Cyber influence on insurer ratings mostly gradual: Fitch
November 13, 2017 by Canadian UnderwriterThe influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty…
TSB calls on aviation regulator to ‘reduce the risk of impairment’ of flight crew
November 9, 2017 by Canadian UnderwriterCanada’s aviation industry should have a “comprehensive substance abuse program” that includes drug and alcohol testing of workers in safety-sensitive positions, the Transportation Safety Board of Canada recommended in a recent accident report. In 2015, two commercial pilots were killed…
Self-operating shuttle bus involved in accident shortly after Las Vegas launch
November 9, 2017 Regina Garcia Cano - THE ASSOCIATED PRESSLAS VEGAS – The robots won this one. A driverless shuttle bus was involved in a minor crash with a semi-truck less than two hours after it made its debut on Las Vegas streets Wednesday in front of cameras and…
Ontario government launches autonomous vehicle demonstration zone in Stratford
November 8, 2017 by Canadian UnderwriterThe government of Ontario announced on Wednesday that it has launched the Autonomous Vehicle Innovation Network (AVIN) in Stratford, Ont., a “unique demonstration zone” that is among the first of its kind in Canada to “allow researchers to hone the…
California asks US for $7.4 billion for wildfire rebuilding
November 6, 2017 Olga R. Rodriguez - THE ASSOCIATED PRESSSAN FRANCISCO – California Gov. Jerry Brown and lawmakers asked the U.S. government Friday for $7.4 billion to help rebuild after a cluster of fires tore through the heart of wine country, killing more than 40 people and leaving thousands…
Berkshire Hathaway net earnings drop to US$4.1 billion in Q3, down from US$7.2 billion in Q3 2016
November 6, 2017 by Canadian UnderwriterOmaha, Nebraska-based Berkshire Hathaway Inc. has reported net earnings attributable to shareholders of US$4.1 billion for the third quarter of 2017 ending Sept. 30, down from US$7.2 billion in Q3 2016. For the first nine months of the year, net…
MPs debate proposed rail safety laws
November 2, 2017 by Canadian UnderwriterLegislation mandating voice and video recorders in locomotives “needs to be better thought out” and it is not reasonable to deny shippers of toxic inhalation hazards access to a proposed long-haul rail interswitching mechanism, opposition members of parliament suggested this…
Saskatchewan taxi association urges consultation before adoption of ridesharing in the province
October 26, 2017 by Canadian UnderwriterThe Saskatchewan Taxi Cab Association (STCA) is calling on the province to “conduct real consultation” before allowing transportation network companies (TNCs) like Uber to operate in the province. In its Speech from the Throne on Wednesday, the provincial government said…
Aviva Canada launches commercial accident product through broker partners
October 26, 2017 by Canadian UnderwriterAviva Canada has announced the launch of Commercial Accident, an expanded insurance offering through its broker partners. With this new product, brokers can now provide member associations, volunteer groups/events, charitable organizations and businesses “expanded insurance coverage and limits without having…
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…
B.C. Green Party introduces ridesharing legislation for the third time
October 23, 2017 by Canadian UnderwriterAndrew Weaver, the leader of the B.C. Green Party, has introduced his Ridesharing Enabling Act for the third time. Weaver previously introduced the bill twice under the previous B.C. Liberal government. The bill has been modified from previous versions to…
Federal, Manitoba governments agree to pay $90 million to First Nations following 2011 flood
October 20, 2017 by Canadian UnderwriterThe governments of Manitoba and Canada have agreed to pay more than $90 million to certain First Nations who were affected by flooding in 2011. McKenzie Lake Lawyers LLP said in a statement released earlier this week that while not…