Canadian Underwriter

Topic Emerging Risks

News Emerging RisksOntarioPersonal Home

Phasing out gas generation by 2030 would lead to blackouts, higher bills, report says

October 7, 2021 by The Canadian Press

TORONTO – Ontario’s electricity system operator says phasing out natural gas generation by 2030 would result in rotating blackouts and higher electricity bills. The Independent Electricity System Operator examined the idea after 31 municipal councils in the province called for

News CommercialCyberEmerging RisksTechnology

Here are your security blindspots in the new hybrid workplace

October 5, 2021 by Jason Contant

The hybrid workplace increases your client’s cyber risk exposure, as cybercriminals have spotted new opportunities with a distributed workforce and are determined to exploit soft spots associated with remote work, HP suggests. According to the HP Wolf Security Blurred Lines

News CommercialCyberEmerging RisksInsurersLiabilityMGAsOperationsRisk Managers

Canadian cyber MGA looking for carrier partners for international expansion

October 5, 2021 by Greg Meckbach

Canadian managing general agent BOXX Insurance Inc. is about to set up an office in Miami and is looking for carriers to underwrite its cyber coverages outside of Canada. Toronto-based BOXX announced last week it is expanding to the United

News Business InterruptionCommercialCyberEmerging RisksTechnology

Will cyber insurance rates double in the next couple years?

October 4, 2021 by Jason Contant

Prices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate

News Emerging RisksEnvironmentalTechnology

Regulator expects more frequent volatility in financial sector

September 30, 2021 by Ian Bickis - THE CANADIAN PRESS

TORONTO – The head of Canada’s banking regulator warned Wednesday of the potential for increased volatility in the global financial system as risks, especially around climate change and digital finances, are on the rise. “My new responsibility requires that I

News ClaimsEmerging RisksInsurersLoss ControlLoss Trends

Is it time for a larger insolvency fund for Canadian P&C insurers?

September 28, 2021 by Jason Contant

Canada’s Property and Casualty Insurance Compensation Corporation (PACICC) is considering whether it needs to increase the size of its compensation fund in the event of a P&C insurer failure. PACICC’s board has asked management to complete a formal review of

Businessman Standing At Edge Of Cliff
News ClaimsCommercialCyberEmerging RisksMGAsSupply ChainTechnology

Which cyber risks lurk on the horizon?

September 23, 2021 by Canadian Underwriter Staff

As brokers grapple with an evolving cyber insurance market, one managing general agent is looking ahead to help the industry keep pace. George Bozanin, managing partner and head of business development with Coalition Insurance Canada, told Canadian Underwriter the post-pandemic

News B.C.CatastrophesEmerging RisksEnvironmental

Wildfire and flood disasters are causing ‘climate migration’ within Canada

September 22, 2021 by The Canadian Press - THE CONVERSATION

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. ___ Author: Yvonne Su, Assistant Professor in the Department of Equity

drone in warehouse
News BrokersCommercialCyberEmerging RisksLiability

Eyes in the sky: coverage for drone usage

September 21, 2021 by Brooke Smith

Unmanned aerial vehicles (UAVs) — known commonly as drones — were originally a tool solely for the military. Now they’re used regularly for civilian purposes such as photography, monitoring traffic and fighting fires, said Janarthan Sivarajah, senior new business manager,

News ClaimsCommercialCyberEmerging RisksTechnology

Pandemic leading to ‘ticking time bomb’ for cybersecurity

September 17, 2021 by Jason Contant

Most IT teams believe that working from home has become a “ticking time bomb” that might lead to a corporate network breach, according to a recent survey from HP Inc. The HP Wolf Security Rebellions & Rejections report, released Sept.

News B.C.CatastrophesClaimsEmerging RisksOntarioQuebec

Contrary to popular belief, Eastern Canada is more at risk of earthquakes than perceived

September 16, 2021 by The Canadian Press

By Jeremy Rimando, Postdoctoral Research Fellow, Structural Geology and Tectonics, McMaster University and Alexander Lewis Peace, Assistant Professor (Structural Geology), McMaster University – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news,

News CyberEmerging RisksHRTechnology

Is your IT team compromising security for business continuity?

September 13, 2021 by Jason Contant

A vast majority (91%) of IT teams surveyed across Canada and other countries felt pressure to compromise security for business continuity, admitting that security took a backseat to business continuity during the pandemic, a new report from HP Inc. reveals.