Risk
MONTREAL – Filling the reservoirs of Quebec’s hydroelectric dams has sometimes caused small earthquakes – a process that doesn’t seem to have occurred elsewhere in Canada, according to a seismologist who has studied the phenomenon. Maurice Lamontagne says it’s still not clear why the tremors occurred, or why they happened in some cases but not […]
By Jason Contant | October 14, 2018
2 min read
Radioactive contamination and extended business interruption are among the new products that brokers can offer Canadian manufacturers later this fall, The Sovereign General Insurance Company announced. Nuclear risks are normally not included in property and casualty insurance policies, though some insurers will add in this coverage if asked. Sovereign General currently excludes radioactive contamination from […]
By Greg Meckbach | October 9, 2018
Oil refineries and other large industrial operations that are surrounded by residential communities need to work harder to ensure safety and protect their own bottom lines, multiple experts say. A massive refinery blast shook Saint John, N.B., on Monday, sending flames and black smoke into the sky but causing only minor injuries, leaving officials relieved […]
By Jason Contant | October 9, 2018
4 min read
Millenials – the ever-connected, technologically savvy age group – are actually most likely to ask a driver to stop using their mobile device if they are a passenger, a new Travelers Canada survey has found. Distracted driving has been cited recently by some carriers, such as Aviva Canada, as one of the reasons behind recent […]
By Jason Contant | October 7, 2018
3 min read
OTTAWA – The union representing 50,000 employees at Canada Post panned the latest contract offers from the corporation Thursday, calling them “disappointing” and keeping alive the threat of a work stoppage as the busy holiday online shopping season approaches. Two separate offers for rural and urban carriers included “very small movements” toward resolving some key […]
Canadians know that driving while high on marijuana causes a risk to road safety, but they don’t seem to understand cannabis impairment fully, according to a recent Leger poll conducted on behalf of the Insurance Bureau of Canada (IBC). Eighty-four per cent of 1,517 Canadians polled in August believe that driving while high poses a […]
By David Gambrill | October 4, 2018
Marijuana could cause mental illness among youth and government needs to find ways of preventing teens from using it, an Ontario politician said Tuesday. “There are many young people who had their lives turned upside down, and families turned upside down, as a result of the use of pot,” Gilles Bisson, opposition house leader and […]
By Greg Meckbach | October 3, 2018
A multi-million-dollar pollution clean-up order that spooked the Canadian insurance industry has some commercial brokers taking a good hard look at the exact wording of mid- to large-sized clients’ directors and officers (D&O) liability policies. The Ontario Ministry of the Environment issued a clean-up order in 2012 against 13 former directors of Northstar Aerospace Canada, […]
By Greg Meckbach | October 2, 2018
CALGARY – The Bank of Canada is looking at the key questions around the design of a digital currency and the issues surrounding such an idea, a senior Bank of Canada official said Monday. However, deputy governor Timothy Lane told a University of Calgary audience that unless the risks associated with a central bank digital […]
By The Canadian Press | October 2, 2018
There is a lot of room to improve the current process for buying commercial insurance in Canada. In a brokerage, fully half of the 24 common touchpoints involved in processing a single new commercial policy could be removed through automation, according to a white paper released in 2017 by the Toronto Insurance Council (TIC). Having […]
By David Gambrill | October 1, 2018
5 min read
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