Topic Emerging Risks
Why your commercial clients may be at risk of ESG legal action
March 1, 2023 by Alyssa DiSabatinoCanadian 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…
Provinces to see limited growth this year but protracted recession unlikely: Report
February 28, 2023 by Brett Bundale - THE CANADIAN PRESSCanada’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…
Do clients have a better handle on supply chain risk?
February 28, 2023 by Alyssa DiSabatinoMany 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…
Federal disaster aid program being overhauled to include climate adaptation
February 27, 2023 by Mia Rabson - THE CANADIAN PRESSOTTAWA – 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…
Alberta, Saskatchewan methane emissions almost 4 times more than reported: research
February 21, 2023 by Jason ContantNew 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,…
When will self-driving tech consistently prevent crashes?
February 17, 2023 by Harrison Griffiths and Hannah Van StaverenOne 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…
The overlooked risk for which your business clients need to plan
February 15, 2023 by David GambrillIn 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.…
Will volatile stock markets spark claims against asset managers?
February 15, 2023 by Philip PoradoSo far, wobbly stock markets aren’t sparking higher claims activity for asset managers’ liability coverages. But the kinds of investor claims that lead to complaints against money managers often lag the equity markets’ overall performance, noted Reid Irwin, practice leader…
Has Russia-Ukraine hindered insurers’ ESG plans?
February 13, 2023 by Alyssa DiSabatinoInsurers with ESG plans are still sticking to their guns to stop backing fossil fuels and thermal coal, even as geopolitical events like Russia’s Ukraine invasion put strain on the international energy sector, an industry expert told delegates at CatIQ…
Ontario’s new approach to emergency response
February 7, 2023 by Jason ContantOntario’s government will launch a ‘provincial exercise program’ to create, review and update new provincial emergency response plans and test whole-of-government emergency response, the province announced Friday. The provincial exercise program is part of Ontario’s first-ever Provincial Emergency Management Strategy…
Slowing growth a ‘good thing’ when economy is overheated: BoC’s Macklem
February 7, 2023 by Nojoud Al Mallees THE CANADIAN PRESSOTTAWA — Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. Speaking in Quebec City Tuesday, Macklem said that higher interest rates are…
Will cyber bonds help reinsurers transfer risk?
February 3, 2023 by Philip PoradoCan reinsurers transfer cyber risk to the capital markets? We may be close to finding out. Recently, two announcements about the issuing of insurance-linked securities (ILS) show there’s a potential to create a broader reinsurance source for cyber risk, said…