News
What the P&C industry is telling Wall Street about cyber risk
February 9, 2021 by Greg MeckbachCommercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks…
Licensing exams now offered in a virtual format
February 9, 2021 by Jason ContantLicensing exams for Ontario’s brokers are now available in an online, virtually-proctored format, the result of a partnership between the Insurance Institute of Canada and Ontario’s broker regulator RIBO (Registered Insurance Brokers of Ontario). “This is welcome news to many…
Business interruption insurer could be sued by this Canadian restaurant owner
February 9, 2021 by Greg MeckbachAn Ontario-based restaurant company whose sales dropped more than 50% during the pandemic may be taking legal action against its business interruption insurer. In a recent securities filing, SIR Royalty Income Fund said its business interruption claim from the COVID-19…
Regulator allows Co-operators to use credit score for rating auto
February 9, 2021 by David GambrillFollowing in Aviva Canada’s footsteps, Co-operators General Insurance Company has received approval from the Nova Scotia auto insurance regulator to use credit scoring as a rating factor to help price auto insurance rates for private passenger vehicles. “The company proposed…
B.C. health authority’s cybersecurity lacking on medical devices, says audit
February 9, 2021 by Jason ContantVICTORIA – British Columbia’s auditor general says the Provincial Health Services Authority is not effectively managing cybersecurity threats for medical devices and has not evaluated the risk to patients. Michael Pickup says ineffective cybersecurity management means the authority can’t apply…
Brokerage executives to examine COVID impact today and beyond
February 8, 2021 by Adam MalikBrokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as…
ICLR’s Paul Kovacs honoured with lifetime achievement award
February 8, 2021 by David GambrillPaul Kovacs, executive director of the Institute for Catastrophic Loss Reduction (ICLR), has received the Joseph Scanlon Lifetime Achievement Award from the Canadian Risk and Hazards Network (CRHNet). CRHNet is a not-for-profit organization established in 2003 to share hazards research…
How Aon’s proposed takeover of Willis Towers Watson is going
February 8, 2021 by Greg MeckbachAon plc has yet to complete its proposed acquisition of Willis Towers Watson plc, but the future management team of the combined brokerage is already starting to collaborate, Aon CEO Greg Case suggested last week. Shareholders of both Aon and…
Why there is very little MGA consolidation
February 8, 2021 by Jason ContantManaging general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA…
Punishing winter storm belts East Coast with heavy snow and high winds
February 8, 2021 by The Canadian PressHALIFAX – Most of Nova Scotia, Prince Edward Island and Newfoundland are being pounded by heavy snow and high winds Monday, creating whiteout conditions in many areas. The storm moved into the Maritimes overnight heading west to east and is…
Accenture appoints lead for advancing cloud technology in Canada
February 5, 2021 by David GambrillTo help Canadian organizations accelerate their digital transformations and rapidly become ‘cloud-first’ organizations, Accenture has appointed Jennifer Jackson as Cloud First Lead for Canada. “Jennifer plays a vital role as head of our technology practice in Canada,” Jeffrey Russell, president…
Why this drunk driver couldn’t be sued by victims of a hit-and-run
February 5, 2021 by Greg MeckbachA Saskatchewan motorist who pleaded guilty to impaired driving cannot be sued in the province by victims of a hit-and-run accident that happened in Saskatoon a few hours before the inebriated motorist was pulled over and arrested by police. This…