Large companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and…
WINNIPEG – Dry weather and a slow melt so far have somewhat eased the flood potential in Manitoba, although it will be a few more weeks until the threat passes. The provincial government says with average to unfavourable weather, the…
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. When tropical cyclone Idai made landfall near Beira, Mozambique…
Insurance Bureau of Canada officials are hoping a $145-million commitment by the federal government towards cyber security will help the industry better understand how much a cyber incident could cost. In the 2019-20 budget document tabled Tuesday, federal Finance Minister…
Brokers selling cyber insurance may want to pay attention to a recent statistic: the average financial cost of downtime to a Canadian business following a ransomware attack is 7.5 times higher than the average ransom requested per incident. Canada not…
The world’s second-largest reinsurer is looking for partners in the artificial intelligence space to help the reinsurer get a better idea of how much insured damage future wildfires could cause. Swiss Re is working with the Massachusetts Institute of technology…
Due to six decision biases, consumers will typically not protect themselves against low-probability, high-consequence events until it is too late, a keynote speaker said recently at the CatIQ Connect conference in Toronto. When consumers decide not to purchase insurance or…
Canada’s insurers are optimistic that a national flood program will be in place to protect high-risk properties sometime in the not-so-distant future, although it doesn’t appear to be likely before the next federal election scheduled for Oct. 21, 2019. “We’ve…
CALGARY – A Canadian Pacific freight train parked on a frigid night in the Rocky Mountains began to move on its own before a derailment that killed three workers and sent 99 grain cars and two locomotives hurling off the…
Clients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
Adjusters who want to improve service for claimants could take a few pointers from companies outside the insurance industry. “When I look at customers today, their entire experience of how they want to be dealt with has been shaped outside…
Canada is making good progress on a national flood program, pending a final decision by federal, provincial and territorial (FPT) ministers responsible for emergency management. “What they are looking at is one national insurance solution to improve outcomes for high-risk…