Risk
Prompted by a growing focus on fair treatment of consumers by international regulators, the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) have invited Canada’s property and casualty insurance industry to comment on a new draft paper, Guidance Conduct of Insurance Business and Fair Treatment of Customers. The 22-page […]
By David Gambrill | May 8, 2018
2 min read
Canadian municipalities will join a national effort on May 5 to reduce wildfire risk to local homes and environments in anticipation of this year’s wildfire season. Wildfire Community Preparedness Day is an annual, national program launched by FireSmart Canada, in collaboration with The Co-operators, National Fire Protection Association (NFPA), and the Institute for Catastrophic Loss […]
By David Gambrill | May 1, 2018
1 min read
The owner of a “brownfield” polluted commercial property in British Columbia has lost its bid to have the property considered worthless for tax purposes. Victory Motors (Abbotsford) Ltd., situated about 80 kilometres east of Vancouver, owns commercial property that was once a gas station. It argued before the courts that no one would buy the […]
By Greg Meckbach | May 1, 2018
3 min read
Buying American commercial insurers is a “strategy that could prove rewarding” for Canadian insurance companies, executives from Toronto-based DBRS wrote in a report released Thursday. Expanding into the U.S. commercial space “requires significant resources,” wrote Stewart McIlwraith, senior vice president and head of insurance for the Global Financial Institutions Group at DBRS, in an article […]
By Greg Meckbach | April 26, 2018
Uncertainty over the 24-year-old North American Free Trade agreement is probably discouraging some investment in Ontario, the province’s auditor general suggested in a report released Wednesday. Uncertainty over NAFTA is “almost certainly causing at least a temporary chilling effect on private-sector investment [in Ontario],” wrote Bonnie Lysyk, the province’s auditor general, in Review of the […]
TORONTO – Ten people died and 15 others were injured when a van mounted a sidewalk and struck multiple pedestrians along a stretch of one of Toronto’s busiest streets, authorities said Monday, calling it “a horrific attack.” Deputy police chief Peter Yuen said the driver of the van was taken into custody, but did not […]
By Jason Contant | April 23, 2018
5 min read
TORONTO – Federal data breach regulations set to take effect Nov. 1 will require mandatory reporting of security breaches that pose a “real risk of significant harm,” but give businesses flexibility about how that’s done. Ottawa has rolled out the long-awaited requirements in a notice in the Canada Gazette that indicates the government wanted to […]
By Jason Contant | April 20, 2018
SIKSIKA, Alta. – A First Nation east of Calgary is working on making roads passable as many rural areas of southern Alberta contend with overland flooding. “Road conditions are showing signs of minor improvement and crews have now begun the task of repairing roadways that have suffered the worst damage,” the Siksika Nation said in […]
By The Canadian Press | April 19, 2018
The market for property and casualty insurance brokerages continues to be intense, with books of business attracting prices from three-and-a-half to five times commissions – and even more for online business, Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory, said recently. So how do smaller players compete? They just aren’t able to, […]
By Jason Contant | April 16, 2018
Businesses wishing to insure their brand reputations against a cyber breach are going to find a hard time finding policies to cover that. “This is a huge area of concern for insurance,” says Catherine Evans, vice president-FINPRO at Marsh Canada Ltd. “Typically, if you are talking about a retailer or a financial institution, they are […]
By David Gambrill | April 14, 2018
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