Topic Emerging Risks
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…
Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada
January 25, 2021 by David GambrillGarth 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…
Suspension of licence renewal requirements for drivers 80 and older raises concerns
January 25, 2021 by Radha Kohly - THE CANADIAN PRESSA 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…
This new type of class-action tort grew from genetically modified corn seed
January 22, 2021 by Greg MeckbachA 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…
Why brokers may face E&O exposure due to COVID-19
January 20, 2021 by Adam MalikOne 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…
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 PRESSOTTAWA – 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…