Risk
There is an increased risk of aviation accidents if pilots flying at night are not required “to maintain instrument flying proficiency,” the Transportation Safety Board of Canada suggested in a recently-released report. On Nov. 9, 2015, a Cessna 182 crashed shortly after taking off from Parry Sound Area Municipal Airport. Both occupants died. TSB released […]
By Canadian Underwriter | July 17, 2017
2 min read
Growth in the managing general agent (MGA) market last year exceeded that of the total property and casualty market by 32%, according to a new study from global investment management firm Conning. “In 2016, comparable firms in Conning’s MGA database grew by 4.9 per cent compared to 3.7 per cent for the property-casualty market overall,” […]
By Canadian Underwriter | July 13, 2017
Canada’s aviation regulator is proposing new regulations that would reduce the maximum number of hours that pilots would be allowed to be on flight duty and mandate a “holistic risk management approach” in some cases, to addressing the problem of air crew fatigue. The federal government recently published a regulatory impact analysis statement on proposed […]
By Canadian Underwriter | July 12, 2017
3 min read
Despite efforts by Transport Canada to audit safety management systems of federally-regulated railways, the risk associated with weak railway safety management systems is sufficient to warrant continued involvement from the Transportation Safety Board of Canada, the board suggested Tuesday. In August, 2014, TSB recommended that Transport Canada “audit the safety management systems of railways in […]
By Canadian Underwriter | July 11, 2017
4 min read
OTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in oil prices. Low interest rates have helped fuel the housing market in recent years, incentivizing […]
By Jason Contant | July 11, 2017
A 17-year-old years recommendation to improve the quality of decision-making on the part of Canadian pilots has not been advanced far enough to reduce aviation risk, the Transportation Safety Board of Canada recently suggested. On May 18, 1998, a single-engine turboprop was destroyed after it made a forced landing in a bog after an engine […]
By Canadian Underwriter | July 10, 2017
The owner of a commercial building damaged by fire that started in a restaurant kitchen is precluded from pursuing a subrogated claim against the restaurant operator due to a clause in the lease requiring the landlord to buy fire insurance, an Ontario judge ruled in a decision released Wednesday. On Oct 22, 2011 a fire […]
By Canadian Underwriter | July 7, 2017
An investigation into the sinking of a fishing vessel on Lake Superior “highlights several factors as to risk” in Canada’s commercial fishing industry, the Transportation Safety Board of Canada said in a recent report. TSB released Wednesday a report into the capsizing and sinking of the Bessie E., about 80 kilometres north of Sault Ste. […]
By Canadian Underwriter | June 27, 2017
Insurers of mountain bicycle riding parks should be able to “breathe a sigh of relief” due to a recent court decision from British Columbia, a blogger with an insurance law firm wrote in a recent post. Dr. Blake Jamieson suffered a spinal injury and is confined to a wheelchair as a result of a bicycle […]
By Canadian Underwriter | June 26, 2017
The private property and casualty insurance industry in the United States saw its net income after taxes drop to US$7.7 billion in the first quarter of 2017 from US$13.4 billion in Q1 2016, a 42.2% decline, according to ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America (PCI). The industry’s overall […]
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