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VICTORIA – A civil action has been filed in British Columbia Supreme Court that could see the owner of a condo in Vancouver stripped of his property after allegedly violating COVID-19 restrictions. The director of civil forfeiture filed the claim last week against Mohammad Movassaghi. A notice of civil claim alleges the penthouse apartment is […]
By Jason Contant | October 19, 2021
2 min read
Successful brokers must balance surging demand for online digital services with a clear recognition that clients want to maintain a strong human connection. “If you force all your clients to go to in-person and on-phone service, you are cutting out a massive percentage of the population. And if you make everybody go through your chatbot […]
By Melissa Shin | October 19, 2021
3 min read
There will be a point at which a cyber tail event will be too expensive for the insurance industry, as a whole, to cover, a speaker said Thursday during the CatIQ Connect virtual conference. “That’s where we are already starting to think about, ‘Okay, what happens in this instance?’” said Dr. Rachel Anne Carter, director […]
By Jason Contant | October 18, 2021
Global reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings. “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate risk — could be underestimated by 33%-50%, which is 91% of the sector’s buffer above […]
OTTAWA – Consumers and businesses expect increases in the cost of living to stay hot over the next year, the Bank of Canada says as part of surveys results that also show people more willing to search for new jobs, and businesses willing to pay more for workers. The bank’s survey of consumer expectations shows […]
There is no evidence that railway operations contributed to the wildfire that destroyed the town of Lytton, British Columbia this summer, an investigation from the Transportation Safety Board of Canada (TSB) has found. “The TSB has not identified any link between railway operations and the fire,” the safety board reported Thursday. “The wildfire remains under […]
By Jason Contant | October 15, 2021
OTTAWA – Canada is nearly doubling its target to cut methane emissions from the oil and gas sector as it prepares to sign a new global pledge at next month’s climate talks in Scotland. The colourless and odourless gas amounts to just about 13 per cent of Canada’s total greenhouse gas emissions, but because it […]
Private equity firms should consider partnering with one carrier who is able to handle multiple lines of insurance for both the private equity firm and its portfolio companies, a mutual insurer told Canadian Underwriter. “We’ve seen benefits of having the same insurance carrier for both the private equity firm as well as portfolio companies’ D&O […]
By Jason Contant | October 14, 2021
As premiums continue rising and capacity keeps tightening, brokers placing directors and officers (D&O) liability insurance are grappling with an unpredictable market. “The last time we saw a hardening D&O market was during the financial crisis in the late 2000s. But it was not nearly as spiky and unpredictable,” said Brooke Hunter, president & CEO […]
By Melissa Shin | October 14, 2021
TORONTO – Imagine Parliament Hill blanketed in orange skies, floodwaters climbing the sides of BC Place stadium or a thick layer of smog fogging the view of Halifax from Citadel Hill. These are all scenes depicted on a website published Thursday that blends artificial intelligence with geography to show the potential impact of climate change […]
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