IBAC reacts to federal election
September 21, 2021 by Greg MeckbachAs the results from Monday’s federal election come in, your national industry association is promising to educate new members of parliament on why it’s important to keep banking and insurance in separate industry silos. “We congratulate Prime Minister [Justin] Trudeau…
IBAO reacts to possibility of credit unions selling insurance
November 19, 2020 by Greg MeckbachOntario’s broker association is keeping a close eye on a provincial government proposal to relax restrictions on credit unions selling insurance in branches. “We believe there is a public consultation that is going to take place in 2021, so we…
How the Big 5 banks insure their directors’ liability
March 18, 2019 by Greg MeckbachCanada’s five biggest banks are paying nearly $8 million a year collectively in premiums, for billions in directors’ and officers’ liability insurance with no deductibles, recent security filings show. The total coverage limit and the circumstances under which those policies…
How Canada’s largest banks manage cyber risk
November 23, 2018 Armina Ligaya - THE CANADIAN PRESSTORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an…
Why cyber criminals may be targetting this Canadian bank
November 8, 2018 Armina Ligaya - THE CANADIAN PRESSTORONTO – The Canadian Imperial Bank of Commerce is one of the most commonly targeted brands used by cyberthieves in phishing attacks across North America, with a more than 600 per cent surge in fake email attempts in the third…
The industry that’s shopping for cyber insurance
October 11, 2018 by Greg MeckbachBrokers looking for new large cyber accounts might want to knock on doors of companies who look after other people’s money. More than half (55%) of Canadian asset managers surveyed said they intend to purchase insurance to protect themselves against…
Insurance claims & expenses up 15% for TD
August 25, 2016 by Canadian UnderwriterThe wildfire in May that resulted in the evacuation of Fort McMurray Alberta is one factor in the 15% year-over-year increase in insurance claims and related expenses for the Toronto Dominion Bank. TD released Thursday its financial results for the…