Why you’ll have trouble finding D&O insurance for clients using blockchain
August 23, 2018 by Jason ContantBrokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and…
Toronto’s density, old sewer system lead to flooding, observers say
August 22, 2018 Gabriele Roy - THE CANADIAN PRESSTORONTO – Steady rain and thunderstorm warnings in Toronto on Tuesday had residents bracing for waterlogged streets and transit delays for the third time in as many weeks, with the city saying it was prepared to respond quickly to urgent…
Beleaguered industry faces prospect of more flood damage in Ontario
August 21, 2018 by David GambrillMost of Ontario is under a severe weather warning Tuesday, once again threatening flood damage in a province where insurers have already paid approximately $800 million for natural catastrophe damages. This cumulative total for the year in Ontario does not…
Tories call for ‘made-in-Ontario’ climate change adaptation plan
August 21, 2018 by Greg MeckbachOntario’s new government is promising to address property risk with a “new climate change plan,” but one of the first things it has done is table legislation scrapping a program that charges people for carbon emissions. “We know that the…
Signs of a hardening commercial market
August 20, 2018 by Greg MeckbachShopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond…
Demand for omni-channel drove this brokerage merger
August 17, 2018 by Greg MeckbachHub International Ltd. is planning to use the recent acquisition of a Windsor, Ont. firm to expand its online services with existing brokerages. “The reason why we bought Cypher Systems Group is we really felt that we wanted to have…
Directors’ liability at issue in challenge to environmental protection order
August 17, 2018 by Greg MeckbachA Saskatchewan company facing a possible fine of $1 million arising from an alleged environmental offence could have its case heard by the Supreme Court of Canada. The case centres around the validity of an environmental protection order. In Canada,…
How much this province’s “historic” flooding will cost the industry
August 14, 2018 by Jason ContantSpring flooding in New Brunswick may have been “historic” and “record-setting,” but it didn’t meet the $25-million threshold of a catastrophe event. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Monday the flooding was a “notable event,” meaning it caused…
How individual insurers have responded to challenges in Ontario auto
August 14, 2018 by Greg MeckbachDespite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce…
One trillion litres of sewage leaked into Canadian lakes and rivers over last five years
August 13, 2018 Mia Rabson - THE CANADIAN PRESSOTTAWA – Last Wednesday, a team of people from the Lake Ontario Waterkeeper environmental group descended on the Toronto harbourfront looking for any signs the previous night’s massive, flash-flood rainfall had caused the city’s ancient combined sewer system to overflow…
Ontario PCs historically ‘very receptive’ to auto rate reform: Intact CEO
August 9, 2018 by Greg MeckbachOntario’s newly-elected government has been silent on auto insurance reform, but the head of Canada’s largest property and casualty insurance carrier is encouraged by the Progressive Conservative Party’s historical leaning towards loosening rate regulation. The Progressive Conservative Party was returned…
Flood report: The city that saw a month’s worth of rain in under three hours
August 8, 2018 by Jason ContantA “pocket storm” that dumped a month’s worth of rain on the City of Toronto in less than three hours Tuesday night has resulted in mostly sewer back-up and flooding claims, with few commercial losses, according to claims adjuster ClaimsPro.…