A proposal to ban tobogganing at all but two municipal parks in a city east of Toronto was voted down after a lengthy council debate and a wave of public pushback. City staff in Oshawa, Ont., will instead look to…
Can reinsurers transfer cyber risk to the capital markets? We may be close to finding out. Recently, two announcements about the issuing of insurance-linked securities (ILS) show there’s a potential to create a broader reinsurance source for cyber risk, said…
A 10-year-old girl who died after a house fire on a northern Ontario First Nation might still be alive if firefighting and prevention resources her community has been seeking were in place, an organization representing 49 First Nations said Thursday. …
CALGARY – The estimated cost of the Coastal GasLink pipeline has increased by 29 per cent to $14.5 billion, as the company behind the project continues to be dogged by unexpected construction issues and rising labour costs. Calgary-based TC Energy…
HALIFAX – An American tourist who alleges she was injured in a fall at Nova Scotia’s historic Five Islands Lighthouse in July 2017 can proceed with her lawsuit, a Nova Scotia judge has ruled. Mary Riddle of Pennsylvania is suing…
EDMONTON – Alberta’s New Democrat Opposition says a government review of the program that’s supposed to ensure oilsands companies can clean up their mines was conducted too privately and should have been done in public. Environment critic Marlin Schmidt…
VICTORIA – Up to 50 earthquake early warning sensors are being installed around British Columbia as part of a larger plan to protect people and infrastructure in a big quake. The sensors will be connected to the national Earthquake Early…
While directors and officers (D&O) insurance is designed to cover individuals and corporate assets on the broadest threat level, certain exposures may require separate, dedicated policies focused on specific risks. When claim scenarios are investigated, it may become clear a…
Privacy is one of the four major risks associated with the metaverse — the expanding virtual universe of network connections — an industry expert told Canadian Underwriter recently. When developing a metaverse strategy, your commercial clients should look at operational,…
Middle market and non-specialty insurers will be the central targets of consolidators into 2024, and some may even withdraw entirely from the P&C insurance market, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance…
Final numbers for 2022 show another year of NatCats reaching over $3 billion in insured damages (and, at $3.1 billion, the third highest total NatCat losses in Canadian history). Those figures don’t just point to more insured damages losses for…
Cyber incidents are the new top business concern for Canadian companies in 2023, according to the Allianz Risk Barometer 2023. The top three risks in Canada are cyber incidents (35%), the skilled workforce shortage (33%) and climate change (29%),…