The federal government is contributing $45 million to help prevent landslides along the Whitehorse Escarpment with the aim to protect the land under Whitehorse International Airport and its access road to the Yukon’s capital. The escarpment has been plagued by landslides in the last several years, prompting the construction of a protective barrier along the […]
By Jason Contant | May 7, 2024
1 min read
Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday. Mark White, CEO of Ontario’s Financial Services Regulatory Authority (FSRA), addressed a question about the […]
By David Gambrill | March 4, 2024
3 min read
VICTORIA – Earthquakes Canada says a 4.9 magnitude earthquake was recorded Sunday afternoon and public reports poured in from hundreds of kilometres away from the event’s epicentre. John Cassidy, a seismologist with Natural Resources Canada, says people over a “very wide region” of the province have reported feeling the earthquake, which hit just before 3:30 […]
By Jason Contant | December 18, 2023
2 min read
CALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued Thursday, the regulator approved an initial tolling structure that will allow Trans Mountain Corp. to […]
By Jason Contant | December 1, 2023
2 min read
No two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out of the traditional insurance buyer roles and become more like strategic partners to their business […]
By Phil | October 26, 2023
3 min read
Budgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they run up against budget constraints (which may not be drawn from scratch on a yearly […]
By Phil | October 25, 2023
3 min read
Just when you thought it was safe to return to underwriting property and casualty (P&C) insurance risk, OSFI has new marching orders from Parliament to provide guidance on foreign interference in financial institutions, prompting yet another round of consultations with the industry. OSFI’s holistic approach to providing guidance on risks to financial institutions has met […]
By David Gambrill | October 5, 2023
5 min read
Mutuals were some of the first insurance companies to settle in Canada. But despite their longstanding history, there are existential threats that could “end the ability for mutual companies to participate in the market,” a mutual insurer executive said during an industry conference. Constraints on capital, increased consolidation, customer service innovation and climate change raising […]
By Alyssa DiSabatino | July 11, 2023
4 min read
OTTAWA – Risk management experts believe the likelihood of a shock that could impair the Canadian financial system has decreased since last year, but concern remains around geopolitical tensions, high inflation, unemployment and household debt burdens. The Bank of Canada’s 2023 Financial System Survey shows that confidence in the resilience of the Canadian financial system […]
By Jason Contant | May 15, 2023
1 min read
Canada will likely not experience a recession in the traditional sense but rather a ‘shallow downturn,’ BMO Financial Group’s chief economist Douglas Porter said at an industry event Thursday. “I’m reluctant to call what we’re looking at in Canada a recession,” Porter said during Q&A at the Centre for Study of Insurance Operations (CSIO)’s members’ […]
By Jason Contant | April 21, 2023
3 min read