News

GENEVA – More than half of all workplace tasks will be carried out by machines by 2025, organizers of the Davos economic forum said in a report released Monday that highlights the speed with which the labour market will change…

There are indications the commercial insurance market in Canada is starting to see rate hardening, the president of Hub International Canada told Canadian Underwriter Friday. “It hasn’t all hit yet, so I want to be clear on that,” Tina Osen…

The Insurance Corporation of British Columbia (ICBC) has received more than 3,000 claims from two sulphuric acid spills in April and May, the public insurer said Wednesday. The Canadian Press reported mining company Teck Resources as saying two spills of…

Commercial specialty insurer Ironshore Canada is being re-branded as Liberty Mutual Canada. In addition to Ironshore, Liberty International Underwriters Canada is also being rebranded as Liberty Mutual Canada, the insurer announced Thursday. But for the rest of 2018, “policies will…

Clients who make tanks for flammable and hazardous material cannot always obtain insurance covering the full range of product and pollution liability. Matrix Service Company, whose products include above-ground fuel tanks, said Wednesday its products can potentially expose it to…

Police in Ontario are warning municipalities about a rash of cyberattacks targeting local governments in which hackers demand a ransom in exchange for access to systems. Ontario Provincial Police did not provide firm numbers on the ransomware incidents but say…

Commercial insurance clients in multiple industry segments can now receive tailored core coverages under a single package solution. Core coverages include first and third party cyber, D&O liability, media management crisis costs, event cancellation and currency devaluation. Tailored for seven specific…

Though it pays to be tech-savvy, one way commercial clients can manage risk is to learn to do without the Internet and payment card networks, a disaster restoration professional advises. In the event of a major storm, businesses need to…

If your client makes or supplies beauty care products, they could face bodily injury lawsuits if certain chemicals are present. The “toxic trio” – dibutyl phthalate (DBP), toluene and formaldehyde – are contained in some nail varnishes, body lotions, fragrances…

Nearly seven in 10 people polled in Newfoundland and Labrador support a cap on auto insurance payouts for minor injuries, Insurance Bureau of Canada (IBC) revealed in a new study. This week, IBC released the results of a public opinion…

WINNIPEG – Store owners who will sell cannabis in Manitoba will face strict rules about how they display and secure the drug when its recreational use becomes legal next month. New rules set by the province will require that stores…

Although heavy rain soaked Torontonians during Monday’s morning rush hour, the storm won’t be a catastrophe event, insurance professionals told Canadian Underwriter. “As far as I’m concerned, the rainfall yesterday was a non-event from an insurance perspective,” Glenn McGillivray, managing…