The real risk to SMEs from data breaches
December 4, 2018 by Jason ContantChanges to Canadian privacy laws expose small and medium-sized enterprises (SMEs) in Canada to potentially higher compliance costs and civil liability in the event of a data breach, according to a new report from commercial insurer Aon. On Nov. 1,…
Two charged in 2016 ransomware attack that hit University of Calgary
November 29, 2018 The Canadian PressCALGARY – The FBI says it has charged two men in Iran as part of an investigation into cyberattacks that targeted the University of Calgary and computer networks in the United States. The university paid a ransom of $20,000 after…
Why brokers need to talk about ransomware
November 28, 2018 by Jason ContantRansomware attacks are increasing, and as a result, there will likely be a shift in brokers and clients alike starting to recognize the value of the business interruption component of a cyber insurance policy, a specialist insurer said Monday. “Cybercrime…
Why brokers shouldn’t focus on breach notification law when selling cyber
November 26, 2018 by Jason ContantThe nation-wide mandatory data breach law that came into effect Nov. 1 is “a good way and a reminder to start the conversation with their clients,” but brokers should ultimately focus selling efforts on the crime and business interruption aspects…
Public insurer’s six-month loss over $500 million
November 26, 2018 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) has posted a net loss of $582 million for the first six months of the current fiscal year. It’s also projecting a year-end financial loss of $890 million for 2018/19. This significant loss…
Insurer said to have denied coverage ‘without a comprehensible explanation’
November 26, 2018 by Greg MeckbachIntact Insurance won a coverage dispute in court but “poor customer relations” means the homeowner plaintiff does not have to pay Intact’s legal defence costs. Homeowner Arnie Augspols sued Intact and G. Bates Plumbing. Augspols noticed several problems in his…
Court allows trial in case of insurer not following mortgagee’s instructions
November 22, 2018 by David GambrillA trial to determine whether The Co-operators was negligent in distributing insurance funds contrary to the instructions of a mortgagee will be allowed to continue, the Ontario Superior Court of Justice has ruled. The court denied a motion for summary…
Quebec broker regulator gets new CEO
November 21, 2018 by Greg MeckbachThe regulator of Quebec’s property and casualty insurance brokers will have a new chief executive officer next week. Anne-Marie Poitras is CEO of Chambre de l’assurance de dommages (ChAD) effective Nov. 29, ChAD announced Wednesday. A former broker and claims adjuster,…
Condo deductible dispute arises from 60-gallon flood
November 19, 2018 by Greg MeckbachWhen a store on the main floor of a condo building suffered $25,000 in losses from a flood, the strata corporation was on the hook for the $5,000 deductible. The strata corporation tried to recover the $5,000 deductible from a…
Storm gives Newfoundland ‘an awful beating’
November 15, 2018 By Holly McKenzie-Sutter - THE CANADIAN PRESSST. JOHN’S, N.L. – A ferocious storm is pounding much of Newfoundland and Labrador with powerful winds, blowing snow and surging waves, in what Environment Canada said was the largest storm in the world as of Thursday afternoon. “The shore…
Company calls for tow truck operator training standards
November 14, 2018 by Greg MeckbachTow truck drivers should not be allowed to hook up and haul vehicles damaged in collisions without some sort of certification above and beyond a driver’s licence, says CAA South Central Ontario. “If you have a Class G driver’s licence,…
Is seven months too long to wait for car repairs?
November 14, 2018 by Jason ContantA B.C. small claims tribunal has dismissed a driver’s claim that his repair shop negligently misrepresented the amount of time it would take to repair his vehicle. Jizhou Zhang sought an award of $4,500 for the loss of use and…