Canadian Underwriter

Topic Commercial

Cannabis company executives examine the goods
News CannabisClaimsCommercialEmerging RisksInsurersLegalLiability

How better boards may improve cannabis companies’ D&O options

January 6, 2023 by Philip Porado

Improvements in capacity in the directors and officers (D&O) insurance space, combined with a rising quality of boards of directors membership, is making coverage for cannabis producers and distributors more accessible. “We’ve seen a real shift in the experience levels

An offshore oil rig in the middle of the sea
News ClaimsCommercialEnvironmentalLegalLiabilityNewfoundland & Labrador

Company operating Hibernia offshore oil platform challenging oil spill charges  

January 6, 2023 by The Canadian Press

ST. JOHN’S, N.L. – The company that operates the Hibernia offshore oil platform has pleaded not guilty to three charges related to a 2019 oil spill off the east coast of Newfoundland.  Court documents confirm the Hibernia Management and Development

Tom Simoncic
News CommercialInsurersManagementProperty

Sedgwick appoints new president, property and international business

January 4, 2023 by Alyssa DiSabatino

Tom Simoncic has been appointed as president of Sedgwick’s property and international business. Simoncic joined Sedgwick through acquisition. He is currently president of property for the Americas for the last seven years and is responsible for servicing clients in Canada

Small business owner looking at inventory
News CommercialEmerging RisksHR

What 2023 looks like for your small business clients

January 4, 2023 by The Canadian Press

TORONTO – Small business owners have a slightly better outlook on the year ahead than a month ago but their short-term outlook has worsened, the latest survey results from the Canadian Federation of Independent Business (CFIB) said. The small business

Open for business sign
News CommercialCommercial AutoInsurers

Swiss Re starts 2023 with new name in Canada

January 3, 2023 by Canadian Underwriter Staff

A new year, a new name. Swiss Re Corporate Solutions received regulatory approval from the Office of the Superintendent of Financial Institutions (OSFI) to establish a Canadian branch of Swiss Re Corporate Solutions America Insurance Corporation (SRCSAIC). The new branch

Silvy Wright Northbridge
News ClaimsCommercialTechnology

2023 Executive Outlook | Silvy Wright, Northbridge Financial Corporation

December 29, 2022 by David Gambrill

Silvy Wright, president, CEO, Northbridge Financial Corporation The insurance industry faces several headwinds in 2023. Some, like climate change, have been on our radar for some time. Others, such as inflation, have emerged more recently. We will always face challenges;

People walking through snow in downtown Vancouver
News B.C.CommercialInsurersPersonal HomeProperty

B.C. flooding potential persists, despite end of official warnings

December 28, 2022 by Canadian Press

VANCOUVER –  No weather warnings or watches were posted across British Columbia for the first time in weeks, but Environment Canada says more heavy rain is on the way while flood watches are still up for large parts of Vancouver Island

Shot of queue of passengers waiting at boarding gate at airport. Group of people standing in queue to board airplane.
News B.C.ClaimsCommercial

Expect claims from snow-fuelled Vancouver airport travel chaos

December 21, 2022 by Amy Smart - THE CANADIAN PRESS, with files from Canadian Underwriter Staff

Insurers can expect this week’s wave of flight cancellations and delays at Vancouver International Airport to result in claims activity. “Certainly, travel insurance will be hit with delay coverage, baggage issues as people need a toothbrush and change of clothes,

Sobeys experienced a cyberattack in November.
News ClaimsCommercialCyberTechnology

Sobeys parent company says cyberattack expected to cost $25M after insurance

December 19, 2022 by Brett Bundale - THE CANADIAN PRESS

Sobeys parent company Empire Co. Ltd. has shared new details on a cyberattack that shut down its pharmacy services and other in-store functions last month. The security breach in early November left customers unable to fill prescriptions for four days,

Gavel, law book and Canadian flag
News ClaimsCommercialCommercial AutoConstructionCyberEmerging RisksInsurersLegalLiabilityProperty

Are product liability insurers ready to face mass torts?

December 13, 2022 by Philip Porado

Class action lawsuits have long been drivers of social inflation for insurers that provide product liability overage. But now a new legal vehicle, the ‘mass tort,’ looks to be waiting in the wings. Unlike class actions, in which one plaintiff

Busy businessman working in the office
News CommercialHRMGAsOperations

How MGAs are dealing with underwriter shortages

December 12, 2022 by Jason Contant

Canadian P&C managing general agencies (MGAs) are dealing with a lack of underwriters due to increased demand for products and services combined with traditional staff turnover, an industry executive told Canadian Underwriter. “MGAs are, from what we see, the fastest

Hacker attack and data breach concept
News ClaimsCommercialCyberOntarioTechnology

Information of 360,000 people affected in Ontario COVID-19 vaccine data breach

December 12, 2022 by The Canadian Press

TORONTO – The Ontario government began notifying about 360,000 people on Friday that their personal information had been part of a COVID-19 vaccine database breach that took place more than a year ago. The breach happened on Nov. 16, 2021