Segment
Risk Management
Regulator defends finding that Alberta’s largest earthquake was caused by oilpatch
March 30, 2023 Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion…
Alberta Energy Regulator to launch third-party probe of oilsands tailings leak
March 29, 2023 Bob Weber - THE CANADIAN PRESSEDMONTON – The Alberta Energy Regulator says it’s looking for an investigator to dig into releases of oilsands tailings and tailings-contaminated water that weren’t made public for nine months. In a statement Tuesday, the regulator said it’s seeking a “qualified,…
Questions raised about safety of Old Montreal building destroyed by fatal fire
March 27, 2023 Morgan Lowrie - THE CANADIAN PRESSMONTREAL – More than a week after a fatal fire tore through a building in Old Montreal, accounts from former tenants and victims of the blaze are raising questions about the safety of the heritage property. Five bodies had been…
Logging, forest loss may have awakened ancient B.C. landslides, at cost of about $1B
March 24, 2023 Brenna Owen - THE CANADIAN PRESSA series of ancient landslides have been “reawakened” in British Columbia’s Cariboo region, costing hundreds of millions in federal disaster assistance funds and prompting warnings that logging is connected to the problem. The slides and flooding in spring of…
Alberta premier says changes coming to ensure prompt reporting of oilsands spills
March 22, 2023 Dean Bennett - THE CANADIAN PRESSEDMONTON – Premier Danielle Smith says laggardly public notification of Imperial Oil oilsands wastewater spills has illuminated the need for Alberta to ensure future alarms are sounded quicker. Smith says her government is working with the province’s oilsands regulator to…
Ottawa requests joint ‘working group’ on oilsands contamination with Alberta
March 20, 2023 Bob Weber - THE CANADIAN PRESSFederal Environment Minister Steven Guilbeault has further spelled out what he wants to see in a new body that would oversee monitoring and communications around pollution problems in the oilsands. In a letter dated March 16 to his Alberta counterpart…
Cyberattack hits Canadian engineering giant with contracts for military bases, power plants
March 9, 2023 Lee Berthiaume - THE CANADIAN PRESSOTTAWA – A Canadian engineering giant whose work involves critical military, power and transportation infrastructure across the country has been hit with a ransomware attack. Toronto-based Black & McDonald has so far refused to publicly comment on the cyberattack, while…
New earthquake model considers eastern Canada risk
March 9, 2023 by Jason ContantAon plc has launched a new earthquake model for Canada, one that takes into account the well-known risk in western provinces but also the lesser-known risk in eastern Canada. The model is based on the latest scientific research from Natural…
What might cause the softening D&O market to stall?
March 8, 2023 Philip PoradoHard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several…
What the industry says about regulator’s draft corporate culture guidance
March 7, 2023 David GambrillCanada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing…
Oil well cleanup program listed as ‘key objective’ in Alberta’s pre-election budget
March 1, 2023 Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta Premier Danielle Smith’s last budget before an expected spring election gives strong support to a proposed tax break for energy companies to fulfill their legal cleanup duties but doesn’t tell voters how much would be spent on…
Federal disaster aid program being overhauled to include climate adaptation
February 27, 2023 Mia Rabson - THE CANADIAN PRESSOTTAWA – Canada’s overworked disaster assistance program is being overhauled so that future projects would only be eligible for aid if they take into account the need to adapt to climate change. Emergency Preparedness Minister Bill Blair, who was in…