Segment
Risk Management
Next step for $2-billion building collapse lawsuit against Loblaws
February 21, 2019 by Greg MeckbachA $2-billion class-action lawsuit against Canada’s largest food retailer could reach the Supreme Court of Canada. The bodily injury lawsuit against Loblaw Companies Limited was filed in 2015 in Ontario by victims of a 2013 commercial building collapse in Bangladesh.…
How this province is handling autonomous vehicle testing
February 21, 2019 by Greg MeckbachThe Ontario government wants to expand testing of autonomous vehicles in the province. “Our government is taking active steps to open the door for expanded testing related to connected and autonomous vehicles in Ontario,” Michael Parsa, parliamentary assistant to the…
How your client’s directors could be blamed for cyber losses
February 14, 2019 by Greg MeckbachCyber risk awareness is on the rise among corporate directors, who could face liability risk if they are accused of being lax on governance. “Corporate clients are more likely to be aware today, compared to a few years ago, of…
Behind on your digital strategy? Three ways to catch up quickly
February 13, 2019 by Jason ContantMerging with or buying digital firms, and cooperating with digital natives rather than trying to fight or resist them, can pay dividends for a majority of businesses, according to a blog published Tuesday by Harvard Business Review. The blog, 3 Digital…
Why your clients will buy insurance only after a disaster
February 12, 2019 by Jason ContantDue to six decision biases, consumers will typically not protect themselves against low-probability, high-consequence events until it is too late, a keynote speaker said recently at the CatIQ Connect conference in Toronto. When consumers decide not to purchase insurance or…
OSFI provides guidance on reporting cyber incidents
February 12, 2019 by Jason ContantMonths after Canada’s mandatory data breach notification law came into effect on Nov. 1, 2018, the Office of the Superintendent of Financial Institutions (OSFI) is now providing guidance on when to report cyber incidents to the financial regulator. In an…
New risk management measure mandatory for all Canadian railways
February 12, 2019 Lauren Krugel - THE CANADIAN PRESSCALGARY – Canada’s transport minister has ordered the use of handbrakes on all trains stopped on mountain slopes following a deadly derailment earlier this week in the Rocky Mountains. Marc Garneau said in a statement late Friday that the order…
Why leaking sewers are contributing to higher flood risk
February 11, 2019 by Jason ContantBrand new storm and sanitary sewers are leaking water at an unacceptable rate, putting individual homes at higher risk of flooding, a civil engineer said last week at the CatIQ Connect conference in Toronto. “We have allowable leakage, a little…
The “perfect storm” conditions for commercial rate increases
February 4, 2019 by Jason ContantThe past few years have created a perfect storm leading to an increase in commercial insurance rates, Signature Risk Partners Inc. says in a white paper released last week, entitled Hard Commercial Insurance Market on the Way. One factor is…
Transportation Safety Board involved in probe of crane collapsing on ship
February 1, 2019 THE CANADIAN PRESSVANCOUVER – The Transportation Safety Board is deploying a team of investigators to the Port of Vancouver following the collapse of a large crane onto a loaded container vessel. A statement from the safety board says the ship, the Ever…
Why the cyber market has become so crowded
January 31, 2019 by Greg MeckbachClients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
Don’t give up on commercial waivers
January 29, 2019 by Jason ContantProperly constructed and worded waivers will be upheld in court, with one commercial and insurance lawyer strongly recommending their continued use. “There are policies and procedures and ways to draft agreements where I promise you the waivers will be upheld,”…