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Risk Management

News Commercial LinesInsurance

How commercial office buildings can improve their flood resilience

November 20, 2019 by Jason Contant

If your client is a commercial real estate building owner or manager in Canada, there are some major retrofits they can take to improve their flood resilience. While many of the measures – such as elevating and flood-proofing critical equipment,

News ClaimsInsurance

This is how much fire following an earthquake in Montreal could cost

November 19, 2019 by Jason Contant

A severe earthquake in the Montreal area could cause between $10 billion and $30 billion in economic losses from fire damage, according to a new study from the Institute for Catastrophic Loss Reduction (ICLR). “This loss would be virtually fully

News Risk

Can Canada weather a global financial storm?

November 19, 2019 The Canadian Press

MONTREAL – The global economic picture has worsened, increasing risks to global growth and chances of financial stress that could spill over into Canada, the senior deputy governor of the Bank of Canada said Tuesday. In a speech to the

News InsuranceRiskTechnology

The many roads to successful IFRS 17 implementation

November 18, 2019 by Jason Contant

When trying to implement an IFRS 17 solution in your insurance company, should you start fresh with a new solution, integrate into your existing systems, enlist the aid of a third-party provider or some or all of the above? The

News Risk

Family sues Quebec airline over alleged negligence

November 18, 2019 Holly McKenzie-Sutter - THE CANADIAN PRESS

ST. JOHN’S, N.L. – The family of a fishing guide who died in a Labrador floatplane crash this summer is suing the Quebec airline for damages, alleging negligence and breach of contractual duties. Seven men, including the pilot, were on

News InsuranceRisk

The moral of the Don Cherry story for risk managers

November 16, 2019 by Adam Malik

Don Cherry crossed a line, and it should have been no surprise to his employer’s risk managers that he made offending comments, says one risk management analyst. It all points to the need for employers to keep tabs on controversial

News Technology

Government computers slowly returning to normal after ransomware attack

November 15, 2019 The Canadian Press

IQALUIT, Nunavut – The Nunavut government is slowly returning to normal nearly two weeks after its computer systems were paralyzed by a cyber attack. Dean Wells, the territory’s chief information officer, says departments are beginning to come back online. Government

News CatastrophesClaimsInsurance

A new way to make insurance for high-risk homes in flood plains affordable

November 14, 2019 by Adam Malik

Amphibious architecture could be the key to mitigating flood risk and making insurance affordable for those living and working in floodplains, according to one expert. The technology allows structures to float as water levels rise. Amphibious construction and retrofitting of

News Legislation / Regulation

Bank of Canada official urges re-think of cyber regulations

November 14, 2019 David Paddon - THE CANADIAN PRESS

TORONTO – Government bodies and the private sector need more ways to share information about cybersecurity threats, and that may require new regulations or legislation, a Bank of Canada official said Tuesday. Filipe Dinis, the central bank’s chief operating officer,

News Insurance

Why electric luxury SUVs may give your liability claims costs a jolt

November 11, 2019 by Adam Malik

Several car makers have announced ambitious plans to go electric in the next decade or two, but as more electric vehicles (EVs) hit the streets, there could be an increased insurance risk, according to one insurer. With the growing popularity

News Risk

How D&O risks are changing in the mining sector

November 8, 2019 by Greg Meckbach

If you place directors and officers’ liability insurance for mining companies, the underwriter will want to know how the client manages risks such as pollution and shareholder litigation, a commercial broker advises. In lawsuits against directors and officers of mining

News Insurance

Lost binder exposes personal information of thousands

November 8, 2019 The Canadian Press

ST. JOHN’S, N.L. – Newfoundland and Labrador’s health department is apologizing for a privacy breach after a binder containing the personal information of 3,300 went missing almost two years ago. The department says it learned this October that a binder