Industry
CALGARY – A new forecast says Canada is on track for a significant reduction in fossil fuel use by 2050, even as electricity demand grows and demand for crude oil continues. In a new report on long-term Canadian energy supply and demand outlook, the Canada Energy Regulator (CER) predicts unabated fossil fuel use (meaning fossil […]
By Jason Contant | December 10, 2021
3 min read
Both constructed solutions like dykes and seawalls and greener approaches like saltmarsh restoration and dune replenishment can help combat financial and social costs that result from severe storms, a new report noted. “Rising seas, swollen atmospheric rivers and post-tropical storms are a threat to community infrastructure, housing and the safety of those living along Canada’s […]
By Phil Porado | December 9, 2021
1 min read
More than a quarter of finance and insurance professionals took the bait when a phishing email hit their inboxes, said a study from a Laval, Que.-headquartered security awareness training firm. For users across all industries surveyed, nearly one in five (19.8%) who received a simulated phishing email as part of a global experiment clicked the […]
2 min read
HALIFAX – Schools across Nova Scotia were closed today after an overnight snowstorm swept across the province, prompting flight cancellations at the Halifax airport and delays for public transit. Snowfall and winter storm warnings remain in effect for every part of the province, except the extreme southwest corner, where the storm has already moved on. Up to […]
By Jason Contant | December 9, 2021
“Re-vinning” of stolen vehicles — where thieves steal a vehicle, put what appears to be a legitimate vehicle identification number (VIN) on the front dash and then sell it to an unsuspecting customer — is increasing as a fraud trend, Équité Association told Canadian Underwriter Tuesday. Équité Association released its list of Top 10 stolen […]
By Jason Contant | December 8, 2021
OTTAWA – Canada’s central bank has sent a warning that increases in the cost of living would continue into next year, but signalled it wasn’t yet prepared to pull its key lever to rein in inflation. The annual pace of inflation in October rose to 4.7 per cent, a pandemic-era high and the fastest year-over-year gain in […]
Clients telling you they can’t afford winter tires? Manitoba Public Insurance (MPI) administers a loan program to help get drivers the cash, and the traction, they need. Loan terms last up to four years at prime plus 2% and up to $2,000 per vehicle. Loan amounts average $1,246 and the average term is 2.9 years, […]
By Phil Porado | December 7, 2021
Project management, system implementation, and accessing resources are the biggest challenges, as the start date of the new insurance accounting standard IFRS 17 nears, Chris Cornell, partner, audit, and national sector leader, insurance, with KPMG in Canada told Canadian Underwriter in an interview for the Oct. 2021 issue. What follows are key excerpts from his […]
By Phil Porado | December 6, 2021
Like insurers, Canada’s institutional investors are examining how environmental, social and governance (ESG) factors weigh into their operational decisions. A new EY report on global institutional investors that includes Canada showed 74% are more likely to divest from companies with poor ESG track records. What’s more: Thibaut Millet, who leads EY’s Canada climate change and […]
Westland Insurance Group Ltd. has announced the acquisition of two brokerages in the Canadian Prairies: Church Eaton Insurance of Calgary and Hook Lafrance Insurance in Regina. Westland’s president and chief operating officer Jamie Lyons said in a press release Monday that Church Eaton brings “niche commercial expertise and specialist capabilities within key industry verticals, adding […]
By Jason Contant | December 6, 2021
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