Industry
TORONTO – More than 80,000 Ontarians remained without power Sunday, a day after violent winds blew through the southern part of the province. Utility Hydro One says 450,000 customers lost power during the wind storm, and crews were still working to get the lights back on for more than 81,000 as of Sunday night. The […]
By Jason Contant | December 13, 2021
1 min read
Complex global supply chains, inconsistent regulations across jurisdictions, adoption of automation and the COVID-19 pandemic, will lead to a rise in product recalls, two Borden Ladner and Gervais lawyers said in a recent blog. “We predict 2022 will see more businesses recognizing the benefit of product-recall insurance, which can cover financial losses due to a […]
By Phil | December 10, 2021
Large independent Canadian-owned brokerage Westland Insurance Group Ltd. continues its acquisitions of western Canadian brokerages with the purchase of Reider Insurance. Westland announced Dec. 7 the acquisition of Reider Insurance in Winnipeg. It follows the acquisitions of Church Eaton Insurance of Calgary and Hook Lafrance Insurance in Regina, announced the previous day. “Reider Insurance is multi-generation family brokerage that […]
By Jason Contant | December 10, 2021
2 min read
It’s official — the massive flooding in southern British Columbia is the costliest severe weather event in the province’s history. In a press release issued late Thursday by Insurance Bureau of Canada (IBC), Catastrophe Indices and Quantification Inc. (CatIQ) said the flooding is estimated to have caused $450 million in insured damage, according to preliminary […]
3 min read
CALGARY – A new forecast says Canada is on track for a significant reduction in fossil fuel use by 2050, even as electricity demand grows and demand for crude oil continues. In a new report on long-term Canadian energy supply and demand outlook, the Canada Energy Regulator (CER) predicts unabated fossil fuel use (meaning fossil […]
Both constructed solutions like dykes and seawalls and greener approaches like saltmarsh restoration and dune replenishment can help combat financial and social costs that result from severe storms, a new report noted. “Rising seas, swollen atmospheric rivers and post-tropical storms are a threat to community infrastructure, housing and the safety of those living along Canada’s […]
By Phil | December 9, 2021
At a November Sotheby’s auction, a well-known U.S. CEO paid US$43.2 million for a first-edition printed copy of the U.S. Constitution. It’s the the kind of purchase that prompts savvy clients to speak with an insurance broker about specialty coverage. This is just one example of the kinds of expensive items high net worth (HNW) […]
More than a quarter of finance and insurance professionals took the bait when a phishing email hit their inboxes, said a study from a Laval, Que.-headquartered security awareness training firm. For users across all industries surveyed, nearly one in five (19.8%) who received a simulated phishing email as part of a global experiment clicked the […]
HALIFAX – Schools across Nova Scotia were closed today after an overnight snowstorm swept across the province, prompting flight cancellations at the Halifax airport and delays for public transit. Snowfall and winter storm warnings remain in effect for every part of the province, except the extreme southwest corner, where the storm has already moved on. Up to […]
By Jason Contant | December 9, 2021
“Re-vinning” of stolen vehicles — where thieves steal a vehicle, put what appears to be a legitimate vehicle identification number (VIN) on the front dash and then sell it to an unsuspecting customer — is increasing as a fraud trend, Équité Association told Canadian Underwriter Tuesday. Équité Association released its list of Top 10 stolen […]
By Jason Contant | December 8, 2021
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