Claims
A major cyber crisis – such as the shutting down of the power grid in the United States via cyberspace – could occur within the next five to ten years, suggests a new cyber risk research report from the Insurance Institute of Canada (IIC). Cyber Risks: Implications for the Insurance Industry in Canada, released on […]
By Canadian Underwriter | May 19, 2015
2 min read
Impact Forecasting LLC announced Monday a flood model, for companies insuring properties in Canada, which the firm says has a “combined hazard resolution of 10 metres for the most exposed areas.” Impact Forecasting, a unit of London-based Aon plc’s Aon Benfield reinsurance intermediary, stated its new flood model for Canada “covers a geographical area representing […]
3 min read
Severe winter weather likely resulted in a dip in gross domestic product in the first quarter in both Canada and the United States, the Bank of Montreal’s chief economist suggested Thursday to insurance professionals in Toronto. Douglas Porter, chief economist of BMO Financial Group, suggested to Centre for Study of Insurance Operations (CSIO) members that […]
By Canadian Underwriter | May 15, 2015
4 min read
British Columbia Premier Christy Clark has announced the province’s Climate Leadership Team, which will provide advice and recommendations on actions to achieve greenhouse gas (GHG) reductions required across the industrial and transportation sectors and the built environment. The B.C. Office of the Premier said in a press release this week that the team’s mandate, to […]
WINNIPEG – Canada is promising to cut greenhouse gas emissions by 30 per cent below 2005 levels by 2030, a target Environment Minister Leona Aglukkaq calls “fair and ambitious” and reflects the country’s economic circumstances. Speaking in Winnipeg, Aglukkaq promised to introduce new regulations on methane emissions produced by the oil and gas industry, as […]
By The Canadian Press | May 15, 2015
Class action lawsuits were listed as the top litigation issue in global legal practice Norton Rose Fulbright’s 2015 Litigation Trends Annual Survey, which polled 803 participants working for companies headquartered in 26 countries worldwide, including Canada, the United States, Australia, France, Germany, the United Kingdom, Singapore and Hong Kong. “Survey respondents – primarily general counsel […]
WASHINGTON – The deadly Amtrak derailment near Philadelphia appears to be yet another accident that didn’t have to happen. It could have been avoided if a long-sought safety technology had been installed on its tracks and trains, according to information gathered by accident investigators. Seven years ago, the United States Congress gave Amtrak and freight […]
By Canadian Underwriter | May 14, 2015
CHAUTARA, Nepal – Officials with bullhorns walked through the quake-damaged streets of this small Nepal town Wednesday, calling for people to leave buildings in danger of falling after the second major earthquake in less than three weeks. The evacuation orders came a day after a magnitude-7.3 quake shook the impoverished Himalayan nation just beginning to […]
5 min read
Catastrophe Indices and Quantification Inc. (CatIQ) is looking to advance the need for real-time information on natural and man-made disasters with its release of the first phases of two new features to its online subscription-based platform. CatWATCH and Analysis Dashboard seek to enhance the real-time capabilities of the platform, which currently provides information about factors […]
TORONTO – More than 60 organizations are calling on the National Energy Board to suspend TransCanada’s application for the Energy East Pipeline. Groups including Greenpeace Canada, the Council of Canadians and the David Suzuki Foundation said in a letter to the federal pipeline regulator that it should suspend the review process while waiting for new […]
By The Canadian Press | May 13, 2015
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