Industry

45,000 litres of oil spilled at Churchill Falls hydroelectric station in Labrador

CHURCHILL FALLS, N.L. – Nalcor Energy says about 45,000 litres of oil spilled at the Churchill Falls hydroelectric plant switchyard in Labrador. In a news release Thursday, the Newfoundland and Labrador energy corporation says the oil spilled from a transformer on Oct. 29 after a mechanical failure and a fire. Original estimates from Nalcor said […]

By Jason Contant | November 13, 2020

1 min read

Demystifying cyber’s first hard market

Cyber insurance is a relatively new line of business in Canada and so it hasn’t seen any hard markets historically — until now, that is. And it seems that insurers have ransomware to thank for that. “I think it is indeed the first hard market we have seen in cyber,” Tim Zeilman, vice president and […]

By David Gambrill | November 12, 2020

4 min read

Opinion: Why the industry is wrong about litigation funding

Litigation funding provides companies and individuals with an important strategic tool. But a few leaders in the insurance industry warn us to “watch out” for litigation funding. They claim it could “significantly raise insurers’ costs.” Good news: They’re wrong. Writer Carl Sandburg said, “If the facts are against you, argue the law. If the law […]

By Adam Malik | November 12, 2020

3 min read

Fire aboard shrimp trawler off Newfoundland started in sauna: investigation report

ST. JOHN’S, N.L. – The Transportation Safety Board says a fire in January aboard a large factory-freezer trawler started in the ship’s sauna as the vessel was catching and processing shrimp off the coast of Newfoundland. The independent agency, in an investigation report released Thursday, said it appears a wooden footrest left on the sauna’s […]

By Jason Contant | November 12, 2020

2 min read