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Flood threat remains in Quebec and Ontario

May 15, 2019 by THE CANADIAN PRESS

MONTREAL – 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…

News InsuranceLegislation / Regulation

Looking for clarity on insurance regulations? Try this new hub…

May 14, 2019 by Adam Malik

The 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…

News BrokersInsurance

Flexible schedule tops list of summer wants

May 14, 2019 by Adam Malik

When 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…

News AppointmentsInsuranceReinsurance

Munich Re Canada appoints new president and CEO

May 14, 2019 by Jason Contant

Munich 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…

News BrokersInsuranceTechnology

Why digital transformation gives brokers the edge over directs

May 14, 2019 by David Gambrill

It’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…

News InsuranceRiskTechnology

New spyware infects phones through missed calls

May 14, 2019 by Frank Bajak And Raphael Satter - THE ASSOCIATED PRESS

Spyware 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…

News InsuranceLegislation / Regulation

How ride-sharing insurance on leased vehicles will change in this province

May 13, 2019 by Greg Meckbach

Limiting 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…

News AdjustersClaimsClimate ChangeRestoration

The challenges of assessing seasonal home damage

May 13, 2019 by Adam Malik

Despite 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…

News RiskTechnology

Canadian companies paying high cybercrime bills

May 13, 2019 by Adam Malik

Malicious 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…

News EmploymentInsurance

How far can employee confidentiality agreements go?

May 13, 2019 by Jason Contant

If 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…

News Insurance

What’s affecting B.C. wildfire risk this year

May 13, 2019 by THE CANADIAN PRESS

KAMLOOPS, 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…

News Insurance

Where are the bottlenecks?

May 13, 2019 by David Gambrill

Total 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…