Claims
Communities large and small across Canada are now taking action to reduce the risk of basement flooding and damage to property from sewer back-up, the Institute for Catastrophic Loss Reduction (ICLR) notes in a statement announcing the availability of a new book. Cities adapt to extreme rainfall: Celebrating local leadership describes 20 of the many […]
By Canadian Underwriter | November 28, 2014
2 min read
The Ontario government is targetting fraudsters who illegally rebuild and sell vehicles written off after collisions in omnibus legislation that also proposes to increase fines for distracted driving and to give police the power to impound a vehicle if a driver breaks the conditions of an alcohol ignition interlock program. Meanwhile, provincial politicians sent to […]
4 min read
A bill currently before a Senate committee would, if passed into law, allow the Canadian government to provide war risk liability coverage to airlines and other aviation firms, on short notice, if such coverage is not available through the commercial market, a government official recently suggested. If passed into law with no amendments, Bill C-3 […]
Financial services organizations are still struggling to align risk management frameworks with their organization, culture and talent to achieve change, notes a report issued this week by Deloitte Touche Tohmatsu Limited (Deloitte Global). Findings detailed in Risk, Culture and Talent in Global Financial Services reflect input received from global senior financial services leaders – a […]
The detection rate for information security breaches among Canadian businesses has dropped 15% since last year, according to a new report from PwC. Globally, the number of reported information security incidents around the world rose 48% to 42.8 million, the equivalent of 117,339 attacks per day in 2014, according to The Global State of Information […]
By Canadian Underwriter | November 27, 2014
3 min read
OTTAWA – The Transportation Safety Board says the federal government isn’t doing enough to enforce proper safety practices by Canada’s railways, airlines and marine operators. The board, which investigates transport accidents and makes recommendations for improvement, released its 2014 watch list of significant safety issues Wednesday. The annual list cites problems that the investigative board […]
Addressing climate change and rising sea levels demands a collective long-term view of how best to reduce its impact and further requires that planning for those efforts start now, argues the Insurance Council of New Zealand (ICNZ). ICNZ chief executive Tim Grafton made the comments in response to Thursday’s release of the Parliamentary Commissioner for the […]
DETROIT – A dispute between U.S. safety regulators and air bag maker Takata Corp. escalated Wednesday when the government threatened fines and legal action if the company fails to admit that driver’s side air bag inflators are defective and agrees to a nationwide recall. In a letter to Takata’s Washington office, the National Highway Traffic […]
By Canadian Underwriter | November 26, 2014
With less than five weeks before a United States government backstop for terrorism insurance expires, a group of companies and industry associations is calling on elected officials to come to an agreement on a law that extends the Terrorism Risk and Insurance Act. The Coalition to Insure Against Terrorism recently announced it met last week […]
JAKARTA, Indonesia – A powerful earthquake struck off the coast of eastern Indonesia late Wednesday, prompting villagers to flee to higher ground, but officials said a tsunami was unlikely. There were no immediate reports of injuries or serious damage. The U.S. Geological Survey said the magnitude-6.8 quake hit about 161 kilometres (100 miles) northwest of […]
1 min read
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