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BMO and CIBC’s Simplii warn fraudsters may have accessed data of 40,000 clients

May 28, 2018 The Canadian Press

TORONTO – Two of Canada’s biggest banks are warning that “fraudsters” may have accessed certain personal and financial information from some customers. The Bank of Montreal said fraudsters contacted the bank on Sunday claiming to be in possession of certain

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional DevelopmentTechnology

Accenture launches “Liquid Studio” in Toronto to help clients accelerate digital transformation

August 18, 2017 by Canadian Underwriter

Global professional services company Accenture has opened a new “Liquid Studio” in Toronto to help clients “to turn ideas into innovative applications and solutions with speed and agility.” The Liquid Studio uses rapid development approaches, including agile methodologies and DevOps

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Loblaw to keep operating PC Financial home & auto brokerage after ending banking relationship with CIBC

August 17, 2017 by Canadian Underwriter

PC Financial Insurance Broker Inc. – which places home and auto insurance in Ontario, Alberta and Atlantic Canada – will continue to be owned and operated by grocery and drug retailer Loblaw Companies Ltd., a PC Financial spokesperson told Canadian Underwriter Wednesday.
President’s Choice Bank, a Loblaw unit, announced Wednesday it has ended its 20-year relationship with the Canadian Imperial Bank of Commerce.
“Everyday banking products, including savings, chequing and mortgage accounts, previously offered under the President’s Choice Financial brand will continue to be provided by CIBC, under new branding…

News InsuranceLegal

Supreme Court of Canada could hear appeal of lawsuit involving auditors’ duty of care to non-shareholder lenders

May 29, 2017 by Canadian Underwriter

Canada’s highest court will decide June 1 whether it will hear an appeal from a major auditing and accounting firm that could face a trial this fall in a class action lawsuit filed by several banks over the bankruptcy in

News Earnings / RatingsInsurance

CIBC economist tells insurers how investment returns could be affected by ‘things that go Trump in the night’

April 26, 2017 Greg Meckbach, Associate Editor

Interest rates in Canada are predicted to stay “very low by historic standards” through the end of 2019, an economist recently told insurance professionals, while a “movement against globalization” is a concern for one of Canada’s largest carriers. Avery Shenfeld,

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsTechnology

IBM and SecureKey Technologies to deliver blockchain-based network for Canadian consumers

March 21, 2017 by Canadian Underwriter

IBM and SecureKey Technologies, an identity and authentication provider company, announced on Monday that they are joining forces to “enable a new digital identity and attribute sharing network” based on IBM Blockchain. “The network will be designed to make it

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Back to business results expected from oilsands as wildfire impact dissipates

October 26, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped

News Earnings / RatingsInsuranceMarkets / Coverages

Canadian banks shake off oilpatch fears, report better than expected earnings

August 26, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – Panic about how the oil price shock could affect the banks’ bottom lines has subsided, as several of the country’s largest financial institutions reported better-than-expected third-quarter results. CIBC (TSX:CM) reported that its quarterly profit climbed nearly 50 per

News CatastrophesConstructionInsurance

Alberta fires torch economy, biggest monthly GDP decline in more than 7 years

July 31, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Alberta wildfires torched the Canadian economy in May, driving the country into its worst one-month performance since the darkest days of the Great Recession. On Friday, Statistics Canada’s latest reading for real gross domestic product showed a

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Higher prices from Fort McMurray wildfire to boost Q2 energy company results

July 21, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada

News CatastrophesInsuranceMergers and Aqcuisitions

Athabasca, Syncrude bring back project staff as wildfire risk recedes

May 24, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Alberta oilsands workers forced to flee the ferocious Fort McMurray wildfire are returning to begin the tricky process of restarting their projects in northern Alberta, reassured by colder weather and a forecast of rain. In a Tuesday morning

News CatastrophesInsurance

Big banks shave 2016 growth outlooks for Canada in wake of Alberta wildfire

May 12, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The effects of the enormous Alberta wildfire on the ever-crucial oil sector have prompted forecasters to trim their 2016 economic growth predictions for the entire country. Experts, including those from several big banks, have shaved their outlooks in