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Ride-hailing on its way to B.C.

February 19, 2018 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – Ride-hailing is on its way to British Columbia after the online services received the unanimous support of an all-party committee of the legislature on Thursday. The committee made 32 recommendations to help pave the way for introducing and…

News ClaimsInsuranceTechnology

Standards now exist for same-day insurance claims payments

February 15, 2018 by Jason Contant

Imagine when same-day insurance claims payments are a reality, without the need to overhaul any existing infrastructure. That could become a reality sooner than you think. ISO 20022, an international payments messaging standard that supports electronic payments, is already in…

News InsuranceMarkets / Coverages

What to ask your D&O clients before a market correction

February 15, 2018 by Greg Meckbach, Associate Editor

The latest stock market roller coaster ride should prompt brokers placing directors’ and officers’ liability to ask their clients about independent audits and internal controls. The week ending Feb. 9 saw a “a steep and broad-based selloff” in the stock…

News ClaimsInsuranceTechnology

Drone collisions on radar of risk managers

February 15, 2018 by Greg Meckbach, Associate Editor

A recent collision between a passenger plane and a drone has prompted Canada’s airplane accident investigation agency to warn of the risk of flying drones near airports. “The use of drones near an aerodrome or within controlled airspace poses a…

News InsuranceMarkets / CoveragesTechnology

Former privacy commissioner offers tip on reporting data breaches

February 15, 2018 by David Gambrill

CEOs, not chief information officers (CIOs), should be making the call on whether to report a data breach when a company falls victim to a targeted cyberattack, a former privacy commissioner told a cyber loss management seminar organized by Crawford…

News CatastrophesClimate ChangeInsurance

B.C. lacks climate change policies, especially on wildfires and flooding: audit

February 15, 2018 by The Canadian Press (CPSTF)

VANCOUVER – British Columbia’s auditor general says the provincial government is working to adapt to the risks posed by climate change but it has no clear plan for wildfires and flooding. Carol Bellringer says there is little monitoring of progress…

News ClaimsClimate ChangeInsurance

Cataclysmic hailstorm could cause up to $13.5 billion in damage: ICLR report

February 14, 2018 by David Gambrill

In a low-probability, worst case scenario, a single major hailstorm in Canada could result in insurance claims of up to $13.5 billion, according to a new research paper from the Institute for Catastrophic Loss Reduction (ICLR). “Of concern is that…

News ClaimsInsuranceLegislation / Regulation

How British Columbia will handle auto accident benefit disputes

February 14, 2018 by Greg Meckbach, Associate Editor

A new dispute resolution system for auto insurance in British Columbia will probably focus both on first-party accident benefit disputes and resolving claims from minor injuries, but the details have yet to be worked out, a spokesperson for the province’s…

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

How red tape is bringing telematics to a standstill

February 14, 2018 by Jason Contant

Restrictions imposed on how insurers price usage-based insurance pricing (UBIP) are hampering innovation in the insurance industry, the Insurance Bureau of Canada (IBC) told Canadian Underwriter Monday. Canadian Underwriter asked IBC on Monday for examples of red tape that could…

News ClaimsLegal

Workplace harassment policies should include non-employees, risk manager says

February 14, 2018 by Greg Meckbach, Associate Editor

Managing liability risk includes making workplaces free from harassment for not only employees, but also for non-employees, advises Darius Delon, an independent risk consultant based in Calgary. Lawsuits arising from harassment are one major emerging area of risk, said Delon,…

News Legal

Dating danger? Businesses rethink workplace romance policies

February 14, 2018 by Joyce M. Rosenberg - THE ASSOCIATED PRESS

NEW YORK – It happens in so many workplaces – two colleagues begin a romantic relationship. But a heightened awareness about sexual harassment means small business owners can get more anxious when employees start dating. Many owners have consulted with…

News InsuranceLegislation / Regulation

Outdated laws disallow insurers from offering digital insurance solutions: IBC

February 13, 2018 by Jason Contant

Ontario’s Insurance Act and its regulations prevent insurers from doing business and communicating with their customers through digital or mobile platforms, the Insurance Bureau of Canada (IBC) noted on Monday. Canadian Underwriter asked IBC about some of the red tape…