Claims

Intact wins priority dispute over rental car coverage in standard auto policy

Ontario’s Court of Appeal has upheld a ruling in favour of Intact Insurance Company in a priority dispute over who is afforded coverage when operating a rental vehicle. In a decision released Thursday, the appeal court found that liability coverage for rental vehicles is available under the standard Ontario Automobile Policy (OAP1), but only when […]

By Jason Contant | November 22, 2019

3 min read

What the Bank of Canada sees as “transition risks”

TORONTO – Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio and all their lending practices kind of converge on a different climate trend line, that […]

By Jason Contant | November 22, 2019

2 min read

How to accelerate your analytics journey in the IFRS 17 world

As the 2021 deadline for IFRS 17 implementation rapidly approaches, insurers would be well-advised to consider a data hub strategy to accelerate their journey to analytics, a speaker stressed last week at the Canadian Insurance Accountant Association’s Fall Technology Seminar. This was one of the “thoughts from the field” – or lessons learned – that […]

By Jason Contant | November 21, 2019

3 min read

Ontario brewery loses $2.1 million in cyber attack

KITCHENER, Ont. – Waterloo Brewing Ltd. says it has lost $2.1 million in what it calls a social engineering cyberattack. The Ontario brewery says the incident occurred in early November and involved the impersonation of a creditor employee and fraudulent wire transfer requests. Waterloo Brewing says it initiated an analysis of all other transaction activity […]

By Jason Contant | November 21, 2019

1 min read