Canadian Underwriter

Risk Management

Kirsten Andersen at AXA XL
News ClaimsInsuranceLegal

AXA XL names new underwriting manager in Canada

August 3, 2023 Canadian Underwriter Staff

Specialty insurance provider AXA XL has named Kirsten Andersen underwriting manager for its design professional insurance business in Canada. The business unit provides errors and omissions/professional liability insurance to architectural and engineering firms in Canada, according to the firm’s website.

Prime Minister Justin Trudeau speaks following a cabinet shuffle
News AnnouncementsCatastrophesClimate ChangeInsuranceMarkets / Coverages

Canada’s P&C insurers react to federal cabinet shuffle

July 27, 2023 by Jason Contant

Canadian property and casualty insurers will be working with new cabinet ministers in the areas of emergency preparedness, public safety (including cybersecurity and auto theft), and housing, infrastructure and communities (including climate resilience), following Prime Minister Justin Trudeau’s major cabinet

Person running away from a tidal wave or tsunami
News CatastrophesClaimsClimate ChangeInsurance

Can insurers and reinsurers survive looming NatCat trends?

July 21, 2023 Glenn McGillivray

One of the hallmarks of a warming world is that you never know what may come next. The reasonably stable climate of the last 100,000 years is being thrown into disarray as Earth’s systems are forced out of kilter. For

Opposing legal points of view
News Claims CanadaEngineeringInsuranceRisk

Fight for funding to protect land link between N.S. and N.B. goes to court

July 21, 2023 The Canadian Press

HALIFAX – The Nova Scotia government is asking the province’s Court of Appeal to determine who has jurisdiction over the works that protect a vital link between the province and New Brunswick. In a court document filed Wednesday, lawyers for

Global data breach
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

Nova Scotia identifies thousands more victims of data hack

June 15, 2023 Marlo Glass - THE CANADIAN PRESS

HALIFAX – Nova Scotia Cybersecurity Minister Colton LeBlanc says his department has identified thousands more people affected by a recent global data breach, and this week it is beginning the process of notifying the “most vulnerable” victims of the hack.

Wildfire smoke over Gatineau, Que.
News CatastrophesClaims CanadaInsuranceMarkets / CoveragesRestorationRisk

Feds looking to create national emergency response agency

June 9, 2023 Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – The federal government is looking at creating some kind of national disaster response agency in the face of an unusually intense and destructive start to the wildfire season across the country. At the moment, federal departments including Emergency

A strong forest fire
News ClaimsClaims CanadaInsuranceMarkets / Coverages

Quebec city declares state of emergency as forest fires multiply

June 2, 2023 The Canadian Press

MONTREAL – A city on Quebec’s north shore has declared a state of emergency as forest fires rage in the vicinity. Sept-Iles Mayor Steeve Beaupre says certain sectors of the city have been ordered to evacuate by 4 p.m. today

Cybersecurity concept
News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentRiskTechnology

Feds developing cybersecurity process for defence contractors  

June 1, 2023 Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – The federal government says certain defence contracts will be subject to a mandatory cybersecurity certification process starting in the winter of 2024.   Defence Minister Anita Anand made the announcement Wednesday morning at the Canadian Association of Defence and

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