News
Flood threat remains in Quebec and Ontario
May 15, 2019 by THE CANADIAN PRESSMONTREAL – The Canadian Forces will maintain soldiers in Quebec to remove sandbags and restore critical infrastructure in communities hit by flooding, Brig.-Gen. Jennie Carignan said Monday. And while flooding has largely stabilized or begun to subside, high water levels…
Looking for clarity on insurance regulations? Try this new hub…
May 14, 2019 by Adam MalikThe Canadian Council of Insurance Regulators (CCIR) will be launching a new access point this fall to help insurance providers understand licencing and regulatory regimes across Canada. The launch of the Fintech Advisory Hub was met with enthusiasm from the…
Flexible schedule tops list of summer wants
May 14, 2019 by Adam MalikWhen it comes to summer perks, Canadian employees want their bosses to give them a more flexible schedule. Almost half (49%) of the 400 respondents to a survey from staffing firm Accountemps said they wanted more opportunities to work from…
Munich Re Canada appoints new president and CEO
May 14, 2019 by Jason ContantMunich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich…
Why digital transformation gives brokers the edge over directs
May 14, 2019 by David GambrillIt’s a common misperception that large direct insurance companies have lots of money to invest in the best, most innovative technology, creating a divide between them and smaller, “have not” brokerages. But digital transformation is actually levelling the playing field…
New spyware infects phones through missed calls
May 14, 2019 by Frank Bajak And Raphael Satter - THE ASSOCIATED PRESSSpyware crafted by an “advanced cyber actor” infected multiple targeted mobile phones through the popular WhatsApp communications program without any user intervention through in-app voice calls, the company said. The Financial Times identified the actor as Israel’s NSO Group, and…
How ride-sharing insurance on leased vehicles will change in this province
May 13, 2019 by Greg MeckbachLimiting financial risk to firms that lease out vehicles used for ride sharing is one aim of legislation before Ontario law makers. Right now, the Insurance Act has limits on lessors’ vicarious liability but it “does not account for the…
The challenges of assessing seasonal home damage
May 13, 2019 by Adam MalikDespite being told flooding in Ontario’s Cottage Country back in 2013 was one-in-100-years event, area businesses and residents are cleaning up from a second and more widespread flooding incident in less than a decade. Climate is playing a key role…
Canadian companies paying high cybercrime bills
May 13, 2019 by Adam MalikMalicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in…
How far can employee confidentiality agreements go?
May 13, 2019 by Jason ContantIf you leave your brokerage with some confidential information stored to memory as opposed to a physical document, can you use that information? A recent ruling from the Ontario Superior Court of Justice found that even committing to memory confidential…
What’s affecting B.C. wildfire risk this year
May 13, 2019 by THE CANADIAN PRESSKAMLOOPS, B.C. – The BC Wildfire Service has come through its busiest period of the young 2019 wildfire season, responding to several blazes, including one that prompted an evacuation order west of Prince George. Weather has been unseasonably warm in…
Where are the bottlenecks?
May 13, 2019 by David GambrillTotal Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total…