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Risk Management

A fire in Old Montreal that gutted a heritage building.
News ClaimsClaims CanadaInsuranceMarkets / CoveragesRestorationRisk

Questions raised about safety of Old Montreal building destroyed by fatal fire

March 27, 2023 Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – More than a week after a fatal fire tore through a building in Old Montreal, accounts from former tenants and victims of the blaze are raising questions about the safety of the heritage property. Five bodies had been

An uneven stretch of road near Quesnel, B.C.
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Logging, forest loss may have awakened ancient B.C. landslides, at cost of about $1B 

March 24, 2023 Brenna Owen - THE CANADIAN PRESS

A series of ancient landslides have been “reawakened” in British Columbia’s Cariboo region, costing hundreds of millions in federal disaster assistance funds and prompting warnings that logging is connected to the problem.   The slides and flooding in spring of

Alberta Premier Danielle Smith at a press conference in February.
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Alberta premier says changes coming to ensure prompt reporting of oilsands spills

March 22, 2023 Dean Bennett - THE CANADIAN PRESS

EDMONTON – Premier Danielle Smith says laggardly public notification of Imperial Oil oilsands wastewater spills has illuminated the need for Alberta to ensure future alarms are sounded quicker. Smith says her government is working with the province’s oilsands regulator to

Tailings samples at an Imperial Oil research centre.
News Insurance

Ottawa requests joint ‘working group’ on oilsands contamination with Alberta

March 20, 2023 Bob Weber - THE CANADIAN PRESS

Federal Environment Minister Steven Guilbeault has further spelled out what he wants to see in a new body that would oversee monitoring and communications around pollution problems in the oilsands. In a letter dated March 16 to his Alberta counterpart

Canadian armoured forces vehicles
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Cyberattack hits Canadian engineering giant with contracts for military bases, power plants

March 9, 2023 Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – A Canadian engineering giant whose work involves critical military, power and transportation infrastructure across the country has been hit with a ransomware attack. Toronto-based Black & McDonald has so far refused to publicly comment on the cyberattack, while

A closeup of a seismograph machine needle drawing a red line on graph paper depicting seismic and earthquake activity - 3D render
News Commercial LinesConstructionInsuranceMarkets / CoveragesProductsRiskTechnology

New earthquake model considers eastern Canada risk

March 9, 2023 by Jason Contant

Aon plc has launched a new earthquake model for Canada, one that takes into account the well-known risk in western provinces but also the lesser-known risk in eastern Canada. The model is based on the latest scientific research from Natural

Corporate boardroom in chaos
News BrokersCommercial LinesInsuranceMarkets / Coverages

What might cause the softening D&O market to stall?

March 8, 2023 Philip Porado

Hard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several

Corporate culture celebrates accomplishments, diversity and teamwork
News BrokersInsuranceLegalLegislation / RegulationRisk

What the industry says about regulator’s draft corporate culture guidance

March 7, 2023 David Gambrill

Canada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing

Oil pumpjack in Alberta
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Oil well cleanup program listed as ‘key objective’ in Alberta’s pre-election budget

March 1, 2023 Bob Weber - THE CANADIAN PRESS

EDMONTON – Alberta Premier Danielle Smith’s last budget before an expected spring election gives strong support to a proposed tax break for energy companies to fulfill their legal cleanup duties but doesn’t tell voters how much would be spent on

People stranded by high water due to flooding in B.C.
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Federal disaster aid program being overhauled to include climate adaptation

February 27, 2023 Mia Rabson - THE CANADIAN PRESS

OTTAWA – Canada’s overworked disaster assistance program is being overhauled so that future projects would only be eligible for aid if they take into account the need to adapt to climate change. Emergency Preparedness Minister Bill Blair, who was in

Driver sleeping in self-driving car
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When will self-driving tech consistently prevent crashes?

February 17, 2023 Harrison Griffiths and Hannah Van Staveren

One aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier

Tesla is recalling nearly 363,000 vehicles with its "full self-driving" system.
News ClaimsInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Tesla recalls ‘full self-driving’ system to fix flaws in behaviour

February 16, 2023 Tom Krisher - THE ASSOCIATED PRESS

DETROIT (AP) – Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits. The recall, part of a larger investigation by U.S. safety regulators