Segment
Risk Management
Majority of cybersecurity executives expect to budget more to cope with COVID: study
December 4, 2020 The Canadian PressTORONTO – A new study estimates more than half of executives responsible for cybersecurity expect to grow their budgets in response to new challenges raised by the COVID pandemic. Consulting firm PwC Canada says a poll of 3,000 executives around…
Investors increasingly asking about insurers’ environmental practices: CFOs
December 2, 2020 by Jason ContantInvestors are increasingly asking insurers about environmental, social and corporate governance (ESG) practices and how they are being managed, Intact Financial Corporation’s senior vice president and chief financial officer, Louis Marcotte, said recently. “In some cases, when we meet investors,…
Auditor general says N.S. slow to act on cybersecurity amid increasing risk
December 1, 2020 The Canadian PressHALIFAX – Nova Scotia’s auditor general says the COVID-19 pandemic is highlighting the need for more robust cybersecurity and anti-fraud measures as government employees are forced to work remotely. However, he says the provincial government isn’t working fast enough to…
$5-million cyber claim for phishing scam heads to top court
November 30, 2020 by Greg MeckbachA $5-million coverage dispute with The Co-operators that arose from a phishing attack is headed to the Supreme Court of Canada. Canada’s top court is booked Dec. 7 to hear arguments in Co-operators General Insurance Company v. Sollio Groupe Coopératif.…
How COVID-19 workplace risk advice has evolved
November 26, 2020 by Greg MeckbachAs the pandemic enters its ninth month, risk managers are seeing more emphasis on the length of conversations and the importance of wearing proper masks. “The key thing now is the length of contact with somebody else. Right now, if…
Cyber insurance: Most frequent and costly claims revealed
November 24, 2020 by Jason ContantExternal attacks on companies result in the most expensive cyber insurance losses, but internal failures like employee mistakes and technical problems are the most frequent generator of claims by number (albeit with a lower financial impact), a new report says.…
Independent report calls for major changes to rid RCMP of ‘toxic’ culture
November 20, 2020 Jim Bronskill - THE CANADIAN PRESSOTTAWA – An independent report on harassment of women in the RCMP says fundamental change is needed to rid the national police force of a toxic culture that tolerates hateful and homophobic attitudes. The report released Thursday by former Supreme…
Bank of Canada and OSFI team up for pilot project on climate change risk
November 18, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – Canada’s top central banker is making a plea for the country to more quickly address the impacts of climate change to avoid any economic ripple effects on households and businesses. Tiff Macklem made the case in a speech…
Powerful winds, high tides raise flooding concerns as storm sweeps across B.C.
November 17, 2020 The Canadian PressVANCOUVER – Much of coastal British Columbia is braced for a brief but powerful windstorm while snowfall and winter storm warnings stretch from the inland north coast all the way to the northeast corner of the province. Environment Canada says…
Lessons for the industry from pandemic business interruption coverage disputes
November 10, 2020 by Greg MeckbachMassive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private…
GM recalls 217,000 vehicles to fix leak that can stop travel
November 10, 2020 The Associated PressDETROIT – General Motors is recalling more than 217,000 cars and SUVs in the U.S. and Canada because transmission oil can leak, causing them to stop moving or possibly catch fire. The recall covers certain versions of the 2018 through…
Track failure led to train derailment in northern B.C.: safety board
November 5, 2020 The Canadian PressRICHMOND, B.C. – The Transportation Safety Board says a track failure contributed to the derailment of a freight train in northern British Columbia in January. No one was hurt when 34 cars carrying wood pellets on the Canadian National Railway…