Canadian Underwriter

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Risk Management


Thermometer in the sky
News Insurance

Policy revamp might save lives in next heat dome, experts say

June 27, 2022 Dirk Meissner - THE CANADIAN PRESS

VICTORIA -She died in the arms of firefighters. The 96-year-old woman now lingers in the memory of Chief Jim Ogloff of the Coquitlam Fire Department, a reminder of the impact of last summer’s heat dome disaster on vulnerable residents of

News AnnouncementsAssociationsBrokersInsuranceLegislation / Regulation

Don Forgeron to retire from Insurance Bureau of Canada

June 23, 2022 by Alyssa DiSabatino

Don Forgeron will retire as president and CEO of the Insurance Bureau of Canada after a tenure of almost 30 years. He will also retire as a member of the IBC’s board of directors. The search for Forgeron’s successor will

Protest at an oil and gas site
News Insurance

Why portfolio simplification and shareholder activism matter

June 21, 2022 by Jason Contant

To successfully lead a company through an era of constant change, a CEO should consider simplifying the company’s portfolio and prepare for shareholder activism, a Harvard Business Review blog says. Inflation, geopolitics, supply chain issues, labour costs, divisiveness, unsettled equity

A landslide destroyed a house and forced evacuations in Saguenay, Que.
News Insurance

Quebec extends state of emergency in Saguenay because of landslide threat

June 21, 2022 The Canadian Press

MONTREAL – Quebec is extending a state of emergency in a city north of Quebec City where a neighbourhood is threatened by landslides. Public Security Minister Genevieve Guilbault tweeted late Monday afternoon that she signed a decree allowing Saguenay to

Economic crisis and related business therms word cloud written with chalk on black board. There is a big arrow chart moving down. A businessman seen from the back is looking at the blackboard
News Commercial LinesInsuranceMarkets / CoveragesRisk

P&C industry fastening its seatbelt for risk of global recession

June 20, 2022 by David Gambrill

Fresh from emerging from a global pandemic, Canada’s P&C insurance industry is turning its mind toward the next item on its global risks list – the threat of an economic recession. Global economic recession topped the list of potential 2023

Damage following the Barrie tornado in July 2021
News Insurance

The cheaper we build our buildings, the more they cost after an earthquake, wildfire or tornado

June 17, 2022 Keith Porter

By Keith Porter, adjunct research professor, civil and environmental engineering, Western University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original

Riot police dealing with a protest and fire on a city street.
News CatastrophesClaimsCommercial LinesConstructionInsuranceReinsuranceRisk

How to help your clients prepare for civil unrest

June 16, 2022 Philip Porado

Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a

Robot holding a brain to represent artificial intelligence.
News ClaimsCommercial LinesInsuranceMarkets / CoveragesProductsReinsuranceRisk

How do you insure artificial intelligence?

June 15, 2022 Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

A man stands with his hands on his hips in front of a beam of light that is coming in from an entrance of a dark tunnell
News BrokersClaimsInsuranceReinsurance

Why you can expect to be in the hard market a year from now

June 15, 2022 by Alyssa DiSabatino

Inflationary pressure will prolong the hard market for at least another year if not longer, 90% of more than 200 respondents predicted in a Canadian Underwriter webinar poll. Only 10% of respondents were optimistic the hard market would not be

Canadian flag beside the word 'military' on a keyboard
News Insurance

Personal information about more than 100 military sex misconduct claimants leaked

June 15, 2022 Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – The company overseeing the federal government’s $900-million settlement deal with military members who experienced sexual misconduct in uniform is admitting to more privacy breaches, despite repeated promises to have fixed the problem. Epiq Class Action Services Canada confirmed

Humorous mobile cloud computing conceptual image
News ClaimsCommercial LinesInsuranceRiskTechnology

How your large business clients can manage cyber risks they can’t see

June 14, 2022 by David Gambrill

In the wake of lifting of pandemic restrictions, digital transformation is becoming so extensive that organizations are having trouble getting a handle on their broadening cyber exposures. “As organizations grow and incorporate digital and cloud transformation into the fabric of

Network and cybersecurity concept
News Insurance

Key enterprises could face penalties under federal bill to bolster cybersecurity

June 14, 2022 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Key enterprises in the banking, telecommunications and transportation industries would be among those required to bolster cybersecurity and report digital attacks – or possibly face penalties – under a federal bill introduced Tuesday. The legislation is intended to