Claims
The British Columbia government wants Ottawa help reduce government and public exposure to financial risks associated with marine spills. The call was made as part of the B.C. government’s ongoing participation in the Joint Review Panel’s monitoring of the Northern Gateway Project. “B.C. will shoulder 100% of the risk in the marine environment and a […]
By Canadian Underwriter | July 24, 2012
2 min read
The City of Vancouver voted on July 24 to approve in principle a comprehensive climate change strategy that will address more frequent and intense storm activity, coastal flooding, sewer back-up and hotter summers. The plan was developed by director of sustainability Amanda Pitre-Hayes in consultation with government, academic institutions and local governments. It recommends nine […]
The Saskatchewan City Mayors’ Caucus (CMC) has requested that the Government of Saskatchewan consider introducing photo radar within the province. Specifically, a CMC letter requests that the provincial government initiate a photo radar pilot project on the section of the TransCanada Highway within the boundaries of Moose Jaw. The TransCanada passes through the corporate limits […]
1 min read
‘Exploit kits’ — basically, malware in a box — and traffic directions systems are listed as the Top 2 emerging online threats by Trend Micro, a provider of cloud computing and Internet security systems. Trend Micro senior threat researcher Paul Ferguson recently gave a report from the front lines of threat detection, including a list […]
By Canadian Underwriter | July 23, 2012
Guy Carpenter representatives Krista Lienau and Sherry Thomas are scheduled to discuss the current and future landscapes of Canadian catastrophe risk and modeling at the Sept. 14 Friday Forum of the Institute for Catastrophic Loss Reduction (ICLR). Lienau is a managing director responsible for catastrophe analytics projects for several key Guy Carpenter clients. She has […]
Companies selling air travel tickets online cannot automatically include cancellation insurance with the airfare, the Court of Justice of the European Union has ruled. “‘Optional price supplements’ relating to additional services which are not compulsory must be communicated clearly at the start of any booking process and accepted by the customer on an ‘opt-in’ basis,” […]
By Canadian Underwriter | July 20, 2012
Traditional reinsurance is unlikely to contribute to or amplify systemic risk, although the financial crisis has demonstrated the same may not hold for non-reinsurance activities, including certain banking activities, notes Reinsurance and Financial Stability, a new policy paper from the International Association of Insurance Supervisors (IAIS). “Business relationships between cedants and reinsurers establish direct links […]
Hackers are increasing their attacks on smaller enterprises with fewer than 250 employees, Symantec Corp. (Nasdaq: SYMC) announced in its June 2012 Symantec Intelligence Report (ISTR). The report shows that 36% of all targeted attacks (58 per day) during the last six months were directed at businesses with 250 or fewer employees. As reported in […]
By Canadian Underwriter | July 19, 2012
A British Columbia court has determined the owner of a Corvette is entitled to insurance coverage after he severely damaged the car during an event the judge described as “driver training event,” as opposed to a “contest, show or race,” which would have been in breach of his insurance policy. The Insurance Corporation of British […]
3 min read
A British Columbia judge has dismissed appeals by a scooter rider convicted of driving without a licence or insurance, but suggests that provincial rules governing motor assisted cycles (MACs) could benefit from a review. British Columbia’s Motor Vehicle Act (MVA) marks out the dividing lines between cycles that do or do not need registration, insurance […]
By Canadian Underwriter | July 18, 2012
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