Cybercriminals are using increased mergers and acquisitions (M&A) activity in the first half of 2024 to exploit security gaps and intensify cyberattacks, according to a new report from cyber insurance provider Resilience. “Increasing merger and acquisition (M&A) activity, coupled with reliance on ubiquitous software vendors, created new opportunities for threat actors to unleash widespread ransomware […]
By Jason Contant | August 14, 2024
2 min read
LifeLabs is seeking leave to appeal an Ontario Superior Court of Justice decision that found the medical services company cannot defeat statutory responsibilities by placing facts about privacy breaches inside privileged documents. One cyber insurance expert doesn’t believe the appeal will be successful. “It’s an established principle that facts cannot be privileged,” Neal Jardine, global […]
By Jason Contant | August 13, 2024
5 min read
Labour rates have become a main driver in auto repair expenses for insurers. That’s atop the still-increasing parts and vehicle complexity, finds a 2024 trend report by Enlyte and its subsidiary claims software and tech company, Mitchell. Insurers are looking at an average repairable claims cost in Canada of $5,044 in the first half […]
By Alyssa DiSabatino | August 13, 2024
3 min read
Less than a week after the remnants of Hurricane Debby dropped between 100 mm and 200 mm of rain on Quebec and eastern Ontario, the Canadian Hurricane Centre is showing Tropical Storm Ernesto tracking towards Atlantic Canada. “Ernesto will strengthen in the Atlantic Ocean, likely developing into the third hurricane of the 2024 hurricane season […]
By David Gambrill | August 13, 2024
2 min read
COLD LAKE, Alta. – “Since the attack, the city has remained open for services, though with limited capabilities,” noted CAO Kevin Nagoya. “It’s our priority to be here for our residents. Our doors have remained open.” In a press release issued on Aug. 7, the City provided an update on the progress made since the […]
By Jason Contant | August 13, 2024
2 min read
HINTON, Alta. – People who live in Jasper, Alta., will be allowed to return to the community on Friday, but wildfire officials say they should not expect to spend the night in their homes. Town incident commander Christine Nadon told reporters it’s a blanket re-entry to allow everyone to come back at once. “Residents should […]
By Jason Contant | August 12, 2024
2 min read
A massive hailstorm that struck Calgary Aug. 5 resembles a storm in the city several years ago that cost Canadian P&C insurers about $1.2 billion in insured damage, according to the Northern Hail Project (NHP). “Preliminary findings indicate that the scope of damage for this event is like that from the 2020 storm,” says an […]
By Jason Contant | August 12, 2024
4 min read
A car owner is not entitled to auto accident benefits (AB) for injuries sustained in a carjacking because his injuries were not directly caused by the use and operation of the motor vehicle, Ontario’s Licence Appeals Tribunal determined last Wednesday. “The carjacking was an intervening event that caused the applicant’s injuries,” LAT Adjudicator Kate Grieves […]
By David Gambrill | August 12, 2024
2 min read
Property flooding, sewer backups and river overflows are all on the docket for insurers and adjusters responding to historic rainfall and flooding in southern Quebec. How does the damage caused by post-tropical storm Debby in Quebec and eastern Ontario stack up against the estimated insured losses of a July rainstorm in Ontario, which could reach […]
By Alyssa DiSabatino | August 12, 2024
3 min read
Canada Soccer’s recent sports scandal is raising questions about general organizational liability, say two lawyers in a Mondaq blog. In the wake of a Canadian soccer spying scandal at the Olympics, employment lawyers and directors and officers (D&O) insurance underwriters may want to caution clients about the strategy of throwing executives under the bus. Firing […]
By David Gambrill | August 9, 2024
3 min read