News
Court finds corporate director personally liable for worker’s comp injury claim
November 5, 2019 by David GambrillA corporate director can be held personally liable for injuries that happen to employees in a workplace while the director is simultaneously engaged in the work “as part of the business of the corporation,” the Court of Appeal of Alberta…
How this statutory benefits ruling hinged on the word “the”
November 5, 2019 by Jason ContantSaskatchewan’s highest court has ruled in favour of the province’s government auto insurer in a case involving statutory death benefits paid collectively to three dependant children. The Court of Appeal for Saskatchewan’s ruling in Johnson v Saskatchewan Government Insurance, released…
Power outage restoration enters “most difficult phase”: Hydro Quebec
November 5, 2019 by The Canadian PressMONTREAL – Hydro-Quebec says it is aiming to have all of the roughly 40,000 customers still without power Monday afternoon reconnected to the grid by Tuesday. The 1,400 employees working to restore power across the province following Friday’s windstorm have…
BrokerLink acquires another Ontario brokerage
November 4, 2019 by Greg MeckbachBrokerLink has acquired Newmarket, Ont.-based Buckley Insurance Brokers Ltd., which places home, auto and commercial insurance. Buckley notified its customers Friday by email that it is now part of BrokerLink, which is owned by Intact Financial Corp., owner of Canada’s…
Who bought who this past week in the Canadian P&C space?
November 4, 2019 by Jason ContantGlobal insurance brokerage Hub International Limited has bought another Canadian firm as part of its ongoing strategy to expand its employee benefits and pension solutions. Hub announced Monday it had acquired R Bruce Inc., doing business as RBI Advisory Group.…
Why this commercial food spoilage claim from ice storm was denied
November 4, 2019 by Greg MeckbachIf your client has coverage for business interruption and spoiled perishable food inventory, does that still kick in if the loss was caused by damage to power transmission lines off the client’s property? For a Toronto bakery, the answer is…
Firming market ‘might have legs,’ Fairfax executive predicts
November 4, 2019 by Greg MeckbachInsurance premiums are up nearly 14% for carriers owned by Fairfax Financial, and much of that is due to price increases, the holdings company’s president suggests. “In my career here – 16 years – I haven’t seen anything quite like…
Government services affected by weekend ransomware attack
November 4, 2019 by The Canadian PressIQALUIT, Nunavut – Crucial Nunavut government services from health to justice were still impaired Monday after a weekend cyberattack locked out civil servants from access to electronic information. “We are working non-stop to resolve this issue,” said Premier Joe Savikataaq…
Insurers reveal a popular attack of choice for cyber-criminals
November 1, 2019 by Jason ContantAnother insurer is reporting a rise in ransomware attacks. Specialist insurer Beazley said Thursday that the targeting of IT vendors by cyber criminals contributed to a 37% increase in reported ransomware incidents in the third quarter of 2019 compared to…
How to advise your clients on reducing flood risk
November 1, 2019 by Adam MalikHelping homeowners assess flood risk is great way for brokers to increase the value they provide clients – and it’s easy for them to do so, a climate expert says. All it takes is walking the client through potential hotspots,…
Data exchange: does it make sense for the insurer to compete with the mail service?
November 1, 2019 by Greg MeckbachImagine if each insurance company set up its own courier service to compete with Canada Post, instead of having a common carrier for the industry. Joseph Carnevale conjures up this scenario to illustrate why it’s a bad idea for every…
What carrier CEOs said when asked if MGAs should be regulated
November 1, 2019 by David GambrillManaging General Agencies (MGAs) in Canada have been attracting attention in the industry recently, and not just because of their hybrid status as both distributors and underwriters of insurance products. Their regulatory status in Canada is nebulous, and some are…