Canada’s 3 top business risks
January 19, 2022 by Alyssa DiSabatinoBusiness interruption, cyber incidents, and climate change have been dubbed the Top 3 risks facing Canadian businesses this year, according to a new report. Although these were Canada’s Top 3 risks, Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer…
Why the D&O market will probably get harder
December 15, 2020 by Greg MeckbachData 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…
How pandemic is making a common marine risk problem worse
July 16, 2020 by Greg MeckbachThe pandemic is making it difficult for shipping companies to get spare parts and technical professionals aboard to perform essential maintenance and repair, a new report from Allianz Global Corporate & Specialty suggests. For the insurance industry, the most common…
How COVID-19 impacts maritime risk
June 9, 2020 by Greg MeckbachRestrictions imposed on international travel to limit the spread of COVID-19 may be a concern for merchant shipping because crews could be overdue for a rest, Allianz Global Commercial Specialty suggests in a recent paper. “Due to closed international borders…
The three pandemic BI exclusions at the centre of a class action lawsuit
May 22, 2020 by Greg MeckbachA Laval area restaurant that says it has lost more than $700,000 in two months as a result of the pandemic is not taking no for an answer from the insurer, who says business interruption coverage does not apply because…
How D&O insurance is entering unknown territory
December 11, 2019 by Adam MalikGone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the…
What vulnerabilities are getting in the way of insurance?
October 18, 2019 by Adam MalikInsurance leaders are aware they’re not moving fast enough to keep up with change, be it around technological or customer expectations. But, as they said at a recent summit, they have no choice but to figure it out. For Pat…
Why now is the time to shine for risk managers
September 24, 2019 by Adam MalikFacing increasingly difficult market conditions means now’s the time risk managers can prove their true worth, one expert told a recent panel. Steve Pottle, director of risk management at Thompson Rivers University in Kamloops, B.C., said that as renewal costs…
This is what’s putting the industry ‘at a tipping point’
September 20, 2019 by Adam MalikTechnology has been great for the insurance industry. But it’s also been creating problems, specifically creating a difficult market cycle. And it’s not the only reason why one panellist at the recent RIMS Canada Conference said the industry is “at…
What makes wildfire modelling so difficult
August 9, 2019 by Greg MeckbachPredicting losses from wildfire is more difficult than for other natural hazards like wind and earthquake, a risk control expert for one insurer suggests. Catastrophe models that predict losses come from research on how wind and ground motion affects buildings,…
Not doing this simple thing can cause a whole building to burn down
August 2, 2019 by Greg MeckbachWhile cleaning roof gutters is often touted as a flood risk mitigation measure, it can also address wildfire risk. Commercial clients in areas at risk of wildfire need to remove all tree droppings from roofs – and that includes the…
New chief agent in Canada for Allianz Global Corporate & Specialty
July 16, 2019 by Greg MeckbachLinda Regner Dykeman is the new chief agent in Canada for German commercial insurer Allianz Global Corporate & Specialty SE. She replaces Ulrich Kadow, who is now global head of marine for Munich-based AGCS, which has offices in Toronto, Montreal…