Topic Emerging Risks
Internal data show surge in harassment complaints at Canada Revenue Agency, RCMP
February 11, 2021 by Christopher Reynolds - THE CANADIAN PRESSOTTAWA – Complaints of workplace harassment and violence have risen sharply at several federal departments and agencies in recent years, according to internal data. The Canada Revenue Agency (CRA) saw harassment complaints jump 82 per cent to 166 between 2016-17…
What the P&C industry is telling Wall Street about cyber risk
February 9, 2021 by Greg MeckbachCommercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks…
B.C. health authority’s cybersecurity lacking on medical devices, says audit
February 9, 2021 by Jason ContantVICTORIA – British Columbia’s auditor general says the Provincial Health Services Authority is not effectively managing cybersecurity threats for medical devices and has not evaluated the risk to patients. Michael Pickup says ineffective cybersecurity management means the authority can’t apply…
Brokerage executives to examine COVID impact today and beyond
February 8, 2021 by Adam MalikBrokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as…
Why there is very little MGA consolidation
February 8, 2021 by Jason ContantManaging general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA…
Two Toronto-area seniors homes limit visits over COVID-19 variant risk
February 4, 2021 by Holly McKenzie-Sutter - THE CANADIAN PRESSTwo Toronto-area retirement homes imposed restrictions on visitors coming from an Ontario region at the centre of a more potent COVID-19 outbreak over the weekend as officials in another district said the more contagious U.K. virus variant had surfaced there…
What’s lurking behind all of the financial and pandemic risks…
February 1, 2021 by David GambrillRisk managers globally are scrambling to respond to a number of financial risks related to the pandemic and the related economic meltdown, making credit risk one of their chief concerns for 2021, as reported in a new study by Deloitte. But…
COVID’s impact on aviation insurance could be worse than you think
February 1, 2021 by Greg MeckbachThe drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID…
Will NatCats cause your business clients to leave hot spots?
February 1, 2021 by Adam MalikAfter going through a wildfire and multiple flooding events over the last few years, it’s reasonable to believe that businesses are re-thinking about being in Fort McMurray, Alta., says a Canadian P&C insurance executive. The executive’s comment applies to more…
Kidnap and ransom coverage: What you should tell your clients
January 28, 2021 by Greg MeckbachClients 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…
Risk management lessons from the governor general’s resignation
January 26, 2021 by Greg MeckbachIf 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…
Hard-hit businesses get rules, Feb. 1 start date for Liberals’ $1-million loan fund
January 26, 2021 by The Canadian PressOTTAWA – 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…