Claims
A recent Supreme Court of Canada decision, on the interpretation of Ontario’s Securities Act, is “generally a good development” for directors’ and officers’ liability insurers, a lawyer representing Insurance Bureau of Canada suggested Monday, despite that fact that the court ruling paves the way for shareholders’ lawsuits against former executives of the Canadian Imperial Bank […]
By Canadian Underwriter | December 7, 2015
5 min read
PORT ALBERNI, B.C. – A First Nations community on Vancouver Island has declared a state of emergency as rising water levels threaten to flood as many as two dozen homes. Tseshaht Chief Councillor Hugh Braker said sandbagging operations began Sunday afternoon along the Somass River, which has swollen after severe rain. “Obviously the river is […]
By The Canadian Press | December 7, 2015
2 min read
Manitoba Premier Greg Selinger announced late last week that the province will join Ontario and Quebec in introducing a cap-and-trade system for large carbon emitters. Ontario’s Office of the Premier added in a statement that the three provinces signed a new memorandum of understanding to facilitate their intent to link the cap-and-trade programs in Ontario, […]
3 min read
There will be an estimated 1.6 billion connected things in use by “smart” cities in 2016, an increase of 39% from 2015, according to a new report from Gartner, Inc., an information technology research and advisory company based in Stamford, Conn. Gartner defines a smart city as an urbanized area where multiple sectors cooperate to […]
Canada’s Minister of Environment and Climate Change, Catherine McKenna, announced on Saturday that the country would contribute $50 million to the G7 Initiative on Climate Risk Insurance to help people in developing countries protect themselves against the economic consequences of more intense and increasingly frequent natural catastrophes. “The risks and costs of climate change on […]
In a case involving an Ontario law in which directors’ and officers’ liability insurers are said to have a “critical and unique interest,” the Supreme Court of Canada announced Friday it is allowing a class action lawsuit against the Canadian Imperial Bank of Commerce – as well as four former senior executives – to proceed. […]
By Canadian Underwriter | December 4, 2015
7 min read
The Canadian Radio-television and Telecommunications Commission (CRTC) announced on Thursday that it has served its first-ever warrant under Canada’s anti-spam law (CASL) to take down a command-and-control server located in Toronto as part of a coordinated international effort. With this effort, law enforcement agencies from around the globe have disrupted one of the most widely […]
FREDERICTON – A winter storm moving through Atlantic Canada has closed some schools in Newfoundland and knocked out power in New Brunswick and P.E.I. NB Power says 24,000 customers were affected by the outage, with the bulk being in the Fredericton area. The Anglophone East School District has closed schools for the day because of […]
By The Canadian Press | December 4, 2015
1 min read
The RCMP has released a Cybercrime Strategy, which sets out an operational framework and an action plan to help Canada’s national police service reduce the threat and impact of cybercrime in Canada. According to a statement earlier this week from the RCMP, the operational framework is supported by three pillars that will guide the RCMP’s […]
Concern over cybercrime among small and medium-sized enterprises (SMEs) in 2015 has doubled to 8% from 4% in 2013, according to a new survey from Zurich Insurance Group. The survey, which polled 3,000 C-suite executives and managers at SMEs across 15 countries in the Americas, Asia-Pacific and EMEA (Europe, the Middle East and Africa), was […]
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