Updated tailings code after Mount Polley disaster an improvement: B.C. mines auditor
June 18, 2021 The Canadian PressVICTORIA – A new report says changes to British Columbia’s requirements for tailings storage after the Mount Polley disaster have generally improved the management of mining waste. The mines chief auditor found many of the revisions made in 2016 to…
What risks keep mining clients up at night?
July 20, 2020 by Greg MeckbachIf you have clients in the mining sector, chances are their biggest concerns are how much their customers will pay for their products and how easily they can raise investment capital. Commodity prices and access to capital placed first and…
Potential opportunity in mining insurance
December 5, 2019 by Greg MeckbachInsurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a…
How D&O risks are changing in the mining sector
November 8, 2019 by Greg MeckbachIf you place directors and officers’ liability insurance for mining companies, the underwriter will want to know how the client manages risks such as pollution and shareholder litigation, a commercial broker advises. In lawsuits against directors and officers of mining…
BFL Canada acquires B.C. brokerage
May 15, 2019 by Jason ContantLarge commercial brokerage BFL Canada announced Tuesday the acquisition of British Columbia-based Summit Insurance Brokers Inc. Summit, based in Prince George, was founded in the late 1990s and brings expertise in industrial, commercial and farm risks to BFL Canada. Summit…
Is sinkhole damage covered under a standard home insurance policy?
May 7, 2019 by Jason ContantEditor’s Note: This story has been edited to include additional comments. Is damage from a sinkhole covered under a standard homeowner’s policy? “Earth movement” is typically excluded under a standard policy, but an earthquake endorsement may provide coverage. The…
What a liberal arts gaming enthusiast can bring to the cyber security table
April 29, 2019 by Greg MeckbachA priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their…
Failure to describe corruption risk cost this firm $30 million
December 18, 2018 Ian Bickis - THE CANADIAN PRESSTORONTO – Katanga Mining Ltd. will pay $30 million to the Ontario Securities Commission for misleading statements, its failure to properly disclose risks around operating in the Democratic Republic of Congo and its reliance on a controversial billionaire businessman. A…
Data breach risk prompts new Ontario legislation
November 30, 2018 by Greg MeckbachRecent backlashes against Statistics Canada and Facebook have prompted Ontario lawmakers to make it harder to share consumer banking information. “Financial data is especially vulnerable to hacking,” Stephen Crawford, Ontario MPP for Oakville, said Thursday at Queen’s Park in Toronto.…
$260 billion cleanup estimate based on ‘worst case’ scenario: energy regulator
November 5, 2018 Dan Healing - THE CANADIAN PRESSCALGARY – The Alberta Energy Regulator is apologizing for estimating it would cost $260 billion to clean up after the provincial oil and gas industry. The sector’s accumulated environmental liability is currently estimated at $58.65 billion, less than one quarter…
More interest from corporate clients in this specialty coverage
October 25, 2018 by Greg MeckbachLarge corporate clients often face unexpected tax bills in the millions – and companies are looking for insurers willing to share the risk. Aon Canada has meetings scheduled with several Canadian law firms to brief them on how tax insurance…
Why clients need advice on ‘litigation hot spots’
October 21, 2018 by Greg MeckbachCommercial brokers advising Canadian clients with operations in foreign countries need to understand consumer protection and pollution laws in those countries. “It’s up to a broker to make sure that he or she is well versed in what those countries’…