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Risk Management

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Meet Zurich’s new chief risk officer for Canada

February 25, 2021 by David Gambrill

Sonia Kundi is Zurich North America’s new chief risk officer for Canada. She has joined the Zurich North America group risk management team, effective immediately, and reports to North America Chief Risk Officer Colleen Zitt. In addition to being a

News Insurance

Would your client actually buy a pandemic risk product?

February 25, 2021 by Jason Contant

Even if insurance products were available for pandemic risk specifically, several businesses say they wouldn’t anticipate becoming more dependent on risk financing or insurance as a result, according to the results of a global survey from Aon. Few companies have

News Insurance

3 Canadian cities more prepared for flood now than they were five years ago

February 19, 2021 by Jason Contant

There’s good and bad news when it comes to the flood preparedness of 16 major Canadian cities. The bad news is that the average level of flood preparedness has remained stagnant from 2015 to 2019-20, showing a considerable margin for

News Insurance

Nearly two-thirds of small businesses would use rapid testing of employees: survey

February 19, 2021 The Canadian Press

OTTAWA – Nearly two-thirds of Canadian small businesses would consider using rapid testing to screen employees if it would help their business to stay open, says a recent survey. The Canadian Federation of Independent Business says 63 per cent would

News Insurance

How to increase the take-up of earthquake insurance

February 18, 2021 by Jason Contant

When broader government assistance is available for earthquake insurance, the take-up rates for private earthquake insurance appear to be suppressed, according to a new study on the difference between earthquake insurance rates in B.C.’s Lower Mainland and neighbouring Washington State

News Insurance

B.C.’s Simon Fraser University reports cyberattack, some personal information exposed

February 18, 2021 The Canadian Press

BURNABY, B.C. – Simon Fraser University says a cyberattack on a school server has exposed personal information. The British Columbia university says in a statement that spreadsheet data on the breached server contained personal information for a number of current

News ClaimsClaims CanadaRisk

The lesson for risk managers in this breach-of-contract lawsuit

February 17, 2021 by Greg Meckbach

A recent Supreme Court of Canada ruling in a breach-of-contract lawsuit means risk managers need to be careful about drafting agreements that give parties discretionary powers, a Toronto-based litigation lawyer warns. Wastech Services Ltd. v. Greater Vancouver Sewerage and Drainage

News Insurance

Audit finds ‘no formal tracking’ of IT security incidents at Public Safety Canada

February 17, 2021 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – An internal review has uncovered weak security practices when it comes to information technology at Public Safety Canada – from lax controls on the use of portable flash drives to inadequate awareness and training. The review found employees

News ClaimsClaims CanadaLegalRisk

Insurers beware: Why your settlements may not be secure

February 16, 2021 by Canadian Underwriter

A record-keeping blunder more than 50 years ago means London, Ont.’s Catholic diocese faces a new multi-million-dollar lawsuit over sexual abuse during the early 1970s of an elementary school student by a priest. The Supreme Court of Canada announced Feb.

News Insurance

Next round of funding available to clean up inactive Alberta oil and gas sites

February 16, 2021 The Canadian Press

EDMONTON – Alberta and the federal government say another $400 million in funding is available to help clean up inactive oil and gas sites in the province. The money includes $100 million for clean up in Indigenous communities. The rest

News Insurance

Internal data show surge in harassment complaints at Canada Revenue Agency, RCMP

February 11, 2021 Christopher Reynolds - THE CANADIAN PRESS

OTTAWA – Complaints of workplace harassment and violence have risen sharply at several federal departments and agencies in recent years, according to internal data. The Canada Revenue Agency (CRA) saw harassment complaints jump 82 per cent to 166 between 2016-17

News ClaimsClaims CanadaCommercial LinesRiskTechnology

What the P&C industry is telling Wall Street about cyber risk

February 9, 2021 by Greg Meckbach

Commercial 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