Industry
As employees increasingly return to the physical office in one form or another, one thing is certain: it will be tough to satisfy everyone and there will always be employees who want or need something else. So, what’s a leader in Canada’s property and casualty insurance industry to do? An author for a recent Harvard […]
By Jason Contant | November 3, 2021
4 min read
VICTORIA – Public sector organizations in British Columbia must do more to strengthen their fraud risk assessment and management practices, says auditor general Michael Pickup. A survey of 140 public sector organizations, including ministries, Crown corporations and post-secondary institutions, found that more than half are not doing enough to protect against fraud, he said Tuesday […]
2 min read
Losses caused by cyber wars – and widespread outages of electricity and telecommunications – are essentially uninsurable, Munich Re experts suggest. “Historically, in property insurance, damages caused by war have been seen as uninsurable,” said Tim Zeilman, vice president and global product owner-cyber, Hartford Steam Boiler, during an A.M. Best Company Inc. webinar. “I think […]
By Greg Meckbach | November 2, 2021
The Lloyd’s market has seen some “remarkable technologies” emerging recently, Marc Lipman, president of Lloyd’s Canada, said during the virtual IBAO Convention late last month. “A couple of Canadian-based companies have travelled to London to work through the Lloyd’s lab because they get such immediate collaboration with the market, with underwriters,” Lipman said during the […]
By Jason Contant | November 2, 2021
Ontario brokerage StoneRidge Insurance Brokers (SIB) has entered into a partnership with Underwriters Alliance, Inc. (UAI) to expand its service offering in group benefits and human resources services. In another announcement, large brokerage Navacord said it had completed the integration of two existing brands. SIB Corp., operating as StoneRidge Insurance Brokers, made their partnership announcement […]
ST. JOHN’S, N.L. – A suspected cyberattack on Newfoundland and Labrador’s health network has led to the cancellation of thousands of medical appointments across the province and forced some local health systems to revert to paper. The “brain” of the network’s data centre, operated by Bell, has been damaged, including the main and backup computer […]
3 min read
Businesses in Canada, with 62 attacks, are the third most likely worldwide to have their data held hostage, said new research by NordLocker. Researchers, who analyzed 1,200 companies hit by ransomware gangs in 2020 and 2021, said the U.S. (732 cases), U.K. (74), France (58) and Germany (39) filled out the top five. As for […]
By Phil | November 1, 2021
Despite facing prolonged supply chain disruptions, rising materials costs and labour shortages, the construction industry is set to lead economic recovery from the COVID-19 pandemic globally, and in Canada. Although the near-term global economic outlook remains clouded by surging inflation and supply chain bottlenecks, the global construction industry is expected to grow faster than the […]
Hard markets are not only tough on the entire insurance industry, they can also disrupt the way brokers are perceived by their clients. Canadian Underwriter’s Trusted Advisor 2021 survey contained several responses that revealed low levels of satisfaction and the hard market may have been a contributing factor. For example, upon renewal of a policy, […]
VICTORIA – The BC Coroners Service has released updated numbers showing 595 people died in the province during extreme heat events over the summer. That’s an increase from the 569 deaths confirmed by the coroners service at the end of July. A statement from the coroner and the Ministry of Public Safety says all the […]
By Jason Contant | November 1, 2021
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