Claims
Insurers 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 downtown Toronto. “An employee who is under the influence of marijuana while at work could […]
By Angela Stelmakowich | September 27, 2017
4 min read
The U.S. Defense Department was working around the clock to deliver humanitarian assistance to Puerto Rico and the U.S. Virgin Islands, even as the death toll climbed further across the Caribbean after Hurricane Maria. By Monday afternoon, the confirmed toll from Maria’s rampage across the Caribbean had jumped to at least 49 deaths, including 16 […]
By Jason Contant | September 26, 2017
3 min read
Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built in floodways or in the flood fringe unless flood-proofing addresses related risks is just one […]
By Angela Stelmakowich | September 26, 2017
5 min read
Cyber extortion can take several different forms, including attempts to blackmail employees into giving away sensitive information, and different insurers have different cyber policy wordings to deal with extortion, RIMS Canada Conference speakers suggested Monday. In addition to “plain Jane ransomware,” one form of cyber extortion is called injunctive, cyber security expert Kevvie Fowler said […]
2 min read
LONDON – Accounting firm Deloitte says it has launched a thorough investigation into a cyberattack that hit its email system. The company said in a statement Monday that the breach had affected “very few clients” and that government authorities were notified. The Guardian newspaper reported Monday that the breached system had information from a range […]
By Jason Contant | September 25, 2017
1 min read
Floods in late August in Windsor, Ont. resulted in more than $124 million in losses to the industry, Insurance Bureau of Canada suggested Monday. “From August 28 – 29, a slow-moving area of low pressure produced significant rainfall over areas of southwestern Ontario,” IBC stated in a release. “These rains, up to 290mm in some […]
By Canadian Underwriter | September 25, 2017
Intact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said in a press release. IFC will acquire for OneBeacon for US$18.10 per OneBeacon common share […]
Low insurance penetration rates across Mexico, particularly in residential lines, has prompted RMS to issue a preliminary estimate that insured losses from the Puebla earthquake in central Mexico on Sept. 19 will not exceed US$1.2 billion. “This estimate accounts for shake-only insured losses to structures, contents and business interruption, including the effects of liquefaction and […]
Cyberattacks and asset bubble risks top the list of worries for Canadian businesses, according to new survey data from the World Economic Forum (WEF). The data – released earlier this week and published by the strategic partners of WEF’s Global Risks Report, Zurich Insurance Group and Marsh & McLennan Companies (MMC) – found that businesses […]
By Canadian Underwriter | September 22, 2017
Quebec Premier Philippe Couillard, Ontario Premier Kathleen Wynne and California Governor Jerry Brown have signed an agreement linking the carbon markets of the two provinces and one state. Couillard hosted Wynne and Brown in Quebec City on Friday. By signing the agreement to integrate and harmonize emissions cap programs, Ontario will now formally enter the […]
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