Canada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of Accelerant Insurance Company of Canada, made his remarks while discussing the need to engage Canada’s […]
By David Gambrill | January 19, 2024
3 min read
TORONTO – Canada’s largest public library system is gradually restoring more of its services after an October cyberattack brought down its website and likely exposed sensitive employee information. The Toronto Public Library said customers will be able to see a familiar version of its website by the end of the month that will include more […]
By Jason Contant | January 19, 2024
2 min read
TORONTO – The Toronto Zoo says it believes personal information of its current, former and retired employees was stolen in a ransomware cyberattack first detected earlier this month. The zoo says the information includes past earnings information, social insurance numbers, birthdates, phone numbers and addresses of employees going as far back as 1989. It says […]
By Jason Contant | January 18, 2024
1 min read
With temperatures plummeting across Canada recently, one insurance brokerage has seen a 191% increase in cold weather-related claims in the early days of 2024 compared to 2023. “Over the past couple of weeks, we’ve seen almost three times as many cold weather-related claims come in compared to the same time last year,” Wendy McCracken, claims […]
By Jason Contant | January 18, 2024
3 min read
Ontario’s Court of Appeal has upheld a $175,000 damage award against Ontario Place in Toronto, finding that Ontario Place had blocked people’s access to the main exit and failed to erect barriers that would have prevented people from leaving the premises on a wet, grassy hill. This led to a chain of events in which […]
By David Gambrill | January 18, 2024
3 min read
If insurers’ recent response to drastic storm and fire losses recorded in many parts of the U.S. are any harbinger, some Canadian regions may soon grapple with a future in which standard market insurers simply walk away. It’s already happening down south. In late May, State Farm announced it would no longer write new homeowners’ […]
By Phil | January 17, 2024
3 min read
Canada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk, followed by cyber incidents in second place (46%), and natural catastrophes in third place (43%), […]
By Alyssa DiSabatino | January 17, 2024
2 min read
More than 100 wildfires are still listed as burning in British Columbia thanks to a combination of a busy wildfire season, extreme drought and generally warmer and drier conditions through December. Forrest Tower of the BC Wildfire Service said that while it’s not uncommon for some fires to burn through the winter, that number usually […]
By Jason Contant | January 17, 2024
4 min read
VANCOUVER – Environment Canada says a snowstorm is expected to hit Metro Vancouver, Greater Victoria and beyond, bringing up to 20 centimetres of accumulation and possible freezing rain to southern British Columbia. The weather agency has issued a snowfall warning in the region with a forecast of “widespread snow” starting tonight and into Wednesday. Snowfall, […]
By Jason Contant | January 16, 2024
1 min read
Fearing a wave of roof collapses could occur in the short term, Toitures Hogue, a large Quebec roofer, is urging owners of commercial, industrial and/or institutional buildings to be cautious and proactive in advance of a freezing rain forecast over the next few days. Coming after the province’s first heavy snowfall in 2024, the roofer’s […]
By David Gambrill | January 16, 2024
2 min read