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budget

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How federal budget could improve cyber underwriting

March 21, 2019 by Greg Meckbach

Insurance Bureau of Canada officials are hoping a $145-million commitment by the federal government towards cyber security will help the industry better understand how much a cyber incident could cost. In the 2019-20 budget document tabled Tuesday, federal Finance Minister

Ontario legislature at Queen's Park in Toronto, Ontario government
News EmploymentInsuranceLegislation / Regulation

What Ontario’s budget means for women in the province’s P&C industry

April 2, 2018 by Greg Meckbach

Fair wages for women is becoming a “bigger issue” in the insurance industry, says Colin Simpson, CEO of the Insurance Brokers Association of Ontario. “There is proven disparity in the marketplace” between men’s and women’s salaries, Simpson told Canadian Underwriter

News InsuranceLegislation / RegulationMarkets / Coverages

Ontario budget 2018: What’s in it for the industry

March 29, 2018 by Greg Meckbach

The Ontario government’s 2018-19 budget document provides some comfort for auto insurers because the province is committing to having the new regulator up and running by April 2019. The Financial Services Regulatory Authority, which will effectively replace the Financial Services

News InsuranceLegislation / Regulation

Why insurers and brokers like Ontario’s budget

March 29, 2018 by David Gambrill

Facing the distinct possibility of a political regime change in Ontario, the province’s auto insurers and brokers are calling on all of the province’s political parties to keep their eyes focused on auto insurance reform as the way to deliver

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

EY polls Canadian oil & gas refinery operators on equipment failure

August 28, 2017 by Canadian Underwriter

Some operators of Canadian oil and gas upgraders and refiners are delaying scheduled maintenance due to budget cuts and there is a heightened risk of equipment failure, especially with valves and pumps, Ernst & Young LLP suggested in a recent

News Technology

Accepting failure can fuel success, drive advances for companies looking to reach digital maturity: global study

July 14, 2017 by Canadian Underwriter

Trying and accepting the possibility of failure has proved an effective way for organizations to clear the aversion-to-risk hurdle and advance toward digital maturity, notes a new study from MIT Sloan Management Review and Deloitte Digital. In all, 71% of

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesProductsTechnology

Documents show many cities are wary of mapping flood risks, making data public

May 9, 2017 Jordan Press - THE CANADIAN PRESS

OTTAWA – When municipal officials were told last year about new tools to help them map the risk of flooding in their communities, they immediately raised red flags, suggesting they wanted no part of it over concerns about legal liability

News AssociationsCatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsuranceTechnology

Difficult year for Canada’s p&c insurance industry: IBC’s McGown

April 4, 2017 by Angela Stelmakowich

The Fort McMurray wildfire and other large weather events combined with the lowest return on investment (ROI) in decades to produce a very difficult year for Canada’s p&c insurance industry in 2016, David McGown, senior vice president of strategic initiatives

News CatastrophesInsuranceMarkets / Coverages

Federal disaster mitigation funding “a leap forward”: ICLR

March 23, 2017 Angela Stelmakowich

The federal budget’s commitment to create a $2 billion Disaster Mitigation and Adaptation Fund demonstrates Ottawa’s increasing support for disaster risk reduction, suggests Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). “For many years, the federal

News Earnings / RatingsInsuranceLegislation / Regulation

Canadian politicians agree in principle to increase employers’ Canada Pension Plan contributions

June 27, 2016 by Canadian Underwriter

Less than a month after Ontario passed a law mandating participation for some employees in a province-sponsored pension plan, most of Canada’s premiers signed an agreement in principle, with the federal government, to increase contributions to the Canada Pension Plan.

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

B.C. provides $1.47 million for flood mitigation project near Fairmont Hot Springs Resort

May 24, 2016 by Canadian Underwriter

The province of British Columbia announced on Friday that it is committing nearly $1.5 million toward a flood mitigation project in East Kootenay. The $1.47 million in funding will go toward a flood mitigation project near Fairmont Hot Springs that