Known risks and new technology such as Hyperloop can pose challenges: Munich Re
October 18, 2017 Jason Contant, Online EditorThe combination of known risks with a new technology is challenging, Christian Höft, client manager with Munich Re, told Canadian Underwriter one day after the (re)insurer released a comprehensive risk analysis of the Hyperloop technology. Hyperloop Transportation Technologies’ (HTT) technology…
New high-speed transportation technology Hyperloop both “feasible and insurable”: Munich Re
October 17, 2017 by Canadian UnderwriterHyperloop technology – a form of transport in which passengers and goods travel in capsules at high speeds – is both “feasible and insurable in the medium term,” according to a new report from Munich Re. The Hyperloop Transportation Technologies…
B.C. government hires industry expert to help prepare taxi industry for ridesharing
October 17, 2017 by Canadian UnderwriterThe government of British Columbia announced on Monday that it has hired an industry expert to consult with and help prepare the taxi industry for a “made-in-B.C.” solution to ridesharing. Transportation and Infrastructure Minister Claire Trevena said in a press…
Plane suffered minor damage after hitting drone near Quebec City
October 17, 2017 The Canadian Press (CPSTF)QUEBEC – A collision between a commercial aircraft and a drone near Quebec City’s airport last week highlights the potential danger posed by unmanned aerial vehicles, authorities and aircraft experts said Sunday. Transport Minister Marc Garneau said he was “extremely…
Federal government orders railway company to complete repairs and resume service to Churchill, Man.
October 16, 2017 by Canadian UnderwriterThe federal government has ordered rail company OmniTRAX Inc. to complete railway repairs and resume rail service within 30 days to Churchill, Man., several months after the only ground transportation to town was flooded. Natural Resources Canada said in a…
Uber backs off plans to shutter Quebec operation, says it will continue for now
October 13, 2017 Sidhartha Banerjee - THE CANADIAN PRESSMONTREAL – Ride-hailing service Uber is backing down on a threat to shutter its Quebec operations, at least for now. The multinational announced Friday it won’t pull the plug on its Quebec wing as planned this weekend because it hopes…
Integrating disaster risk, resilience into broader systems key to unlocking climate adaptation abilities
October 13, 2017 by Angela StelmakowichA systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told…
Alberta drafts framework to manage cannabis legalization
October 6, 2017 by Canadian UnderwriterAlberta has become the latest province to draft framework to manage cannabis legalization ahead of the federal government’s plans in July of 2018. Albertans are invited to provide feedback on the draft framework by midnight MT on Oct. 27. A…
Brakes tapped on ridesharing in B.C. despite election promises to allow Uber
October 4, 2017 Dirk Meissner - THE CANADIAN PRESSVICTORIA – An election promise to bring ridesharing to British Columbia by the end of the year has taken a detour as the NDP government says safety of passengers and operators comes first. Transportation Minister Claire Trevena said Tuesday the…
City of Toronto examining impact of automated vehicles on internal departments: RIMS conference speaker
September 27, 2017 Jason Contant, Online EditorThe City of Toronto is taking an all-encompassing approach to automated vehicles by examining their potential impact on a variety of city departments, attendees to the RIMS Canada Conference heard on Monday. AVs could impact taxi regulations, employment, social services,…
Marijuana impairment-related losses could potentially trigger GL policies: RIMS speaker
September 27, 2017 by Angela StelmakowichInsurers would be well-advised to track the evolving marijuana risk to determine if impairment-related loss history could trigger defence and indemnification obligations under employers’ general liability policies, it was suggested Tuesday during a session at the RIMS Canada Conference in…
Autonomous vehicles will require a reassessment of liability: RIMS Canada Conference speaker
September 26, 2017 Jason Contant, Online EditorAutonomous vehicle (AV) technology will require a reassessment of liability and the uncertainty surrounding liability may even slow the introduction of AV technology, a speaker suggested on Monday at the RIMS Canada Conference. Jim Kidd, project manager at the City…