter. Mosaic announced its expansion last month…
B.C.’s summer wildfires clocked in as the costliest insured event ever recorded in the province, and the tenth costliest insured event in Canada’s history, Insurance Bureau of Canada (IBC) said. Wildfires in the Okanagan and Shuswap regions of B.C. will…
Three Navacord brokerages are merging to create one of the largest commercial brokerages in Saskatchewan, the company announced Tuesday. Henderson Insurance, Hoffmann Kool Insurance, and Life Line Brokers, will merge as HK Henderson, effective Nov. 1. “The partnership creates one…
When it comes to cybersecurity in 2023, employees are usually the weakest link, ethical hackers told Canadian Underwriter. This is especially true for smaller businesses, which often have no visibility into their corporate networks, little or no budget for cybersecurity,…
Specialty insurer Mosaic Insurance has expanded its offerings across Canada in five product lines — cyber, transactional liability, financial institutions, professional liability and environmental liability. The global firm first opened an office in Toronto in July 2022 and now serves…
Coverage for high-value real estate, defined as sites worth $500 million or more, is often based as much on how those sites are used as on the physical assets themselves. Multi-use sites, where activities like manufacturing, distribution, logistics and management…
OTTAWA – The RCMP says it has introduced mandatory security awareness training for employees, one of several changes prompted by the 2019 arrest of a senior civilian member for allegedly leaking classified information. The Mounties say they have also made…
Generative AI is revolutionizing how cyber criminals enact their scams, making their targets fail to detect what would usually be obvious phishing attempts, experts shared with Canadian Underwriter. As these threats become more and more sophisticated, insureds must exercise…
Canada’s housing crisis has deepened since the start of the COVID-19 pandemic. And when office vacancy rates across Canada topped 17% in 2022 Q4, calls grew louder to convert some of that unused commercial space into residential units. What’s more,…
OTTAWA – The federal government is coping with apparent cyberattacks this week, as a hacker group in India claims it has sowed chaos in Ottawa. The Canadian Armed Forces says that its website became unavailable to mobile users midday Wednesday,…
Technology companies today can run the gamut from those resembling traditional manufacturers to others dabbling in artificial intelligence or emerging tech – which are more difficult to insure. This variety means both insurers and brokers need to thoroughly understand a…
Fraudulent funds transfer is the scam method that’s edging out ransomware when it comes to cyber claims frequency, one expert shared with Canadian Underwriter. Fraudulent funds transfers (FFT) is a method whereby cyber scammers trick a company’s employees into sending…