Topic Risk Managers
How employers are incentivizing the return to the office
April 27, 2022 by Alyssa DiSabatinoMany in the P&C industry plan to return to work in-person, so companies may want to consider ways to incentivize their employees to return to their offices, suggests a panellist at the Insurance Institute of Canada’s Pivot with Purpose webinar.…
Fraud risk management at B.C.’s $16 billion Site C dam project can improve: auditor
April 27, 2022 by Jason ContantVICTORIA – British Columbia’s auditor general says Crown-owned BC Hydro can improve its management of potential fraud risks at the $16 billion Site C dam project. Michael Pickup says an audit found the Crown corporation has some elements of fraud…
Partnership approach needed in current cyber risk landscape
April 25, 2022 by Alyssa DiSabatinoAs the cyber landscape and ransom attacks evolve, the onus is on insureds to protect themselves just as much as it is on insurers to provide coverage, says a webinar panellist. “The archaic method of underwriting risk has shifted dramatically…
Why multi-factor authentication isn’t the cure-all for your client’s cyber woes
April 21, 2022 by Jason ContantStaying one step ahead of cybercriminals seems to be a never-ending battle for insurers and insureds, cyber experts said during an industry event Wednesday. “The problem is, as we increase our cyber hygiene and become better insureds, the criminals adapt…
Leaving hibernation: What’s next for P&C industry?
April 21, 2022 by David GambrillLook for Canada’s P&C industry to fine-tune the hybrid workplace model over the next six months, as the country starts to ease pandemic restrictions, industry execs say. The tinkering will involve achieving the best balance between meeting in person with…
Ukraine war insured losses could outstrip 9-11
April 20, 2022 by Philip PoradoWhen adjusters are finally able to assess the damage stemming from the war in Ukraine, costs may exceed the Sept. 11, 2001 terror attacks as the largest industry-wide insured loss, across all classes of business, in history, said a specialty…
Insurers winning court battles to enforce pandemic BI arbitration
April 4, 2022 by David GambrillQuebec insurers with arbitration clauses written into their business interruption policies are winning battles to have pandemic BI class action suits go through arbitration rather than through the courts. Both of law firm Clyde & Co.’s Top 2 cases of…
How Canada’s P&C industry feels about COVID safety in their offices
March 30, 2022 by David GambrillMore than seven out of 10 Canadian P&C industry professionals feel protected from COVID in their new hybrid office arrangements, according to an online poll conducted this week by Canadian Underwriter. Over 650 P&C professionals answered CU‘s survey, including brokers,…
Supply chain concerns overshadow logistics data hacks
March 24, 2022 by Philip PoradoWhile the winter freedom convoy protests and bridge blockades highlighted Canada’s strained supply chains, insured business interruption events linked to logistics problems were common long before the pandemic. Insurers working with logistics clients note congested ports and a lack of…
One way for the P&C industry to train new young leaders
March 24, 2022 by Alyssa DiSabatinoThe P&C industry is struggling to find talent to fill the leadership skills gap, but a new program designed to get prospective executives to hit the ground running may be able to help with that. The New Leader Integration program,…
From nukes to export tangles, war shows need for custom covers
March 23, 2022 by Philip PoradoClients needing war, political violence or terrorism insurance may need to seek bespoke covers, noted a recent Ukraine technical update from claims manager Crawford. “The purpose of a political violence policy is to dovetail with the commercial property policy and…
‘Antivirus on steroids’ — one way to protect your clients from ransomware
March 16, 2022 by David GambrillTo help clients detect their cyber exposures, insurers are recommending ‘powerful’ preventative measures such as endpoint detection responses (EDR) — dubbed ‘antivirus on steroids.’ Used in combination with multi-factor authentication, EDR is deemed superior to traditional anti-virus software because the…