Canadian Underwriter

Topic Emerging Risks

Torrential rain causing flood.
News BrokersCatastrophesClaimsCommercialEmerging RisksInsurersLoss TrendsTechnology

Aviva Canada now offers parametric solution for severe rain

March 8, 2023 by David Gambrill

Aviva Canada now offers parametric excess rain coverage to help clients better cope with climate change, using a white label tech solution by Swiss-based parametric InsurTech company CelsiusPro. “We are pleased to have successfully completed the configuration and launch of

Corporate culture celebrates accomplishments, diversity and teamwork
News BrokersEmerging RisksInsurersLegalLiabilityLicensingManagementOperations

What the industry says about regulator’s draft corporate culture guidance

March 7, 2023 by David Gambrill

Canada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing

Futuristic Technology Concept: Autonomous Semi Truck with Cargo Trailer Drives at Night on the Road with Sensors Scanning Surrounding. Special Effects of Self Driving Truck Digitalizing Freeway
News CommercialCommercial AutoCyberEmerging RisksInsurersLegalLiabilityTechnology

Autonomous truck insurance questions remain

March 3, 2023 by James Menzies, Editor, Today's Trucking

A panel discussion at the Technology & Maintenance Council’s spring meeting revealed some things won’t change when it comes to insuring autonomously driven trucks. Others will. And there’s still a lot of unknowns. Some of the liability for crashes will

Fraud prevention concept
News ClaimsCommercialEmerging RisksLoss ControlTechnology

How your commercial clients are faring with fraud prevention

March 2, 2023 by Jason Contant

Three-quarters of small and medium-sized enterprises (SME) in Canada experienced fraud within the past year, even though nearly nine in 10 reported having a fraud prevention and response program in place, according to a new survey from KPMG in Canada.

Canadian $100 bills representing costs to digitize a bricks and mortar insurance brokerage
News BrokersEmerging RisksOperationsTechnology

How to digitize your old-school brokerage

March 1, 2023 by Alyssa DiSabatino

Digitizing a traditional insurance brokerage doesn’t have to break the bank, as many might believe, but the tech you pick — and how you roll it out — will make a difference to your costs. “It all depends on how

A gavel rests in a patch of grass. ESG legal action.
News BrokersClaimsCommercialEmerging RisksInsurersLegalLiability

Why your commercial clients may be at risk of ESG legal action

March 1, 2023 by Alyssa DiSabatino

Canadian law firms are preparing for an uptick in environmental, social, and governance (ESG)-related legal cases, based on the rise of such cases in the U.S., a litigator tells Canadian Underwriter. ESG lawsuits occur when a company is taken to

Possible recession in 2023
News Emerging RisksInsurersTrending

Provinces to see limited growth this year but protracted recession unlikely: Report  

February 28, 2023 by Brett Bundale - THE CANADIAN PRESS

Canada’s provinces are poised for limited economic activity and sluggish growth for the rest of the year and into 2024, but the risk of a drawn-out recession is increasingly unlikely, according to a report released Tuesday.   The latest provincial

Man hands using tablet in a supply chain warehouse
News Business InterruptionClaimsCommercialCommercial AutoEmerging RisksInsurersLoss Trends

Do clients have a better handle on supply chain risk?

February 28, 2023 by Alyssa DiSabatino

Many businesses are still recovering from supply chain disruptions that shocked them during the height of the pandemic, and 80% of firms said a lack of insurance solutions is among the greatest challenges to addressing their risks, according to a

People stranded by high water due to flooding in B.C.
News B.C.CatastrophesClaimsClaims Canada ArchiveEmerging RisksEnvironmental

Federal disaster aid program being overhauled to include climate adaptation

February 27, 2023 by Mia Rabson - THE CANADIAN PRESS

OTTAWA – Canada’s overworked disaster assistance program is being overhauled so that future projects would only be eligible for aid if they take into account the need to adapt to climate change. Emergency Preparedness Minister Bill Blair, who was in

Pump jack in Saskatchewan
News AlbertaClaimsCommercialEmerging RisksEnvironmentalLoss ControlLoss TrendsSaskatchewan

Alberta, Saskatchewan methane emissions almost 4 times more than reported: research  

February 21, 2023 by Jason Contant

New research using advanced technology suggests heavy oil facilities in Alberta and Saskatchewan are releasing almost four times the amount of a powerful greenhouse gas than they report to government.   The research, published in the journal Environmental Science and Technology,

Driver sleeping in self-driving car
News ClaimsCommercial AutoCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsPersonal AutoTechnology

When will self-driving tech consistently prevent crashes?

February 17, 2023 by Harrison Griffiths and Hannah Van Staveren

One aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier

Shark Fin above the water
News Emerging RisksManagementRisk ManagersTrending

The overlooked risk for which your business clients need to plan

February 15, 2023 by David Gambrill

In the aftermath of the pandemic, all sights are set on cybersecurity, talent acquisition and economic recession as top business risks, but companies should also focus on preparing for physical threats, says Mark Herrington of the risk intelligence firm OnSolve.