Industry
TORONTO – A shadowy group of cyber criminals that attacked a prominent nursing organization and Canadian Tire store has successfully targeted other companies with clients in governments, health care, insurance and other sectors. Posts on their NetWalker “blog” indicate the recent infiltration of cloud-services company Accreon and document company Xpertdoc, although only the College of […]
By Jason Contant | September 28, 2020
4 min read
Social inflation is the top item of concern for an Aon reinsurance executive, even if it’s an issue being exacerbated in the United States rather than in Canada. “I would bold and underline that — that is, I think, the Number 1 topic of discussion, typically in the U.S. insurance market,” emphasized Matt Wolfe, president […]
By Adam Malik | September 25, 2020
3 min read
The federal government has announced a temporary new fund to help struggling Canadian film and television productions held up by a lack of COVID-19 insurance. Heritage Minister Steven Guilbeault says the $50-million fund is a short-term measure that will be managed through Telefilm Canada and the Canada Media Fund. The fund will offer productions a […]
By Jason Contant | September 25, 2020
As more and more Canadians take advantage of virtual healthcare options during the COVID-19 pandemic, brokers and insurers need to make sure their clients have adequate insurance protection for this emerging risk. The move to medical consultations by video or phone rather than in-person visits brings various insurance implications. This includes the risk of cyberattacks, […]
By Jason Contant | September 24, 2020
Brokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these days, explained Kevin Neiles, chief marketing officer and Western Canada president at Gallagher, so the […]
By Adam Malik | September 24, 2020
More than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won’t say when it expects its online services to fully return to normal. A number of services within the CRA’s online portal for individual Canadians remain unavailable, including the ability […]
2 min read
After early hopes that brokers and insurers might be able to sell more commercial premium early next year as small businesses activity normalizes, a new report finds that it may be upwards of a year-and-a-half on average for a return to typical sales. At the current pace, ranges for a return to normal vary wildly, […]
By Adam Malik | September 23, 2020
Financial data marking the end of the “COVID quarter,” the dreaded 2020 Q2 results, show the Canadian P&C industry digging itself into a deeper underwriting hole than during the same point last year — with loss ratios in cyber and CGL policy lines dramatically on the rise. Canada’s solvency regulator, the Office of the Superintendent […]
By David Gambrill | September 23, 2020
HALIFAX – The centre of post-tropical storm Teddy made landfall in eastern Nova Scotia on Wednesday morning and then trudged across southern Cape Breton, its 100-kilometre-per-hour winds causing power outages – but not much damage. Bob Robichaud, a meteorologist at the Canadian Hurricane Centre in Halifax, said the sprawling, ragged storm came ashore near Sheet […]
By Jason Contant | September 23, 2020
Cyber exposure for your clients has shifted from the obvious operational standpoint of remote working during the COVID-19 pandemic to a data retention standpoint, a Gallagher executive said recently. “Many organizations are collecting personal health information on employees, maybe on customers [or] on guests, that perhaps they weren’t collecting in the past,” Brian Dagg, account […]
By Jason Contant | September 22, 2020
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