DETROIT (AP) – Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits. The recall, part of a larger investigation by U.S. safety regulators into Tesla’s automated driving systems, came after regulators expressed concerns about the way Tesla’s system […]
By Jason Contant | February 16, 2023
3 min read
The cyber insurance market has never been in a more stable and positive position going into 2023, largely because of the learning experiences over the last two to three years, one cyber expert told Canadian Underwriter in an interview Wednesday. “The threat landscape changes incredibly rapidly and can sway by severity quite significantly as well,” […]
By Jason Contant | February 16, 2023
3 min read
After a severe NatCat year in Canada in 2022, all signs point toward warmer, drier conditions in 2023 and a quiet hurricane season. With that, however, meteorologists predict this year will make Top 5 list for warmest years on record and will exacerbate drought across Canada, one expert said at Cat IQ Connect. Nevertheless, “prepare […]
By Alyssa DiSabatino | February 16, 2023
4 min read
So far, wobbly stock markets aren’t sparking higher claims activity for asset managers’ liability coverages. But the kinds of investor claims that lead to complaints against money managers often lag the equity markets’ overall performance, noted Reid Irwin, practice leader for executive risk and financial institutions at Hub International. “Most people don’t complain when everybody’s […]
By Phil | February 15, 2023
3 min read
OTTAWA – Officials say the investigation is now ongoing after 12 people were injured in an apparent gas explosion that rocked an east Ottawa suburb on Monday morning, including two children and two people who were pulled out of the rubble. The two kids were among six taken to hospital immediately after the explosion at […]
By Jason Contant | February 15, 2023
4 min read
Canada saw 117 recorded tornadoes across the country during the 2022 season, tying 2021 for the highest-ever single season on record, according to the Northern Tornadoes Project (NTP). As with 2021, 29 of the tornadoes reached up to EF2 on the Enhanced Fujita scale, meaning winds of approximately 180 km/h to 220 km/h. Ninety-four downbursts […]
By Jason Contant | February 14, 2023
4 min read
When insurers recommend consumers pack up and move from their flood-prone homes, it’s easier said than done. That’s why the industry needs to come up with better resilience solutions and more efficient claims response to protect the customers most impacted in floods, said one industry expert at Cat IQ Connect. “There’s a lot of […]
By Alyssa DiSabatino | February 14, 2023
3 min read
Insurers with ESG plans are still sticking to their guns to stop backing fossil fuels and thermal coal, even as geopolitical events like Russia’s Ukraine invasion put strain on the international energy sector, an industry expert told delegates at CatIQ Connect. Before Russia invaded Ukraine almost a year ago, many insurers had begun restricting coverage […]
By Alyssa DiSabatino | February 13, 2023
2 min read
If an auto insurance claimant fraudulently applies for accident benefits payments arising out of a crash, the insurer can deny the entire auto claim, not just the fraudulent part of the claim, the Alberta Court of Appeal has confirmed. In Abbas v. Esurance Insurance Company of Canada, Ali Alrida Abbas suffered life-altering injuries in a […]
By David Gambrill | February 13, 2023
3 min read
A cybersecurity incident stretching into its fifth day at Indigo Books & Music Inc. has illuminated the increasing risk of cyberattacks on Canadian companies and consumers, experts say. The ongoing outage of the bookstore’s website serves as a warning of the mounting dangers facing organizations and individuals online, they say. “These attacks are becoming more […]
By Jason Contant | February 13, 2023
3 min read