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Risk Management

Hurricane Fiona damage in Burnt Island, Nfld.
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

How busy will Atlantic hurricane season be?  

May 25, 2023 Seth Borenstein - THE ASSOCIATED PRESS 

Two clashing climatic behemoths, one natural and one with human fingerprints, will square off this summer to determine how quiet or chaotic the Atlantic hurricane season will be.   An El Nino is brewing and the natural weather event dramatically dampens

Businesswoman calculating finances in an office
News InsuranceMarkets / CoveragesReinsuranceRisk

OSFI to review earthquake risk and minimum capital tests 

May 25, 2023 by Jason Contant

Canada’s solvency regulator will take a closer look at earthquake risk and the minimum capital test (MCT) for P&C insurers, an executive from the Office of the Superintendent of Financial Institutions (OSFI) said during an industry event last week.  Earthquake

A structure destroyed by a wildfire in Drayton Valley, Alta.
News CatastrophesClaimsClaims CanadaInsuranceMarkets / Coverages

Rain could slow down record-breaking Alberta wildfires, officials say

May 23, 2023 Rob Drinkwater - THE CANADIAN PRESS

EDMONTON – Light rainfall and cooler temperatures slowed down wildfire activity in Alberta over the long weekend and more rain that’s in the forecast may help firefighters catch a breath during a record-breaking season of fires. “This could be a

Eco-friendly building in a modern city
News CatastrophesClimate ChangeConstructionEngineeringInsurance

Private investment needed to ramp up climate adaptation in infrastructure: report

May 16, 2023 The Canadian Press

A new report by the Canadian Climate Institute says private capital is needed to invest in climate adaptation infrastructure as extreme weather events like fires and floods become more acute by the year. The report co-authored by insurance firm The

Cargo containers at a port in Vancouver
News Commercial LinesInsuranceMarkets / Coverages

Vancouver port traffic dips in 2022, hinting at economic slowdown to come

May 3, 2023 Christopher Reynolds - THE CANADIAN PRESS

MONTREAL – Cargo volumes at Canada’s largest port fell by three per cent last year as the global economy began to show signs of a slowdown. Though grain and fertilizer exports surged in the second half of 2022, the gains

A burnt out neighbourhood following the Fort McMurray, wildfire.
News CatastrophesClimate ChangeCommercial LinesInsuranceProductsRiskTechnology

How many Canadian properties are at high risk of wildfire?

May 2, 2023 by Jason Contant

Approximately 300,000 properties across Canada are at a high wildfire risk, with another million carrying a minor risk of being impacted by wildfires during the typical mortgage term, according to Vancouver-based software and data analytics company Minerva Intelligence Inc. Minerva

Condos along the Bow River in Calgary
News ClaimsCommercial LinesInsuranceLegislation / RegulationMarkets / CoveragesRisk

Why condo corporations need an extra ‘financial cushion’ 

April 27, 2023 by Jason Contant

Canada’s national actuarial organization is recommending legislation that would require condo corporations to hold in their reserve funds a “financial cushion” above what’s required by a reserve fund study.  “That cushion protects corporations from adverse deviations from increased expenditures (among

Aerial photo of Alberta oilsands
News Climate ChangeInsuranceMarkets / Coverages

Oilsands emissions could be underestimated by current measuring methods, study says

April 24, 2023 Bob Weber - THE CANADIAN PRESS

New federal research suggests greenhouse gas emissions from the Alberta oilsands may be significantly underestimated, adding to a growing pile of studies that say our understanding of what is going into the atmosphere is incomplete. In a paper published last

Cyber thief in black gloves hides a stolen hard drive
News ClaimsClaims CanadaCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

Break-in at government office results in privacy breach

April 21, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says a break-in at its Department of Education, Culture and Employment headquarters in Yellowknife has resulted in a privacy breach affecting about 3,000 people. The government says the break-in occurred early on Sunday and

Torrential rain in Montreal
News InsuranceRisk

Spring flooding: Montrealers warned to pack emergency kits as water levels rise

April 17, 2023 The Canadian Press

MONTREAL – Rain is in the forecast this week across Quebec and officials are monitoring lakes and rivers at risk of flooding. Martin Guilbault with Montreal’s fire department says the city is on alert as the risk of flooding is

Data breach concept
News InsuranceMarkets / CoveragesTechnology

Northwest Territories government spent $716,000 to address cybersecurity breach

April 13, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says it spent $716,000 to address a cyberattack in November. It says it signed two work orders under existing contracts to help with containment, investigation and response efforts. The territory says the cybersecurity threat

Percentage sign with up or down arrow
News Earnings / RatingsInsuranceRisk

Bank of Canada holds key interest rate at 4.5%, bumps up growth forecast for 2023

April 12, 2023 The Canadian Press

OTTAWA – The Bank of Canada is once again holding its key interest rate steady at 4.5 per cent but isn’t ruling out the possibility of more rate hikes down the line. The central bank said Wednesday that recent economic