Topic Emerging Risks
Bank economists see mild recession likely ahead despite surprising resilience
January 13, 2023 by The Canadian PressTORONTO – Big bank economists say the surprisingly resilient economy is likely headed for a mild slowdown in the year ahead, but that recent events show how difficult it is to predict the future. Speaking at an Economic Club of…
Hard market “fatigue” setting in, P&C industry survey suggests
January 12, 2023 by David GambrillHard market fatigue is starting to become an issue for Canada’s property and casualty insurance industry, and several industry professionals are worried ongoing capacity and pricing issues could invite government intervention down the road. “We will continue to have many…
“Perfect storm”: How Canada’s P&C insurance industry feels about 2023
January 11, 2023 by David GambrillCanada’s property and casualty insurance industry may not be facing its “toughest” year ever in 2023, but more than 89% of industry professionals agree the multitude of issues facing the industry at once is creating a “perfect storm.” “Every year…
City uncovers another decades-old leak dumping sewage into Lake Ontario
January 10, 2023 by The Canadian PressHAMILTON – The City of Hamilton says it has uncovered another sewage leak that has been dumping waste into Lake Ontario for more than two decades. The revelation comes after the city reported in November that a leak discovered to…
How better boards may improve cannabis companies’ D&O options
January 6, 2023 by Philip PoradoImprovements 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…
What 2023 looks like for your small business clients
January 4, 2023 by The Canadian PressTORONTO – 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…
Why your reinsurance bills are up this year
January 3, 2023 by Alyssa Di SabatinoJanuary 1 reinsurance renewals are proving to be “one of the most challenging reinsurance markets” the insurance sector has experienced, says Guy Carpenter, a Marsh McLennan global risk and reinsurance specialist firm. Property insurers in particular can expect rates to escalate due…
Ontario auditor general finds Niagara Escarpment protections lacking
December 20, 2022 by Allison Jones - The Canadian PressTORONTO – Ontario is not providing enough funding to allow proper protection of the Niagara Escarpment, where nearly all development permit applications have been approved in the last five years, the province’s auditor general says. A recent report by the…
The self-driving era is here, the question is what comes next
December 15, 2022 by Ian Bickis - THE CANADIAN PRESSTORONTO – The self-driving era is here, just not the one that was promised. Instead of sleek pods without steering wheels ready to chauffeur buyers off the lot, there are mostly driverless Chevy compacts, Chrysler minivans, and Ford box trucks…
Are product liability insurers ready to face mass torts?
December 13, 2022 by Philip PoradoClass 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…
What’s the better parametric insurance trigger for Canadian hurricanes?
December 12, 2022 by Alyssa DiSabatinoHurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar. Barometric pressure may be a better parametric trigger…
How can you improve cybersecurity? Hire more women
December 9, 2022 by Camelia Radu and Nadia SmailiBy Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM). This article was originally published on The Conversation, an independent and nonprofit source…