Legal / Regulation
The large body of regulations known as maritime law should be addressed before or in concert with insurance considerations when it comes to autonomous vessels, British Columbia-based author Blake Desaulniers told Canadian Underwriter last week. “That large body of regulations and laws will have to be addressed before you can effectively address the insurance considerations […]
By Jason Contant | May 21, 2018
2 min read
Managing the risk posed by the “dark web” is made all the more difficult by some people’s mistrust of police, a former top Royal Canadian Mounted Police officer suggested Thursday. “Cyber crime requires a different approach than just the preventative hardening of cyber security systems,” former RCMP Commissioner Bob Paulson told Payments Canada Summit attendees […]
By Greg Meckbach | May 11, 2018
3 min read
The Canadian Association of Mutual Insurance Companies (CAMIC) Wednesday called on Parliament to withdraw two sections from proposed Bill 74 that would allow chartered banks to share their customers’ banking data with fintechs. CAMIC and its 76 member companies are concerned that these provisions will undermine the current regulatory framework that prohibits banks from using […]
By David Gambrill | May 2, 2018
Only one province in Canada officially accepts electronic proof of auto insurance right now, but industry scuttlebutt suggests police are already accepting them in some quarters, and Ontario will soon be in line to accept the electronic slips. “Word on the street” is that some police officers in Ontario are already accepting electronic proof of […]
By Greg Meckbach | April 27, 2018
The upcoming mandatory requirement to disclose data breaches will help address some of the anxieties that Canadians have about cybersecurity and data protection, and may prescribe some precautions that organizations can take for remediation. What would these precautions look like? Think Ashley Madison, according to Chantal Bernier, a former interim head of the Office of […]
By Jason Contant | April 13, 2018
Although mobile apps make it easier to rent rooms, some insurers have probably not considered the risks arising from short-term accommodations, speakers said Tuesday at Swiss Re’s annual breakfast meeting in Toronto. At the same time, they added, it should be fairly easy to insure the risks arising from short-term accommodations. “Think about Airbnb,” Don […]
By Greg Meckbach | April 13, 2018
With mandatory breach notification requirements coming into effect on November 1, Canadian businesses will need to focus on two factors to prepare: 1) a risk assessment, and 2) determining the decision makers in the company and a breach response plan. Chantal Bernier, who led the Office of the Privacy Commissioner of Canada for six years […]
By Jason Contant | April 12, 2018
NAFTA’s potential collapse is a huge risk for Canadian exporters. In the absence of an insurance solution, risk managers can show their value by planning creative strategies for a trade disaster scenario.
By Greg Meckbach, Associate Editor | April 3, 2018
Canadians are rejecting the notion that personal lines insurance is such a complicated product that consumers are incapable of making their own insurance purchase decisions without the advice of a broker, a digital broker told Canadian Underwriter recently. “I don’t know how a carburetor works, but I can buy a car,” Scott Loong, co-founder and […]
By Jason Contant | April 2, 2018
Insurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity, told Canadian Underwriter in an interview Tuesday. “What they may need to take a look […]
By David Gambrill | March 29, 2018
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