Industry
Last year saw the lowest-ever combined ratio in the Canadian P&C insurance industry, making it the third most profitable year for Canada’s P&C insurance industry since 1975, according to the Property and Casualty Insurance Compensation Corporation (PACICC). “The 2021 industry combined ratio was 85.2%,” PACICC chief economist Grant Kelly and research assistant Zhe (Judy) Peng […]
By Jason Contant | April 7, 2022
2 min read
Defendants in lawsuits filed by families who lost loved ones in a British Columbia train derailment are denying any wrongdoing in the deaths of three Canadian Pacific Railway employees. The derailment happened on Feb. 4, 2019, when 99 grain cars and two locomotives plummeted off a bridge near Field, B.C. Families of two of the […]
3 min read
An ongoing labour shortage, exacerbated by the COVID-19 pandemic, is one of the key issues facing the construction industry in general, says the head of risk control with Travelers Canada. “I think the biggest prolonged challenge that comes around, seems to be every decade or so, is really around the shortage of qualified trades,” says […]
By Jason Contant | April 6, 2022
The likelihood that Canadian insurance industry employees benefit from diversity, equity and inclusion (DEI) programs is largely keyed to both the makeup of senior leadership and the size of the firm. A Canadian Underwriter online survey, fielded in January 2022 and made possible with the support of Sovereign Insurance, found 37% of respondents described their […]
By Phil | April 6, 2022
ST. JOHN’S, N.L. – A Royal Canadian Air Force investigator says a military search and rescue helicopter crash in March at the airport in Gander, N.L., was set off by a problem with the pilot seat. The investigator’s report released today says the seat “unexpectedly descended to its lowest position” as the six-person crew were […]
1 min read
Understanding proper storage and handling of materials can help your construction clients avoid a loss later down the road. Being able to identify material damaged by ultraviolet rays or weather is a key component of a construction risk management plan, says Paul Gallately, assistant vice president of risk control with Travelers Canada. This construction defect […]
By Jason Contant | April 5, 2022
OTTAWA – Environment Minister Steven Guilbeault says a new report from the United Nations’ climate agency shows the oil and gas sector “cannot do business as usual” even as the government is still considering approving a massive new offshore oil production project. The Intergovernmental Panel on Climate Change urges more aggressive cuts to greenhouse-gas emissions […]
One underrated way to keep employees on board is to give them the flexibility and resources they need to pursue their out-of-work passions, says a Harvard Business Review blog. Besides important considerations such as remote work and autonomy, better pay and health coverage, the blog authors recommend creating “passion opportunities” for employees. This includes greater […]
By Jason Contant | April 4, 2022
4 min read
The Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook Survey, which tracked business sentiment in the first quarter of 2022, found that more than […]
The global insurance market is experiencing hardening market conditions, with rising rates and capacity constraints posing challenges for risk managers. The starkest examples have arisen from the ongoing COVID-19 pandemic, and many of its related risks such as cyber terrorism and supply chain issues have resulted in more entities turning to captive insurance solutions for […]
April 4, 2022
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