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Insurance hard to obtain for this food processor

December 20, 2018 by Greg Meckbach

Product liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The…

News Technology

Uber autonomous vehicle testing resumes in Toronto

December 20, 2018 by Ian Bickis - THE CANADIAN PRESS

TORONTO – Uber Technologies Inc. says its self-driving vehicles have returned to the streets of Toronto in a modified program after it halted testing earlier this year when one of its autonomous vehicles struck and killed a pedestrian in Arizona.…

News InsuranceMergers and Aqcuisitions

Private equity firm to acquire 50% interest in western Canadian insurer

December 19, 2018 by Jason Contant

An Alberta-based private equity company announced Tuesday it has entered into a letter of intent to acquire a 50% interest in a western Canadian-based property and casualty insurance company for $2 million. The Western Investment Company of Canada, a publicly…

News InsuranceTechnology

Why insurers should invest in omnichannel strategies

December 19, 2018 by Jason Contant

With strategic investment in digital initiatives and omnichannel, insurers can become more customer-centric, achieve growth and lower costs, Ernst & Young (EY) said recently. Digital and omnichannel is one of five key issues and trends that should be on the…

News InsuranceRiskTechnology

How not to deal with a ransomware attack

December 19, 2018 by Greg Meckbach

Your client should never have to negotiate with a cyber criminal even if that client has suffered a ransomware attack, cyber security experts advise. Ransomware is a type of computer malware that prevents clients from either using their computers or…

News AdjustersClaimsMergers and AqcuisitionsTechnology

Calgary claims vendor now owned by CoreLogic

December 19, 2018 by Greg Meckbach

CoreLogic Inc. announced Wednesday it has closed its acquisition of Symbility Solutions Inc. Irvine, Calif.-based CoreLogic – which provides risk data on properties to property and casualty insurers – already owned 28% of Symbility, a Calgary-based vendor of claims processing…

News Legislation / Regulation

Interest rates might not rise next month: Analysts

December 19, 2018 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Cooling inflation has given the Bank of Canada another reason to keep interest rates on ice next month. The annual pace of inflation slowed in November to 1.7 per cent as upward pressure from higher gasoline prices eased…

News ClaimsInsuranceRisk

Is the number of drunk drivers in Canada decreasing?

December 18, 2018 by Jason Contant

The number of Canadians who died in a crash involving a “drinking driver” has generally decreased in recent years, but rose again in 2015, according to recent research. In 1995, 1,057 Canadians (excluding British Columbians) were killed in road crashes…

News InsuranceTechnology

How ransomware can become a broker’s cyber selling point

December 18, 2018 by Jason Contant

Brokers placing cyber coverage for healthcare clients may want to take note of a new survey that found for many Canadian businesses, ransomware isn’t a one-time occurrence. Of those polled that said they knew of a ransomware attack in their…

News InsuranceLegislation / Regulation

Marshall report on Ontario auto ‘dead’

December 18, 2018 by Greg Meckbach

A report recommending major auto reforms, from a former CEO of Ontario’s Workplace Safety and Insurance Board, appears to have gone by the wayside. “What I have heard is that [the] Marshall [report] is dead,” consultant Willie Handler said Monday…

News InsuranceLegal

Drinking and boating accident sparks disagreement among judges

December 18, 2018 by Greg Meckbach

In a recent divided ruling over the constitutional rights of drivers suspected of being impaired after causing an accident, the Supreme Court of Canada has narrowly upheld the conviction of an Ontario woman who operated a boat after drinking. R.…

News LegalRisk

Failure to describe corruption risk cost this firm $30 million

December 18, 2018 by Ian Bickis - THE CANADIAN PRESS

TORONTO – Katanga Mining Ltd. will pay $30 million to the Ontario Securities Commission for misleading statements, its failure to properly disclose risks around operating in the Democratic Republic of Congo and its reliance on a controversial billionaire businessman. A…