Canadian Underwriter

Topic Emerging Risks

News BrokersClaims Canada ArchiveCommercialEmerging RisksInsurersRisk Managers

Kidnap and ransom coverage: What you should tell your clients

January 28, 2021 by Greg Meckbach

Clients can buy insurance that would cover the financial risk of a kidnapping or hijacking, but brokers should be aware of several things. “In the event of a kidnapping, the onus is on the client to finance the ransom payment

News Claims Canada ArchiveClaims ProfessionalsEmerging RisksLegalLiabilityRisk Managers

Risk management lessons from the governor general’s resignation

January 26, 2021 by Greg Meckbach

If a commercial client has any inklings of a toxic workplace, an independent investigation is one way of managing reputational and liability risk, an expert says. The resignations last week of Governor General Julie Payette and her secretary may have

News CommercialEmerging RisksProperty

Hard-hit businesses get rules, Feb. 1 start date for Liberals’ $1-million loan fund

January 26, 2021 by The Canadian Press

OTTAWA – Companies that want in on a new federal loan program will have to show sharp revenue declines during the pandemic and that they have already applied for other business aid. The new loans, from the Highly Affected Sectors

News CatastrophesCommercialEmerging RisksInsurersLiabilityPersonal AutoPersonal Home

Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada

January 25, 2021 by David Gambrill

Garth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered

News Emerging RisksLiabilityLoss TrendsOntarioPersonal Auto

Suspension of licence renewal requirements for drivers 80 and older raises concerns

January 25, 2021 by Radha Kohly - THE CANADIAN PRESS

A decision to waive vision tests and other screening typically required to renew driver’s licences for Ontarians aged 80 and older during the pandemic has some in the medical community raising concerns about the risks the move poses to those

News ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEmerging RisksLegalLiabilityOntarioRisk Managers

This new type of class-action tort grew from genetically modified corn seed

January 22, 2021 by Greg Meckbach

A proposed class-action lawsuit based on the novel tort of “premature commercialization” is going ahead in Ontario. The Supreme Court of Canada announced Dec. 10 it will not hear an appeal from Syngenta Canada Inc., which is facing a proposed

News BrokersCommercialEmerging RisksInsurersLegalLiability

Why brokers may face E&O exposure due to COVID-19

January 20, 2021 by Adam Malik

One prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that

News Emerging RisksLoss TrendsTrending

Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021

January 20, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in

News BrokersBusiness InterruptionCyberEmerging RisksInsurersTechnology

‘COVID Trio’ tops the biggest biz risks for this year

January 19, 2021 by Adam Malik

Business interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found

News ClaimsClaims Canada ArchiveCommercial AutoEmerging RisksLegalLiabilityLicensingPersonal AutoTechnologyTrending

What’s missing from driverless vehicle rollout plan

January 19, 2021 by Greg Meckbach

Driverless vehicles need to have some way of communicating with police, fire and ambulance responders, an auto manufacturers’ group said in a recent report. First responders have ways of handling situations they encounter in traffic but there are no  “common

News BrokersClaimsClaims Canada ArchiveEmerging RisksLegalLicensingOperationsQuebec

RCCAQ reacts to Quebec curfew

January 18, 2021 by Greg Meckbach

Quebec’s insurance brokers should not experience any major disruptions as a result of the province-wide evening curfew imposed a week ago, the chair of the Regroupement des cabinets de courtage d’assurance du Quebec (RCCAQ) predicts. The curfew took effect on

News Claims Canada ArchiveCommercialEmerging RisksLoss TrendsRisk ManagersTechnology

How social media can be a cyber attack vector

January 15, 2021 by Greg Meckbach

Cyber criminals are increasingly targeting workers through applications such as LinkedIn, WhatsApp, Facebook and Twitter, McAfee LLC warned in a report released Wednesday. Traditionally, cyber criminals have relied heavily on phishing as a way to target individual employees, McAfee chief