Claims

Why insurers are rethinking coverage for older machinery

Aging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and equipment breakdown at Intact. “Some large companies have transformers or generators they might have installed […]

By Phil | September 22, 2022

2 min read

Climate change effect on public transportation infrastructure to cost billions: financial watchdog

TORONTO – Ontario’s financial watchdog says the effects of climate change are projected to cost the province an extra $1.5 billion a year on average in the next few years just to maintain public transportation infrastructure. A report released today by the Financial Accountability Office says that over the next nine years, maintaining that infrastructure […]

By Jason Contant | September 22, 2022

1 min read

Ontario auto: The impact of inflation on rate increases

Financial Services Regulatory Authority of Ontario’s (FSRA) recent approval of auto insurance rate increases for several insurers signals inflation may finally be making its way into the world of auto insurance prices, according to rate comparison site Ratesdotca. “Currently, FSRA is observing that several factors are driving costs up, including inflation and people driving more,” […]

By Jason Contant | September 22, 2022

3 min read

Who is putting your client’s company at risk for a cyber scam?

Two-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance Bureau of Canada (IBC).  While employees‘ actions increase their companies’ cyber security risk, IBC said […]

By Alyssa DiSabatino | September 22, 2022

3 min read