Industry

Challenging market conditions remain for these two lines in Canada

Market conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms of volatility are impacting insurance market trends and the risk agenda for organizations, driving the […]

By Jason Contant | February 10, 2022

2 min read

Wildfire destroys Lytton’s governance records; B.C. gives OK to rewrite bylaws  

VICTORIA – The mayor of the fire-ravaged community of Lytton, B.C., says rewriting the village’s bylaws from scratch will be about as entertaining as going to the dentist but it’s another step in the massive rebuilding effort.   The village’s records and backup servers were lost in last summer’s wildfire, with the content of many of […]

By Jason Contant | February 10, 2022

2 min read

New collaboration uses satellite data to develop new insurance products

Tokio Marine Holdings and ICEYE, a radar data provider and expert in NatCat solutions, have announced a commercial collaboration to develop new insurance products and services that utilize satellite data. ICEYE says Tokio Marine (whose Canadian branch has underwriting offices in Toronto, Montreal and Vancouver) has made a strategic investment in the company as it […]

By Jason Contant | February 9, 2022

2 min read

Wildfire costs show need for preventative measures

NatCat costs from summer 2021’s B.C. wildfires reached $77 million in insured damage in White Rock Lake and $78 million in Lytton. With renovations adding value to homes, and by extension insurable damage risk, it may make sense to encourage homeowners to get in front of those risks. “The best way to stop a fire […]

By Phil | February 9, 2022

2 min read