Industry
VANCOUVER – A key highway link between British Columbia’s Lower Mainland and the rest of the province will reopen to essential traffic by the end of the day on Monday, five weeks after it was heavily damaged by severe rainstorms. Transportation Minister Rob Fleming said the pending reopening of the Coquihalla Highway is “one of […]
By Jason Contant | December 16, 2021
4 min read
ST. JOHN’S, N.L. – An Irish expert says the fact Newfoundland and Labrador has to rebuild “from scratch” systems affected by an Oct. 30 cyberattack provides a new clue about the attack and its progress. Brian Honan said in an interview today that when victims of ransomware attacks have to completely rebuild systems, it’s typically […]
By The Canadian Press | December 15, 2021
1 min read
Speed can equal success when a private equity firm is looking to acquire a company. But the rush to close a deal can also mean insurance gets put on the back burner. A private equity firm often buys a controlling stake of a company and then becomes an active owner in that portfolio company. But […]
By Phil Porado | December 14, 2021
2 min read
As 2021 draws to a close, Canadian Underwriter looks ahead with its annual Executive Outlook for 2022. Our December 2021/January 2022 print issue included outlooks from eight property and casualty insurer executives and 10 brokerage executives. In total, we received feedback from nearly 40 executives, representing both carriers and brokerages. We will be featuring all […]
By Jason Contant | December 14, 2021
CALGARY – Experts say Canadians should use good “cyber hygiene” in light of the discovery of a massive software flaw that has resulted in the precautionary shutdown of thousands of websites. The federal government, the government of Quebec and the Canada Revenue Agency are among the organizations that temporarily suspended websites as a precaution after […]
3 min read
A few relatively simple changes can make a big difference in recruiting efforts for mid-size firms, two workforce management firms said in a recent blog. First, rewrite job postings and descriptions to emphasize the benefits of working for you instead of your specs and requirements, advised Jeff Green and Christin McClave in a blog from Harvard Business Review. Green is the […]
By Jason Contant | December 13, 2021
TORONTO – More than 80,000 Ontarians remained without power Sunday, a day after violent winds blew through the southern part of the province. Utility Hydro One says 450,000 customers lost power during the wind storm, and crews were still working to get the lights back on for more than 81,000 as of Sunday night. The […]
By The Canadian Press | December 13, 2021
Complex global supply chains, inconsistent regulations across jurisdictions, adoption of automation and the COVID-19 pandemic, will lead to a rise in product recalls, two Borden Ladner and Gervais lawyers said in a recent blog. “We predict 2022 will see more businesses recognizing the benefit of product-recall insurance, which can cover financial losses due to a […]
By Phil Porado | December 10, 2021
Large independent Canadian-owned brokerage Westland Insurance Group Ltd. continues its acquisitions of western Canadian brokerages with the purchase of Reider Insurance. Westland announced Dec. 7 the acquisition of Reider Insurance in Winnipeg. It follows the acquisitions of Church Eaton Insurance of Calgary and Hook Lafrance Insurance in Regina, announced the previous day. “Reider Insurance is multi-generation family brokerage that […]
By Jason Contant | December 10, 2021
It’s official — the massive flooding in southern British Columbia is the costliest severe weather event in the province’s history. In a press release issued late Thursday by Insurance Bureau of Canada (IBC), Catastrophe Indices and Quantification Inc. (CatIQ) said the flooding is estimated to have caused $450 million in insured damage, according to preliminary […]
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