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Regulator’s pilot project to start scenario-testing for climate change risks

January 7, 2021 by David Gambrill

Canada’s solvency regulator has introduced a pilot project in 2021 to conduct scenario testing of the impact of various climate-related risks on financial institutions’ bottom lines. “The first step of the pilot project is to develop a Canada-relevant set of

News Insurance

Government travel controversies expose need for risk management plans, experts say

January 5, 2021 Brett Bundale - THE CANADIAN PRESS

The backlash against Canadian politicians who travelled to warmer climes over the holidays despite public health warnings to stay home is a wake-up call that organizations need clear risk management plans, experts say. The fallout of ignoring travel restrictions could

News Insurance

B.C. lacks plans for rising seas, flooding: coastal adaptation researcher

December 21, 2020 Brenna Owen - THE CANADIAN PRESS

VANCOUVER – Parts of British Columbia could see massive losses if the province doesn’t start planning for flooding as ocean waters rise and storms surge due to climate change, says a researcher at the University of B.C. in Vancouver. B.C.

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RCMP commits to changes in how it collects, uses information about protesters

December 18, 2020 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The RCMP has agreed to revamp its policies on the collection and use of information about protesters after a watchdog expressed fresh concerns, a notable shift from the police force’s position only months ago. RCMP Commissioner Brenda Lucki

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Why the D&O market will probably get harder

December 15, 2020 by Greg Meckbach

Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions

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Partial building collapse in London, Ont. kills two workers, injures four others

December 14, 2020 Colin Perkel - THE CANADIAN PRESS

TORONTO – Workers sifting through the rubble of a partially collapsed building in London, Ont., recovered the body of a second victim, city officials said on Sunday of the construction mishap that also killed the father of an infant. The

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Former Canadian Hockey League players detail allegations of abuse, hazing

December 11, 2020 The Canadian Press

TORONTO – Fourteen former Canadian Hockey League players have submitted affidavits detailing alleged abuse and hazing in a class-action lawsuit filed by two other ex-players. Former NHL player Daniel Carcillo and Garrett Taylor, who played in the Western Hockey League

Feature ClaimsClaims CanadaCommercial Lines

The show must go on

December 11, 2020 Scott Carroll, Executive Vice President, Program Director, Take1 Insurance

The new COVID landscape means looking for alternative ways to mitigate claims risk at live events

News Insurance

When phishing links are dangled before insurance professionals, do they go for the bait?

December 10, 2020 by Jason Contant

There’s good news and bad news when it comes to insurance industry employees clicking on phishing email links, according to a recent study from a Laval, Que.-headquartered security awareness training firm. The good news is that global “finance & insurance”

News CatastrophesClaimsClaims CanadaReinsuranceRisk

How Ottawa is trying to lower earthquake related property losses

December 7, 2020 by Greg Meckbach

Natural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,

News CatastrophesClaims CanadaRisk

Wildfire damage is not like a Godzilla attack. Why that matters to Cat modellers

December 7, 2020 by Greg Meckbach

A client’s structure can remain standing after a wildfire, even when other buildings in the same neighbourhood burn down, because dozens of factors affect a property’s risk, experts said Thursday during a webinar. “The interesting thing about wildfire is [that]

Feature ClaimsClaims CanadaCommercial LinesLegalRisk

‘The most litigated insurance concept’

December 6, 2020 Greg Meckbach, Associate Editor

A lot of things can go wrong when a client agrees to add a counter-party to a contract as an additional insured. Here’s what your clients can do to reduce the risk of a nasty coverage dispute