REGINA – Ottawa-area MP Pierre Poilievre says he would repeal what he calls Prime Minister Justin Trudeau’s “anti-energy” laws if he becomes the next leader of the Conservatives. Pierre told a campaign stop in Regina that if he becomes party…
Older green energy equipment is not equipped with the latest technology to protect it from increasingly severe weather events, meaning more claims activity for insurers, according to an expert in the area. Insurers have been seeing the effects of climate…
Insurers are getting a front-row seat in learning the risks that come from aging renewable energy-producing equipment, says an industry expert. The last 15 years have seen a spark in growth in the area of renewable energy development, particularly in…
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…
VirtualArmour International Inc. has partnered with a global architectural design and engineering firm that services the energy industry to design new security infrastructure in light of the sector increasingly becoming a target for cyber attacks. Under the terms of a…
There appears to be a divide between middle-market companies fully expecting that disruption will unfold and taking concrete steps to address whatever risk that change may bring, suggest findings of a new study from New York-based Capital One Commercial Bank.…
OTTAWA – Canada’s interconnected banks are vulnerable to a cascading series of cyberattacks that could undermine broad confidence in the financial system, the Bank of Canada warns. The structural vulnerability could allow for the easy spread of an initial attack…
Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,…
OTTAWA – The head of the Bank of Canada said an interest rate cut was not on the table during the central bank’s latest policy decision, but also warned of persistent risks that suggest it will not hike any time…
The energy sector is still beset by some significant challenges, including low oil prices, but there may also be a “new normal” emerging in the global energy insurance market, according to global advisory, broking and solutions company Willis Towers Watson…
Officials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a…
Wildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…