Canadian Underwriter

Risk Management

A magnifiyng glass held above a map of Canada
News InsuranceRisk

2 risks keeping these business leaders up at night

July 12, 2022 by Alyssa DiSabatino

Québec businesses are more likely to prioritize business interruption and environmental risks than their counterparts in the rest of the country, according to a new report by Aviva.  However, both Québec and the rest of Canada are equally keen on

Silhouette Of Lonely Businessman Standing By Boardroom Table In Office.The chairs around table are empty.He looks desperate.The black and white color and dark atmosphere is used for economic depression feel.
News CatastrophesClaimsInsuranceRisk

What the industry needs to fund the bankruptcy of a Top 70 insurer

July 11, 2022 by David Gambrill

Canadian P&C insurers need a compensation fund four times bigger than its current size of $60 million to handle “systemic contagion” associated with the insolvency of a Top 70 P&C insurer or bankruptcy related to a major earthquake, says the

News ClaimsInsuranceRisk

Distracted driving sometimes takes a back seat to work priorities, drivers say

July 11, 2022 Canadian Underwriter Staff

Canadians object to distracted driving but a lot of them do it anyway, according to a 2022 distracted driving risk survey from Travelers Canada. A full 77% of those surveyed said distracted driving is ‘very risky and they take every

Two individuals walking in front of a Rogers storefront.
News BrokersInsuranceMarkets / CoveragesRisk

Are businesses covered for a telecom’s “maintenance oops”?

July 11, 2022 by Alyssa DiSabatino

Despite Interac payment systems and phone lines being down, most businesses will not have insurance coverage for any type of income loss as a result of the national Rogers outage on Friday, says one insurance expert.   The outage, which

Indemnity agreement on desk with pen and eye glasses.
News BrokersClaimsCommercial LinesInsuranceLegalRisk

How to advise clients on commercial contract indemnities

July 6, 2022 Michael Carey

Commercial contracts often contain indemnities, and brokers should be prepared to address issues pertaining to indemnities within those contracts. Some clients may ask what an indemnity is. Simply put, it’s a promise to compensate another person for certain costs and

Atlantic Ocean near Newfoundland
News Insurance

Three charges laid for 2019 spill from Newfoundland’s Hibernia offshore oil platform

July 6, 2022 The Canadian Press

ST. JOHN’S, N.L. – Newfoundland and Labrador’s offshore oil regulator is laying charges in connection with a 2019 oil spill in the Hibernia field, which sits about 315 kilometres off the coast of St. John’s. The Canada-Newfoundland and Labrador Offshore

Digitally generated modern and minimalist family house/villa in Nature with garage and a terrace.
News CatastrophesClaimsClimate ChangeInsuranceRisk

Why home insurers are more exposed to NatCats after the pandemic

July 4, 2022 by David Gambrill

When the pandemic, remote work and a hot housing market combined to cause more Canadians to buy homes in suburban and rural areas, home insurers may have become more exposed to NatCat losses, data from a recent Aviva study found

The barge that driftyed loose during a massive windstorm last year in Vancouver.
News Insurance

Vancouver plans for removal of beached barge, months after it washed up during storm

June 30, 2022 The Canadian Press

VANCOUVER – A timeline has finally been announced for the removal of a huge barge that wedged itself onto a beach in Vancouver’s English Bay last November. A statement from the City of Vancouver says a local pile driving firm

A person holds the steering wheel of a car with their left hand while their right hand hovers over the horn
News BrokersClaimsInsuranceLegalRisk

Distracted driving accelerates post-pandemic

June 29, 2022 by Alyssa DiSabatino

Ninety-eight per cent of Ontario drivers report witnessing unsafe driving behaviours over the past year — a 3% increase from the year previous — and yet only 58% admit to engaging in dangerous driving behaviours themselves, a CAA South Central

Flooded Calgary Stampede grandstand
News Insurance

Should Canada’s flood insurance program combine NFIP and Flood Re?

June 29, 2022 by Jason Contant

Canada could benefit from a flood protection program combining the features of the U.S. National Flood Insurance Program (NFIP) and U.K.’s Flood Re, says credit rating agency DBRS Morningstar, but that view is not entirely shared by Insurance Bureau of

Canadian flag in front of parliament in Ottawa
News Insurance

Some cities rethinking Canada Day parades amid rising insurance costs

June 29, 2022 Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – Canada Day celebrations are making a return after two years of scaled-down festivities because of the COVID-19 pandemic, but some Canadians hoping to catch a traditional parade may be out of luck. Several cities say the rising cost

Cropped shot of a young computer programmer looking through data
News InsuranceRiskTechnology

What the regulator’s focus on digital risk means for you

June 27, 2022 by David Gambrill

Expect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the