Contractor immune from liability in botched demolition of burning building
February 7, 2018 by David GambrillA trucking and excavation company in Nova Scotia is immune from tort liability because it was acting under orders from the local fire department in a botched attempt to demolish a burning building, a Nova Scotia court has ruled. The…
New Alberta judge engaged with insurance regulators on behalf of clients
January 15, 2018 by Jason ContantGrant S. Dunlop, Q.C., a partner at Ogilvie LLP, has been appointed a justice of the Court of Queen’s Bench of Alberta in Edmonton. Dunlop maintained a litigation practice that specialized in directors’ and officers’ liability, employment, construction, banking regulation,…
Looking Under the Hood
December 15, 2017 Emily Atkins, EditorOntario’s mandatory auto insurance system needs more than a tune-up
Jean-Francois Blais retires as Intact Insurance president
December 14, 2017 David Gambrill, Editor-in-ChiefJean-Francois Blais, currently president of Intact Insurance, will be retiring from Intact, the parent company Intact Financial Corporation announced on Dec. 14. Blais joined the company six years ago, through Intact’s acquisition of AXA Canada in 2011. He led AXA…
Hyperion deal shows pension fund to be bullish on insurance
December 7, 2017 by Canadian UnderwriterWith its fourth major insurance acquisition in 18 months, the manager of Quebec’s public pension funds was looking for exposure to markets in Asia and Latin America, a Caisse de dépôt et placement du Québec spokesman told Canadian Underwriter Wednesday.…
Analyzing near misses can help with capacity management, capital calibration: RMS, Lloyd’s
October 23, 2017 by Canadian UnderwriterInsurers and reinsurers can benefit by considering how near misses – such as an incident three months ago when an Air Canada Airbus A320 nearly landed on a taxiway with four passenger jets – might have become major disasters, Risk…
Utilities cautioned to act now to strengthen their cyber security defences: Accenture
October 5, 2017 by Canadian UnderwriterUnprepared distribution utilities are urged to immediately begin improving their cyber security capabilities given the anticipated future hike in cyber attacks and the fact that most recently polled utility executives say such an attack could interrupt electricity supply, Accenture suggests…
Cyberattacks, asset bubble risks top Canadian business worries: World Economic Forum survey
September 22, 2017 by Canadian UnderwriterCyberattacks and asset bubble risks top the list of worries for Canadian businesses, according to new survey data from the World Economic Forum (WEF). The data – released earlier this week and published by the strategic partners of WEF’s Global…
Massive growth earns insurance-related firms 14 spots on Canada’s Fastest-Growing Companies list
September 14, 2017 by Ian PortsmouthThe insurance industry might always look slow and staid to the casual observer, but this year’s PROFIT 500 list proves that exciting opportunities are just about everywhere in the economy — insurance included. Released today by CanadianBusiness.com, the 29th annual…
Proposed model law could beef up U.S. insurers’ cyber risk management
August 17, 2017 by Canadian UnderwriterNew cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has…
Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1
August 4, 2017 by Canadian UnderwriterDisciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
Half of surveyed CEOs plan to adopt cognitive computing by 2019: IBM study
July 11, 2017 by Canadian UnderwriterHalf of surveyed chief executive officers across the globe plan to adopt cognitive computing by 2019, according to a recent study conducted by the IBM Institute for Business Value (IBM IBV). The study, titled Accelerating enterprise reinvention: how to build…