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M&A tip: how to avoid acquiring a “data lemon”

April 23, 2019 by Jason Contant

Insurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and…

News InsuranceLegislation / Regulation

Auto ‘very difficult policy to understand,’ says broker-turned-parliamentarian

April 23, 2019 by Greg Meckbach

The Ontario government wants to make the auto claims process easier to navigate and less cumbersome, a politician who used to be a broker told the legislature last week. “Today when someone has an accident, they are assigned an adjuster,”…

News CatastrophesRestoration

 Out of control Saskatchewan wildfire triggers state of emergency, evacuation

April 23, 2019 by THE CANADIAN PRESS

BIGGAR, Sask. – Saskatchewan’s fire commissioner is urging people across the province not to have open fires as a wildfire around the town of Biggar sparked a state of emergency and some evacuations. Duane McKay says crews are assessing what…

News RiskTechnology

Help your client overcome the stigma of the “breach” word

April 23, 2019 by Greg Meckbach

Managing cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”…

News InsuranceMarkets / Coverages

Is the industry taking a consistent approach to overland flood coverage?

April 23, 2019 by Jason Contant

Are carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup…

News ClaimsInsuranceLegal

Toronto van attack survivor deemed catastrophically injured

April 22, 2019 by Paola Loriggio - THE CANADIAN PRESS

TORONTO – Aleksandra Kozhevnikova doesn’t remember being hit by the van that careened through north Toronto and mowed down pedestrians on a busy thoroughfare last April. Nor does the 92-year-old woman, one of the 16 injured who survived, want to…

News Commercial LinesInsuranceProfessional Development

Is the grass greener on the other side of insurance?

April 22, 2019 by Jason Contant

Are you a personal lines specialist who is attracted by the allure of working in commercial lines? You’re not alone. “I think a lot of people often say, ‘Well, I’m in personal lines and I aspire to commercial because it’s…

News ClaimsInsurance

Spring melt floods thousands of Quebec homes

April 22, 2019 by Jason Contant

Nearly 2,400 homes in Quebec have been flooded following the spring melt in the province, according to statistics released early Monday morning by the provincial government. The flooding has resulted in the evacuation of more than 1,500 residents. The city…

News InsuranceLegal

Can a Family Law order force someone to “insure” a vehicle?

April 22, 2019 by David Gambrill

Can a court order a cube van owner under the Family Law Act to “insure” a vehicle that is to be transferred over to an ex? No, the Supreme Court of British Columbia ruled recently. Sukhvir Singh Athwal and Jessie…

News BrokersInsurance

Alberta’s new government: What next for the auto rate cap?

April 22, 2019 by David Gambrill

As the newly-elected United Conservative Party (UCP) prepares to take power in Alberta, it remains an open question what the victory will mean for the province’s auto insurance companies and brokers. In his electoral victory speech, UCP Leader Jason Kenney…

News Insurance

Paid 3 Ways Small Businesses Can Stay Compliant Under Federal Privacy Laws

April 22, 2019 by David Smagata, DAS

How can small businesses stay compliant under PIPEDA? The Office of the Privacy Commissioner of Canada has published various online resources for both individuals and businesses to help better understand their obligations under the Personal Information Protection and Electronic Document…

News Commercial LinesInsurance

Debate rages over whether a cyber attack is an act of war

April 18, 2019 by Jason Contant

Can a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following…