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Risk Management


News CatastrophesInsurance

Opinion: COVID is nasty and impactful, but it’s not a Black Swan

May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction

Since the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak

News BrokersInsurance

Cyber risks involved with digital contact tracing

May 19, 2020 by Adam Malik

Health officials are recommending time-honoured techniques to help reduce the spread of the novel coronavirus. Today’s technology can make these methods more effective than they’ve ever been, a researcher argued recently, but that means people would have to sacrifice one

News Legislation / RegulationRisk

B.C. businesses grapple with new health protocols as reopening begins Tuesday

May 19, 2020 Brenna Owen - THE CANADIAN PRESS

VANCOUVER – As some British Columbia businesses prepare to reopen their doors on Tuesday when the province enters the second phase of its COVID-19 restart plan, others say they’re holding off while they grapple with new health protocols. Claire Wyrostok

News BrokersCommercial LinesInsuranceRisk

‘BI coverage’ misnomer puts the P&C industry behind the 8-ball: U.S. expert

May 14, 2020 by Adam Malik

The insurance industry set itself up for a public relations disaster when it comes to business interruption claims, and it should be prepared to be called out more often on the name given to the coverage, says one risk researcher.

News ClaimsRisk

Employment lawyers on returning to work during and after the pandemic

May 12, 2020 Nicole Thompson - THE CANADIAN PRESS

TORONTO – As provinces begin the slow process of reopening their economies and people start returning to the workplace, questions abound about the rights and responsibilities of employees and employers in the aftermath of COVID-19. The Canadian Press asked two

News BrokersInsuranceRiskTechnology

How COVID-19 may change the cyber insurance landscape

May 8, 2020 by David Gambrill

One long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to

News CatastrophesClaimsClimate ChangeInsurance

Opinion: Climate change isn’t pausing for the pandemic

May 7, 2020 Dr. Janis Sarra, Professor of Law, University of British Columbia

As the insurance sector adjusts to respond to challenges related to the novel coronavirus, flood season in Canada is beginning. Today, residents in Fort McMurray, Alta., are returning to clean up their flooded homes and businesses on the anniversary of

News CatastrophesClaimsClaims CanadaRisk

Dozens more die of COVID in Canada; Greyhound to shut down all service 

May 7, 2020 Colin Perkel - THE CANADIAN PRESS

TORONTO – Dozens more people in Canada have succumbed to COVID-19, authorities reported on Thursday, as one of the country’s major inter-city bus carriers announced it would be shutting down completely due to a precipitous drop in passengers forced by

News ClaimsClaims CanadaEngineering

Why home fire risk has increased in Ontario

May 5, 2020 THE CANADIAN PRESS

Ontario’s fire marshal says there’s been an increase in fire deaths this year as COVID-19 measures force many people to stay home and do more home cooking. Jon Pegg says there have been 51 fire fatalities between Jan. 1 and

News BrokersInsurance

How COVID-19 will forever change this line of business

May 1, 2020 by Jason Contant

COVID-19 has highlighted the concerns associated with clustering suppliers in one region, such as China. Supply chain risk is one area of insurance that will see changes in the post-pandemic world, according to Tracy McLean, senior vice president of global

News InsuranceTechnology

The ‘hidden’ cyber risks of remote work

May 1, 2020 by Greg Meckbach

Commercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar.

News AdjustersClaimsClaims CanadaLegal

Why it’s hard to determine liability when a plaintiff catches coronavirus in nursing home

May 1, 2020 by Greg Meckbach

Liability insurers and courts could be entering uncharted legal territory when dealing with class-action lawsuits against nursing homes or long-term care homes in which residents have become sick and died from the coronavirus. In some cases, a question before a