Canadian Underwriter

Topic Emerging Risks

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Should insurers (and others) be banned from making cyber ransom payments?

May 30, 2021 by David Gambrill

Editor’s Note: A previous verison of this article incorrectly stated that a cyberattack against AXA had happened after AXA’s announcement that it was suspecnding insurance coverage in France for ransomeware extortion payments. In fact, as per a Financial Times report

News B.C.ClaimsEmerging RisksEnvironmentalInsurers

Fracking likely to create stronger, more common earthquakes in B.C., study says

May 26, 2021 by Bob Weber - THE CANADIAN PRESS

More damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,

News BrokersEmerging RisksHRManagementOperations

How the pandemic has shifted employers’ priorities ‘overnight’

May 25, 2021 by Jason Contant

More than one year into the COVID-19 pandemic, there has been a massive, “overnight” shift in employers’ appetite towards employee benefits plans, Hub International speakers said during a recent webinar. “There’s a fast movement towards wellness, virtual services, virtual health

News AlbertaEmerging RisksEnvironmentalLiability

Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers

May 20, 2021 by The Canadian Press

CALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of

News Emerging RisksHRTrending

People analytics: How you can use employee data for internal hires

May 19, 2021 by Jason Contant

When acquiring talent, organizations should consider using employee data to glean insights into the best internal hires for their teams, one tech vendor suggests. There has been some debate within the Canadian P&C industry about whether to look outside the

News BrokersBusiness InterruptionCommercialEmerging RisksInsurersLiabilityRisk Managers

Coverage that you should be discussing with your commercial clients

May 17, 2021 by Adam Malik

Brokers exploring new ways to protect their commercial clients should be making “malicious attack” coverage part of the conversation, a risk expert advises. But it can be a tricky conversation for brokers to have. Clients may think they can’t afford

News AlbertaB.C.CatastrophesClaimsEmerging RisksLoss Trends

Why wildfire is moving into ‘peak peril’ range

May 14, 2021 by Jason Contant

Wildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting

News BrokersClaimsCommercial AutoCyberEmerging RisksInsurersPersonal Auto

A cybercriminal hijacks an autonomous vehicle. Who’s responsible for a crash?

May 12, 2021 by Adam Malik

Vehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about

News ClaimsEmerging RisksInsurersLiabilityPersonal Home

Canadian primary insurers may align with reinsurers’ new communicable disease exclusions

May 10, 2021 by Jason Contant

Canadian insurers may introduce new communicable disease exclusions to harmonize policy language with their revised reinsurance policies, Insurance Bureau of Canada (IBC) said recently.  International reinsurance markets introduced a new communicable diseases exclusion in many countries over the past few

News BrokersCommercialEmerging RisksInsurers

Terrorism coverage that Canadians may not know about

May 4, 2021 by Adam Malik

Citing very tight definitions of the types of incidents that would trigger a terrorism policy, an expert is advising P&C industry professionals to help commercial clients get additional coverage, providing a wider scope of protection. Several exclusions and definitions currently

News CommercialEmerging RisksInsurersRisk Managers

Risk managers’ takeaway from COVID-19: Yes, it can happen to us

April 23, 2021 by Adam Malik

The global COVID-19 pandemic has taught risk managers to be prepared for any threats, no matter how unlikely or far-fetched they may seem, industry experts said at a RIMS conference webinar panel. The risk of a pandemic has been on

News ClaimsClaims Canada ArchiveClaims ProfessionalsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsPersonal HomeProperty

How the feds’ budget benefits the P&C industry

April 20, 2021 by Greg Meckbach

Insurers are hoping it will be easier for homeowners to borrow money to raise their structures in areas at risk of flood or to replace roofs in wildfire-prone regions as a result of the federal budget announced Monday. In her