Claims
Policymakers needs to create a “global infrastructure asset class” in order to encourage insurance carriers and other institutional investors to put their money in long-term infrastructure loans — including transport, utilities, health care and education — suggests a recent report from Swiss Reinsurance Company Ltd. and the Institute of International Finance (IIF). Zurich-based Swiss Re […]
By Canadian Underwriter | March 3, 2014
3 min read
RENO, Nev. – There’s a whole lot of shakin’ going on at the University of Nevada, Reno. UNR’s seismic-simulation facility became the largest in the United States and second largest in the world this week with an expansion that included moving three new 27-ton shake table tops into the school’s new Earthquake Engineering Laboratory. “This […]
OMAHA, Neb. – Investor Warren Buffett says it’s clear that railroad tank cars carrying crude oil need to be updated because oil from certain regions has the potential to be more dangerous than previously thought. Buffett appeared on CNBC Monday after releasing his letter to Berkshire Hathaway shareholders Saturday. Buffett owns BNSF railroad and a […]
1 min read
Climate change is contributing to sea level rise, coupled with changing temperature and precipitation patterns. This has Canadian municipal risk managers grappling with challenges posed by more frequent and more severe disasters, including flood and damaging winds. While some officials focus on mitigation measures, such as improving drainage and building dikes, some experts suggest the best approach is to discourage development in high-risk areas, or at the very least, enforce building standards that reduce risk.
By Greg Meckbach, Associate Editor | February 28, 2014
12 min read
Business risks are becoming increasingly complex. Canadian companies must respond to growing challenges by adopting stronger internal controls, implementing a holistic approach to risk management and determining if business continuity plans are robust enough to adequately address any major interruption.
By Kevin Leong, Chief Executive Officer & Chief Agent, Canada, Allianz Global Corporate & Specialty | February 28, 2014
7 min read
Understanding insurance industry conditions today can help Canada be better prepared moving forward. The cost of natural disaster is rising as the global risk landscape evolves. Policy-makers must re-evaluate how they mitigate the financial impact of disasters.
By Gregor Robinson, Senior Vice President, Policy & Chief Economist, Insurance Bureau of Canada | February 28, 2014
Earthquakes happen in Canada all the time, but most are either too slight to cause damage or occur in remote and sparsely populated areas. But it is only a matter of time before a really significant earthquake strikes one of the major concentrations of insured property found today in highly developed areas.
By Arash Nasseri, Senior Engineer, Research and Modelling, AIR Worldwide | February 28, 2014
6 min read
Canada's highest court has outlined a new summary judgment test. With the recent Hryniak decision, one may expect an increase in summary judgment motions brought and for judges to play a more expansive role. Ideally, that would mean more cases can be heard quicker and with less cost.
By Albert Wallrap, Associate, Dutton Brock LLP | February 28, 2014
The recently completed review of Ontario's auto dispute resolution system offers 28 recommendations, including the creation of a new tribunal to handle disputes involving the Statutory Accident Benefits Schedule (SABS).
By Willie Handler, Consultant, Willie Handler and Associates | February 28, 2014
5 min read
Heavy snow in Japan that closed many roads, choking off the delivery of goods and parts to about a half-dozen car makers, recently prompted the suspension of operations for as long as several days. Activity has since resumed, but the event shows how less dramatic events (compared to, say, hurricanes and quakes) can have in […]
By Angela Stelmakowich, Editor | February 28, 2014
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