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A burnt out neighbourhood following the Fort McMurray, wildfire.
News CatastrophesClimate ChangeCommercial LinesInsuranceProductsRiskTechnology

How many Canadian properties are at high risk of wildfire?

May 2, 2023 by Jason Contant

Approximately 300,000 properties across Canada are at a high wildfire risk, with another million carrying a minor risk of being impacted by wildfires during the typical mortgage term, according to Vancouver-based software and data analytics company Minerva Intelligence Inc. Minerva

Condos along the Bow River in Calgary
News ClaimsCommercial LinesInsuranceLegislation / RegulationMarkets / CoveragesRisk

Why condo corporations need an extra ‘financial cushion’ 

April 27, 2023 by Jason Contant

Canada’s national actuarial organization is recommending legislation that would require condo corporations to hold in their reserve funds a “financial cushion” above what’s required by a reserve fund study.  “That cushion protects corporations from adverse deviations from increased expenditures (among

Aerial photo of Alberta oilsands
News Climate ChangeInsuranceMarkets / Coverages

Oilsands emissions could be underestimated by current measuring methods, study says

April 24, 2023 Bob Weber - THE CANADIAN PRESS

New federal research suggests greenhouse gas emissions from the Alberta oilsands may be significantly underestimated, adding to a growing pile of studies that say our understanding of what is going into the atmosphere is incomplete. In a paper published last

Cyber thief in black gloves hides a stolen hard drive
News ClaimsClaims CanadaCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

Break-in at government office results in privacy breach

April 21, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says a break-in at its Department of Education, Culture and Employment headquarters in Yellowknife has resulted in a privacy breach affecting about 3,000 people. The government says the break-in occurred early on Sunday and

Torrential rain in Montreal
News InsuranceRisk

Spring flooding: Montrealers warned to pack emergency kits as water levels rise

April 17, 2023 The Canadian Press

MONTREAL – Rain is in the forecast this week across Quebec and officials are monitoring lakes and rivers at risk of flooding. Martin Guilbault with Montreal’s fire department says the city is on alert as the risk of flooding is

Data breach concept
News InsuranceMarkets / CoveragesTechnology

Northwest Territories government spent $716,000 to address cybersecurity breach

April 13, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says it spent $716,000 to address a cyberattack in November. It says it signed two work orders under existing contracts to help with containment, investigation and response efforts. The territory says the cybersecurity threat

Percentage sign with up or down arrow
News Earnings / RatingsInsuranceRisk

Bank of Canada holds key interest rate at 4.5%, bumps up growth forecast for 2023

April 12, 2023 The Canadian Press

OTTAWA – The Bank of Canada is once again holding its key interest rate steady at 4.5 per cent but isn’t ruling out the possibility of more rate hikes down the line. The central bank said Wednesday that recent economic

Natural gas wellhead on the Canadian prairies
News ClaimsCommercial LinesInsuranceRisk

Canadian oil and gas sector routinely targeted by cyberattackers, experts say

April 11, 2023 The Canadian Press

CALGARY – Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked U.S. intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s natural gas distribution network. They say oil and gas infrastructure in Canada

A data centre with multiple rows of servers
News Commercial LinesInsuranceMarkets / CoveragesRiskTechnology

One simple question your cyber clients can’t answer

April 4, 2023 by Jason Contant

Your cyber clients likely don’t know the answer to basic questions such as what is being done on a particular server, or even how many computer servers the company has, an expert from a cyber response and recovery firm said

News ClaimsClaims CanadaInsuranceMarkets / CoveragesRestoration

First responders graduate from new Ontario First Nation fire program

April 4, 2023 Fakiha Baig - THE CANADIAN PRESS

A tribal council that represents five First Nations in northwestern Ontario says the first batch of local emergency medical responders from a new training program has graduated and will serve Pikangikum First Nation. The Independent First Nations Alliance says it

Drilling rig in Alberta
News InsuranceMarkets / Coverages

Regulator defends finding that Alberta’s largest earthquake was caused by oilpatch

March 30, 2023 Bob Weber - THE CANADIAN PRESS

EDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion

Alberta oilsands
News ClaimsInsuranceLegislation / RegulationMarkets / CoveragesRisk

Alberta Energy Regulator to launch third-party probe of oilsands tailings leak

March 29, 2023 Bob Weber - THE CANADIAN PRESS

EDMONTON – The Alberta Energy Regulator says it’s looking for an investigator to dig into releases of oilsands tailings and tailings-contaminated water that weren’t made public for nine months. In a statement Tuesday, the regulator said it’s seeking a “qualified,