Topic Commercial
Transportation Safety Board probes tour boat sinking on Haida Gwaii
September 28, 2022 by The Canadian PressRICHMOND, B.C. – The Transportation Safety Board has sent a team to British Columbia’s north coast to probe the sinking of a tour boat in Haida Gwaii. A statement from the safety board says the team of investigators has been…
What claims adjusters are seeing from Fiona
September 28, 2022 by Jason ContantClaims adjusters are seeing a wide variety of personal and commercial lines claims in the wake of post-tropical storm Fiona – everything from food spoilage and infrastructure claims to total losses. “Currently, we are seeing claims for personal and commercial…
Which firm racked up 8 mergers over the summer?
September 28, 2022 by Canadian Underwriter StaffBrokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in…
What your commercial clients forget to do after a cyber breach
September 27, 2022 by Alyssa DiSabatinoCommercial clients who suffered a cyber data breach may be inclined to quickly pay the ransom and get back on their feet, but brokers should advise their clients not to forget about post-breach communication with their customers and employees. If…
Environment commitments not met by Canada’s oil and gas companies, new report shows
September 26, 2022 by Caitlin Yardley - THE CANADIAN PRESSMost of Canada’s oilsands producers have made little progress on their goal to decarbonize the sector despite historically high profits and low capital expenditures, a new report said. A report from the Pembina Institute said little has been done by…
How to ensure your clients’ property values are accurate amid volatility
September 26, 2022 by Alyssa Di SabatinoInaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported…
How rising interest rates impact insurers’ investment decisions
September 23, 2022 by Philip PoradoRecent interest rate hikes aimed at curbing inflation, and the potential for more rate hikes next year, has the insurance industry keeping an eye on its investment returns. But while the transition from a low-interest-rate environment to a higher-rate environment…
Why insurers are rethinking coverage for older machinery
September 22, 2022 by Alyssa DiSabatinoAging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and…
Climate change effect on public transportation infrastructure to cost billions: financial watchdog
September 22, 2022 by The Canadian PressTORONTO – Ontario’s financial watchdog says the effects of climate change are projected to cost the province an extra $1.5 billion a year on average in the next few years just to maintain public transportation infrastructure. A report released today…
Who is putting your client’s company at risk for a cyber scam?
September 22, 2022 by Alyssa DiSabatinoTwo-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance…
How to message the hard market going forward
September 21, 2022 by David GambrillProfitable insurance companies mean stable and reliable protection for insureds during a time of uncertainty, and the property and casualty insurance industry in Canada should not be shy about reinforcing this message, industry execs told the NICC Conference in Halifax…
Cannabis producer says B.C. strike, cyberattack could cause $3 million revenue loss
September 21, 2022 by Tara Deschamps - THE CANADIAN PRESSAurora Cannabis Inc. says it could take a revenue hit of up to $3 million because of a cyberattack that downed Ontario’s pot distributor and a strike that halted deliveries to B.C. marijuana stores. Glen Ibbott, the Edmonton-based cannabis company’s…