Topic Emerging Risks
How P&C insurers are using their muscle to reduce carbon
June 2, 2021 by David GambrillGlobal P&C insurers are not only setting ambitious carbon reduction targets for themselves, but they are also using their investment clout to restrict cover for high polluters in the oil and gas sectors, a commentary released by DBRS Morningstar Wednesday…
How video conferencing misbehaviour creates commercial liability risk
June 1, 2021 by Greg MeckbachInappropriate behaviour during video conferences can lead to employment practices liability claims, an expert with The Travelers Companies Inc. warns. New York City-based Travelers is observing “Zoom etiquette claims,” said the insurer’s employment practices liability product manager, Chris Williams, during…
Pressure from investors isn’t the only reason insurers are exiting from fossil fuels
June 1, 2021 by Jason ContantMany insurers and reinsurers are considering or actively transitioning away from insuring fossil fuel companies as pressure mounts from investors and clients over environmental, social and governance (ESG) practices. “But pressure from end investors isn’t the whole story,” Tom Johansmeyer,…
Businesses at high risk in pandemic’s final days as subsidies fade, reopening delayed
June 1, 2021 by Brett Bundale - THE CANADIAN PRESSHALIFAX – Lisa Drader-Murphy opened her first store in 1997 with $250 in the bank. Over more than two decades, the Canadian fashion designer built her luxury clothing brand debt-free by reinvesting her earnings back into the business. “I was…
Should insurers (and others) be banned from making cyber ransom payments?
May 30, 2021 by David GambrillEditor’s Note: A previous verison of this article incorrectly stated that a cyberattack against AXA had happened after AXA’s announcement that it was suspecnding insurance coverage in France for ransomeware extortion payments. In fact, as per a Financial Times report…
Fracking likely to create stronger, more common earthquakes in B.C., study says
May 26, 2021 by Bob Weber - THE CANADIAN PRESSMore damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,…
How the pandemic has shifted employers’ priorities ‘overnight’
May 25, 2021 by Jason ContantMore than one year into the COVID-19 pandemic, there has been a massive, “overnight” shift in employers’ appetite towards employee benefits plans, Hub International speakers said during a recent webinar. “There’s a fast movement towards wellness, virtual services, virtual health…
Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers
May 20, 2021 by The Canadian PressCALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of…
People analytics: How you can use employee data for internal hires
May 19, 2021 by Jason ContantWhen acquiring talent, organizations should consider using employee data to glean insights into the best internal hires for their teams, one tech vendor suggests. There has been some debate within the Canadian P&C industry about whether to look outside the…
Coverage that you should be discussing with your commercial clients
May 17, 2021 by Adam MalikBrokers exploring new ways to protect their commercial clients should be making “malicious attack” coverage part of the conversation, a risk expert advises. But it can be a tricky conversation for brokers to have. Clients may think they can’t afford…
Why wildfire is moving into ‘peak peril’ range
May 14, 2021 by Jason ContantWildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting…
A cybercriminal hijacks an autonomous vehicle. Who’s responsible for a crash?
May 12, 2021 by Adam MalikVehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about…