Risk
Enabled by the rapid increase of worldwide digital integration, cyber crime is growing quickly and costing the global economy billions of dollars. The current situation necessitates that efforts to combat cyber crime must include incorporating post-attack and risk transfer strategies.
By Terri Mason, Head of Professional Indemnity, Allianz Global Corporate & Specialty Canada | September 30, 2014
6 min read
Ensuring that coverage is available when it is needed most - when there is a claim - requires careful consideration of both Errors and Omissions (E&O) and Commercial General Liability (CGL) policies beforehand. What E&O and CGL policies cover separately and in conjunction with each other can make all the difference.
By Michael Mallett, National Product Manager, Errors and Omissions, The Guarantee Company of North America | September 30, 2014
Attendees of the 40th Annual RIMS Canada Conference heard views on the many risks currently facing Canadian organizations. These range from cyber crime to business interruption, pollution coverage in directors' and officers' liability insurance policies and even the possibility of active shooters.
By Greg Meckbach, Associate Editor | September 30, 2014
Receivables insurance could spell the difference between protecting a company's cash flow and threatening its very existence. Still, it is estimated that Canada's market penetration with companies that could buy receivables insurance is less than 10%.
By Mark Attley, President, Receivables Insurance Association of Canada | September 30, 2014
5 min read
1 The Canadian Independent Adjusters’ Association (CIAA) has announced that Albert Poon [1a] has replaced David Porter [1b] as CIAA president. Poon, who had been CIAA’s 1st vice president, is director of operations at Cunningham Lindsey Canada Claims Services Ltd. “We wish to extend our sincere appreciation to David for his many years of dedicated […]
September 30, 2014
4 min read
Joint and several liability tort systems in Canada have resulted in "deep-pocket" municipalities tending to absorb a bigger hit when named in lawsuits with multiple defendants. Many municipalities say, however, that this inequity can be corrected - and the flow of money staunched - by adopting proportionate liability.
By Angela Stelmakowich, Editor | August 31, 2014
16 min read
In most Canadian jurisdictions, people who drive motor vehicles as part of their employment duties have no statutory duty to tell their employers if they require an alcohol ignition interlock device as a condition of driving. However, there are several measures that commercial fleet policyholders can take to manage this risk.
By Neil MacLean, Partner and Joseph D. Antifaev, Articled Student, Guild Yule LLP | August 31, 2014
7 min read
The Canadian government promises to impose additional liability on operators of pipelines, offshore oil and gas producers and nuclear power plants. Those writing pollution coverage for pipelines will have to be even more diligent than they already are in assessing risk, one insurer contends.
By Greg Meckbach, Associate Editor | August 31, 2014
A significant percentage of data breaches are caused by weak passwords, insecure computer network portals and lost smartphones. Policyholders should be encouraged to draft incident response plans and to contact their brokers or carriers as soon as a breach is discovered, in order to access experts such as forensic experts, legal counsel and crisis management specialists.
By Nate Spurrier, Director of Business Development, IDT911 | August 31, 2014
The results of a recent survey suggest that providers of usage-based auto insurance need to educate clients about how the data insurers collect on driving behaviour is used, how this information will affect their rates and how telematics can improve safety while reducing claims frequency.
By Andrew Lo, Chief Marketing Officer, Kanetix.ca | August 31, 2014
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