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Risk Management


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Supreme Court Orphan Well ruling: the impact on brokers one year later

March 4, 2020 by Greg Meckbach

If you place pollution liability coverage, you could be hearing from banks and lenders concerned about oil and gas producers potentially going bankrupt. Inquiries about environment impairment liability are on the rise for at least one major Canadian brokerage following

News InsuranceMarkets / CoveragesRisk

Bank of Canada cuts key rate amid coronavirus concerns

March 4, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus

News Climate ChangeInsuranceRisk

Considering your climate risks? The solvency regulator is, too…

March 3, 2020 by David Gambrill

Climate change risk is very much on the radar of Canada’s solvency regulator. In a mid-February speech to the 17th Annual Review of Insolvency Law (ARIL) Conference in Vancouver, B.C., Jeremy Rudin, Canada’s superintendent of financial institutions, outlined three climate-related

Feature ClaimsClaims CanadaCommercial LinesLegalRisk

Snowed Under

March 3, 2020 Naomi Grosman

Canada gets a lot of snow. So why is it so difficult to find snowplow insurance in this country?

News BrokersProductsReinsurance

Should you outsource your response to silent cyber?

February 28, 2020 by Jason Contant

Some insurers are specifically allocating internal resources to address silent cyber, while others are outsourcing it, speakers noted recently at NetDiligence’s Cyber Risk Summit in Toronto Feb. 21. Melinda Parker Thompson, an underwriting specialist with Allianz Global Corporate & Specialty

News InsuranceMarkets / Coverages

Desjardins Group reveals cost of 2019 data breach

February 26, 2020 The Canadian Press

MONTREAL – The Desjardins Group says last year’s theft of the personal data of its 4.2 million members ultimately cost the co-operative $108 million. The Quebec-based financial institution initially estimated the cost of a malicious employee’s breach – which also

News ClaimsEmploymentInsuranceLegislation / RegulationRisk

Privacy commissioners reveal how egregious employee snooping has become

February 25, 2020 by Jason Contant

Cases of egregious employee “snooping” in Alberta have exploded to the point where some affected individuals won’t even seek health treatment within their communities anymore, the province’s privacy commissioner said at a conference Friday. Jill Clayton, Alberta’s information and privacy

News Risk

How much are the risk pros making?

February 24, 2020 by Adam Malik

Canadian risk pros are making a median annual base salary of $101,000 as of June 1, 2019. That’s up 3.6% over the previous year, according to the Risk Management Compensation Survey published by the Risk and Insurance Management Society (RIMS).

News Risk

Police move to clear rail blockade on Tyendinaga Mohawk Territory

February 24, 2020 Adrian Wyld and Paola Loriggio - THE CANADIAN PRESS

TYENDINAGA MOHAWK TERRITORY, Ont. – Several protesters were detained Monday morning as provincial police moved in to clear a rail blockade on Tyendinaga Mohawk Territory in central Ontario that has brought freight and passenger rail traffic to a virtual standstill.

News InsuranceMarkets / CoveragesRisk

Ottawa eases speed restrictions imposed after Saskatchewan derailment

February 18, 2020 The Canadian Press

OTTAWA – Transport Minister Marc Garneau is easing speed restrictions placed on certain trains following a derailment in Saskatchewan earlier this month that spilled 1.2 million litres of crude oil and started a massive fire. Garneau says the move is

News Risk

CN Rail shuts down eastern Canada rail network

February 14, 2020 Laura Kane -  THE CANADIAN PRESS

Blockades set up by anti-pipeline protesters have forced Canadian National Railway Co. to shut down its entire network in Eastern Canada and Via Rail to cancel passenger service across the country. CN said Thursday that the company must initiate a

News Professional DevelopmentRisk

Why culture is so important for data-driven companies

February 14, 2020 by Jason Contant

The biggest obstacles to creating data-based businesses aren’t technical, they’re cultural, said David Waller, a partner and head of data science and analytics for Oliver Wyman Labs. “It is simple enough to describe how to inject data into a decision-making