Industry
NEW YORK – Mass transit systems around the world have taken unprecedented – and expensive – steps to curb the spread of the coronavirus, including New York shutting down its subways overnight and testing powerful ultraviolet lamps to disinfect seats, poles and floors. The cleaning measures produced something commuters have not seen in a while, […]
By Greg Meckbach | July 13, 2020
4 min read
A British Columbia strata unit owner who suffered water damage after a toilet tank ruptured is unable to recover the cost to replace the unit’s toilets from the strata corporation. In 2019, a Crane toilet storage tank failed in a strata unit owned by Harvey and Cynthia Rasmussen. The rupture caused water damage in their […]
3 min read
Canadian insurers are taking part in a month-long campaign to halt advertising on Facebook and its companies to send a message to the social media giant about its practices in allowing hateful content and misinformation to be spread on its sites. The Stop Hate For Profit campaign called on advertisers to stop advertising on the […]
By Adam Malik | July 13, 2020
Online hackers are targeting manufacturers because they’re between a rock and a hard place: Pay up or see operations grind to a halt. All sectors are susceptible to data breaches, ransomware attacks and phishing, but criminals are narrowing their focus on who is most vulnerable, explained Katherine Keefe, Philadelphia-based head of Beazley Breach Response. “Who […]
By Adam Malik | July 10, 2020
2 min read
TORONTO – A new policy group estimates more than half of all Canadians know they’ve been a victim or target of a cyber crime, such as a leak of personal information, an account hack or installation of malware. The report from the Cybersecure Policy Exchange at Ryerson University found 57 per cent of participants in […]
By Greg Meckbach | July 10, 2020
1 min read
Toronto is drying out from another sudden thunderstorm, but claims professionals may have dodged an even bigger workload thanks to the storm quickly moving out. “We’ve seen worse,” Glenn McGillivray, managing director at the Institute for Catastrophic Loss Reduction (ICLR), told Canadian Underwriter, while noting the Wednesday storm happened on the seventh anniversary to the […]
By Adam Malik | July 9, 2020
Facing a global recession thought to be the deepest since the Great Depression of the 1930s, the global P&C insurance industry can expect premiums to contract by 0.1% in 2020, before rebounding alongside the economy in 2021, a new Swiss Re sigma report predicts. Global P&C premium volume is forecast to be “broadly flat (-0.1%)” […]
By David Gambrill | July 9, 2020
The key to selling trade credit insurance in this challenging economic environment is to show commercial clients their potential return on investment. Trade credit insurance is an overlooked but essential coverage. It is perhaps more important now than it ever has been, as some businesses stand on shaky ground due to the COVID-19 pandemic and […]
The June 13 Alberta storm that hit Calgary, Airdrie, Rocky View County is now officially the worst hailstorm in Canadian history, causing almost $1.2 billion in insured damages, according to Catastrophe Indices and Quantification Inc. (CatIQ). And on the all-time list of Top 10 disasters, “this event was the fourth-most-expensive insured natural disaster in Canadian […]
By David Gambrill | July 8, 2020
TORONTO – Bar and restaurant owners who deal in specialty alcohol say they’ve carved out a new business model around Ontario’s relaxed rules for takeout liquor, and they’ll fight to make the system permanent. In late March, the Ontario government allowed all restaurants to sell takeout alcohol alongside food to help them weather the COVID-19 […]
By Greg Meckbach | July 8, 2020
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