Quantum computing’s impact on P&C insurance operations will be wide-ranging, say several sources who spoke with CU. Almost every sector and department of the industry could be affected, including actuarial, risk management and underwriting teams, data analytics, IT, claims processing,…
Canada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk,…
No two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out…
Budgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they…
A high percentage of today’s pool of risk managers has been working in the industry a long time, and the next largest group are fairly new to the business. Those in the younger group “are excited about what they’ve done…
As the world emerges from the pandemic, and geopolitical tensions soar, risk managers need to think of risk much more holistically than they have traditionally, says Sonia Kundi, chief risk officer for Zurich Canada. “I guess the thing that really…
In the aftermath of the pandemic, all sights are set on cybersecurity, talent acquisition and economic recession as top business risks, but companies should also focus on preparing for physical threats, says Mark Herrington of the risk intelligence firm OnSolve.…
Navacord Corp. has completed its 15th M&A deal of the year, this one involving a large commercial brokerage known for its risk management expertise with automotive dealerships. Navacord’s latest partnership is with Ottawa-based Binks Insurance Brokers Limited. Founded in 1918,…
ST. JOHN’S, N.L. – Newfoundland and Labrador’s offshore oil regulator is laying charges in connection with a 2019 oil spill in the Hibernia field, which sits about 315 kilometres off the coast of St. John’s. The Canada-Newfoundland and Labrador Offshore…
Fresh from emerging from a global pandemic, Canada’s P&C insurance industry is turning its mind toward the next item on its global risks list – the threat of an economic recession. Global economic recession topped the list of potential 2023…
VICTORIA – British Columbia’s auditor general says Crown-owned BC Hydro can improve its management of potential fraud risks at the $16 billion Site C dam project. Michael Pickup says an audit found the Crown corporation has some elements of fraud…
Zurich Canada is growing Zurich Resilience Solutions (ZRS) in Canada, adding Scott Thomas to the team as the head of ZRS for Canada and Chris Snider as head of sales and distribution. “This investment in ZRS Canada talent is an exciting step on our journey…