ICBC says COVID-19 rebate cheques delayed after cyberattack on third party
March 18, 2021 The Canadian PressVANCOUVER – The Insurance Corporation of British Columbia says it’s temporarily delaying the delivery of COVID-19 rebate cheques due to a cyberattack on a third-party vendor contracted to provide printing and distribution services. ICBC says in a statement the vendor…
Are you offering insurance products that your clients want during the pandemic?
March 16, 2021 by Jason ContantSeven in 10 consumers and small business owners want home protection and usage-based insurance policies for the current remote working environment, a recent survey from Ernst & Young found. “With consumers spending more time at home and online, new concerns…
Feds seek post-pandemic ideas to prepare for next major disaster
March 16, 2021 The Canadian PressOTTAWA – The federal government is looking beyond COVID-19 to prepare for the next large-scale calamity – be it another pandemic, a tsunami or cyberattack. In a notice posted today, Defence Research and Development Canada seeks proposals for studies, technology…
Proposed class action filed in Saskatchewan over COVID-19 outbreaks in long term care
March 11, 2021 Stephanie Taylor - THE CANADIAN PRESSREGINA – A proposed class-action lawsuit has been filed in Saskatchewan against a long-term care operator alleging it lacked proper resources to handle COVID-19. Documents filed Thursday at Regina’s Court of Queen’s Bench say the novel coronavirus spread through different…
Going phishing with COVID as the lure: How many Canadians rose to the bait
March 9, 2021 by Jason ContantCanadian cyber insurers take note: Canada ranked within the Top 20 countries for COVID-themed cyber threat detections last year, according to cybersecurity company Trend Micro. Globally, Trend Micro detected nearly 16.4-million cyber threats over the course of 2020, including malicious…
Intact’s take on UK business interruption test case
March 9, 2021 by Greg MeckbachA recent British court ruling on business interruption does not change the economics of Intact Financial Corp.’s agreement to acquire a large part of London-based RSA, a senior Intact official confirmed Tuesday. In 2020, the Financial Conduct Authority brought eight…
RBC CEO sees inflationary pressure building as economy bounces back
March 9, 2021 Anita Balakrishnan - THE CANADIAN PRESSTORONTO – Royal Bank of Canada chief executive David McKay said Tuesday he foresees inflationary pressure building in the economy as it rebounds from the COVID-19 pandemic. With rising input prices for labour and commodities, it could create a challenge…
B.C. eases requirements, extends deadline for small business recovery grants
March 5, 2021 The Canadian PressVICTORIA – The B.C. government has eased the eligibility requirements and extended the deadline for small and medium-sized businesses applying for funds under its $345-million pandemic recovery grant program. Businesses with up to 149 employees must now show a 30…
Health Canada says vaccine boosters will be approved more easily
March 4, 2021 Mia Rabson, The Canadian PressOTTAWA — Health Canada says it won’t require new clinical trial data from vaccine makers on booster shots being developed to target new variants of COVID-19. Instead, the regulator will rely more heavily on lab tests on blood samples, which…
Is it time to ease up on the video calls?
March 4, 2021 by Adam MalikNew research shows the influx of video calls brought about by the COVID-19 pandemic is tiring people out. “Zoom” has become a verb to describe videoconference meetings, said professor Jeremy Bailenson, founding director of the Stanford Virtual Human Interaction Lab.…
February auto sales down 10% from year ago due to lockdowns and supply chain disruptions
March 3, 2021 The Canadian PressTORONTO – Canadian auto sales in February were down nearly 10 per cent compared with February 2020, the last full month before the lockdowns began due to the COVID-19 pandemic. According to estimates compiled by DesRosiers Automotive Consultants auto sales…
Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute
March 2, 2021 by Greg MeckbachThe British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.…