Risk
How can small businesses stay compliant under PIPEDA? The Office of the Privacy Commissioner of Canada has published various online resources for both individuals and businesses to help better understand their obligations under the Personal Information Protection and Electronic Document Act (“PIPEDA”). Here are 3 tips on how small businesses can stay compliant under PIPEDA: […]
By Ad Ops | May 27, 2019
3 min read
Are you one of those brokers who’s thinking of changing jobs so that you’re buying commercial insurance instead of selling it? “There is a shortage of supply [of risk managers], so if anybody is looking for a fast way to move up the organization today, it’s probably risk management,” Sonia Baxendale, president and CEO of […]
By Greg Meckbach | May 16, 2019
2 min read
Technology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager for risk advisory at Deloitte Canada, alluding to a common scam that could cause your […]
By Greg Meckbach | May 15, 2019
4 min read
Limiting financial risk to firms that lease out vehicles used for ride sharing is one aim of legislation before Ontario law makers. Right now, the Insurance Act has limits on lessors’ vicarious liability but it “does not account for the use of ridesharing services such as Uber and Lyft,” a finance department spokesperson told Canadian […]
By Greg Meckbach | May 13, 2019
The ability to properly test marijuana impairment with roadside devices remains front and centre seven months after legalization, with at least one possible legal fight brewing. “I think our big issue in Canada, whether it’s a roadside test or from an employment perspective, is we don’t have the tools to test properly,” said Heather Matthews, […]
By Jason Contant | May 7, 2019
Brokers advising their clients on cyber security should inform them that re-using passwords – or using passwords in the first place – is not the best practice. “Passwords still have their use, but not as a way to uniquely verify a person,” Don Duncan, security engineer at NuData Security, told Canadian Underwriter Wednesday. “They are […]
By Jason Contant | May 1, 2019
As businesses increasingly move to the cloud to provide services, their cyber risk is also being greatly heightened, a cyber security professional told Canadian Underwriter recently. Many companies are outsourcing sensitive activities such as human resources or payroll to cloud providers. But with this shift to the cloud comes more risk, particularly through something like […]
By Jason Contant | April 24, 2019
Are carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup was typically available. But since that time, insurers have introduced insurance coverage for property losses […]
By Jason Contant | April 23, 2019
Can a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following the NotPetya cyber attack. Mondelez had an all-risk property insurance policy, but Zurich denied the […]
By Jason Contant | April 18, 2019
Credit scores could soon be used as one factor in determining Ontario auto rates, and the province plans to double coverage for catastrophic impairment, Finance Minister Vic Fedeli suggested in the budget document tabled Thursday. “Drivers should have the choice to lower their premiums by allowing insurers to consider their credit history, or by agreeing […]
By Greg Meckbach | April 12, 2019
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