These risks call for better models
May 22, 2019 by Greg MeckbachCommercial clients need better tools to help risk managers predict their financial exposure to climate change and geopolitical factors, Canadian risk managers say. The risk from climate change “will be pervasive and have a massive impact and it’s something that…
Where Fairfax is going with future acquisitions
February 19, 2019 by Greg MeckbachWhile Fairfax Financial Holdings Ltd. is not ruling out the possibility of buying small specialty insurance players, don’t expect the firm to buy any big insurers any time soon. Toronto-based Fairfax, whose holdings include Northbridge Insurance, bought the majority of…
New app centralizes and digitizes the entire insurance lifecycle
November 1, 2018 by Jason ContantAn artificial intelligence company based in Montreal has launched an application to centralize and digitize the entire insurance lifecycle. Koïos Intelligence, which develops AI tools designed specifically for the finance and insurance industries, unveiled Olivo at the Fintech Forum at…
Saskatchewan commercial brokerage joins Navacord
October 9, 2018 by Greg MeckbachCommercial brokerage Henderson Insurance Inc. will become Navacord Corp.’s newest member effective Nov. 1, the companies announced Tuesday. With offices in Regina and Moose Jaw, Henderson is Navacord’s first broker partner in Saskatchewan. The terms of the partnership were not…
Airbnb asks federal government for regulation
August 20, 2018 Jordan Press - THE CANADIAN PRESSOTTAWA – One of the world’s largest short-term rental websites is inviting the Trudeau Liberals to create a regulatory regime for the burgeoning industry – something its critics have long advocated and raising pressure on the government to set rules…
Questions to ask clients who serve alcohol
July 30, 2018 by Jason ContantRisk managers in the restaurant and bar business need to “mine” for information from potential insureds to make sure they exercise their duty of care in serving alcohol responsibly. “From a risk management standpoint, what’s key is the insured is…
Trade war? There may be insurance for that
July 22, 2018 by David GambrillAs the U.S. Commerce Department contemplates imposing a 25 per cent tariff on all vehicles imported into the United States, including vehicles from Canada, risk managers are starting to contemplate where all of this heightened rhetoric around protectionism may take…
New risks arising from Canadian arctic shipping
July 17, 2018 by Greg MeckbachAs shrinking arctic ice opens up of new shipping routes through Canada’s Arctic Archipelago, this presents challenges for risk managers and insurers, Allianz Global Corporate and Specialty suggests in a report scheduled for release Wednesday. “Arctic ice has been thinning and…
Canadian benchmark interest rate up 0.25 percentage points
July 11, 2018 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions. The rate hike was the central bank’s…
Major Canadian retailer finds cyberattacks “more difficult to detect”
May 31, 2018 by Greg MeckbachCyber threats are becoming “more difficult to detect,” a major Canadian retailer suggested Tuesday. Indigo Books and Music Inc., whose holdings include the Chapters and Coles book chains, “may be required to expend significant additional resources” to protect against threats…
Retailers ‘should be able to detect’ cyber attacks: lawyer
May 2, 2018 by Greg MeckbachA breach of customer payment card information involving Saks Fifth Avenue has taken a cyber risk lawyer by surprise. In July 2017, “malware began running on certain point of sale systems at potentially all Saks Fifth Avenue, Saks OFF 5TH…
Fairfax Financial board includes former RSA CEO Bob Gunn
May 1, 2018 by Greg MeckbachFormer chief executives of RSA and Guy Carpenter & Company LLC were elected to new terms on the board of directors of Fairfax Financial Holdings Ltd., Toronto-based Fairfax announced Friday. Fairfax, the corporate parent of Northbridge Insurance and OdysseyRe, held…