News

British Columbia is currently in the risk zone for a large or megathrust earthquake, based on a recurrence interval of such events identified in a new study. The study, published in the Canadian Journal of Earth Sciences, dated the disturbances…

Less than 1% of Canadian companies are currently using receivables insurance as part of their financial planning, creating a new opportunity for brokers, according to a new organization promoting the opportunity for such coverage. Less than 10,000 of Canada’s 1.1…

While the majority of teen drivers have a personal sense of responsibility for themselves and their passengers, many admitted that they feel helpless about their own risk of collision, notes a new survey from State Farm. About 40% of licensed…

New York City mayor Michael Bloomberg has laid out about 250 proposals for how the metropolis can prepare for future severe weather events and the impact of climate change, including proposed changes to flood insurance. The proposals are outlined in…

An Alberta judge ruled last week against The Dominion of Canada General Insurance Company when it decided the carrier has a duty to defend a construction contractor against a lawsuit filed by a condominium corporation. In a ruling June 4,…

A majority of nonprofit organizations are operating without a dedicated risk manager, according to results from a recent survey by Crystal and Co., New York-based a risk and insurance advisor. Only 22% of the U.S. nonprofit organizations included in its…

Recent severe flooding in Germany is likely to be even costlier than floods there in 2002, Fitch Ratings said Tuesday. If the flooding progresses as it has in the past, the country is likely to see economic damage around 12…

Canada’s Transportation Safety Board is recommending the installation of controls designed to automatically stop trains that miss signals and also expresses concern that employees in “safety-critical positions” are “not always adequately assessed for medical fitness.” TSB released Tuesday a report…

More than half of Fortune 500 companies in the United States say that their firms would face “serious harm” or be “adversely impacted” due to a cyber attack, according to a new report from Willis North America. The majority of…

The Supreme Court of Canada has dismissed an application by a Saskatchewan municipality for leave to appeal a ruling that allows an auto claimant with no-fault insurance to sue the municipal government responsible for maintaining a road. The highest court…

An arbitrator for the Financial Services Commission of Ontario recently ruled that a form used in the past by auto carriers to notify claimants that their income replacement benefits are being stopped is confusing and unclear. FSCO arbitrator Jessica Kowalski…

Researchers at Stanford University have found a new possible way to alert that a major tsunami is following an earthquake, based on a study of the circumstances surrounding the March 2011 events in Japan. That 9.0-magnitude undersea earthquake off the…