Why your clients may not be covered when there’s an active wildfire
May 21, 2019 by Jason ContantWith wildfire season already underway in Alberta and British Columbia, brokers will be looking at how insurance can help their clients mitigate any losses. But brokers and clients alike may not know that the ability to bind coverage could be…
Why rewards programs are a new cyber threat
May 21, 2019 by Jason ContantIf your client offers loyalty and rewards programs, they may want to keep a closer eye on securing these “non-traditional risk points” from cyber criminals. Earlier this year, several McDonald’s customers in Canada complained that criminals had breached their accounts…
How this type of client is reducing fraud risk
May 17, 2019 by Greg MeckbachBiometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based…
How province is responding to growing Alberta wildfire threat
May 17, 2019 THE CANADIAN PRESSEDMONTON – The Alberta government has imposed a fire ban and restrictions on off-highway vehicle use in the northern half of the province. The government says the decision was made due to the growing threat of wildfires. The areas affected…
Paid IoT Solutions and Claims Reductions
May 17, 2019 Eddy SolutionsAt just after 10 am on an average Thursday morning, a 20-floor apartment building in downtown Toronto experienced a leak in their riser stack between the 5th and 6th floor. The leak was detected by an IoT sensor system, which…
How career prospects are looking in risk management
May 16, 2019 by Greg MeckbachAre you one of those brokers who’s thinking of changing jobs so that you’re buying commercial insurance instead of selling it? “There is a shortage of supply [of risk managers], so if anybody is looking for a fast way to…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…
When cyber breaches can kill
May 15, 2019 by Greg MeckbachYour client’s property and life are getting increasingly exposed to cyber attacks because just about everything today has computing power, an information security expert warns. “It used to be what with computer security, we were worried about computers, desktops and…
Why liability and reputational risk is changing
May 15, 2019 by Greg MeckbachTechnology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager…
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…
How ride-sharing insurance on leased vehicles will change in this province
May 13, 2019 by Greg MeckbachLimiting financial risk to firms that lease out vehicles used for ride sharing is one aim of legislation before Ontario law makers. Right now, the Insurance Act has limits on lessors’ vicarious liability but it “does not account for the…
Canadian companies paying high cybercrime bills
May 13, 2019 by Adam MalikMalicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in…