RICHMOND, B.C. – Transport Canada says two ships collided in Vancouver Harbour Sunday after one lost power, but no one was injured and no pollutants were released. The federal department says in a statement that the bulk carrier MV Caravos Harmony lost power and collided with the MV Pan Acacia early Sunday morning. It says […]
By Greg Meckbach | March 20, 2019
2 min read
The federal government’s commitment Tuesday to spend $1 million a year on hazard awareness training – from a total budget of nearly $350 billion – will go a “long way” towards helping Canadians understand property risk, the Insurance Bureau of Canada suggests. It its 2019-20 budget document tabled Tuesday, the government said it is proposing […]
By Greg Meckbach | March 20, 2019
3 min read
Canada’s five biggest banks are paying nearly $8 million a year collectively in premiums, for billions in directors’ and officers’ liability insurance with no deductibles, recent security filings show. The total coverage limit and the circumstances under which those policies apply vary by bank. The Canadian Imperial Bank of Commerce said its D&O policy protects […]
By Greg Meckbach | March 18, 2019
2 min read
At some point in their lives, most Canadians will be subject to a tax audit from the Canada Revenue Agency (CRA). While the process can be anxiety-inducing and stressful, having the right insurance policy can help you prepare for an audit. It’s important to know what your rights are if you are audited and how […]
By Ad Ops | March 18, 2019
3 min read
Some commercial clients are looking for more consistency across the industry in cyber policy wording. Survey data shows cyber is the Number 1 hot topic for members of Risk and Insurance Management Society (RIMS) Inc., said Jennifer Goodwin, chair of the RIMS Maritime Chapter. Cyber policies can be confusing and different insurers offer different wordings, […]
By Greg Meckbach | March 15, 2019
3 min read
Canadian property clients could soon get an insurance discount by installing products from water flow sensing vendor Triple Plus Ltd. Triple Plus recently announced a pilot project in which American clients of Berkshire Hathaway GUARD can get lower property insurance rates if they install Triple Plus water leak damage prevention systems. Triple Plus will soon […]
By Greg Meckbach | March 13, 2019
2 min read
Yvonne Steiner has been named head of property for Zurich Canada. She will be a member of the Zurich Canada executive team and report to Zurich Canada CEO Saad Mered, effective Apr. 15. “We are very excited to have a leader of Yvonne’s caliber joining us,” Mered commented. “As we continue on our transformation journey, […]
By David Gambrill | March 11, 2019
1 min read
TORONTO – He has played Canadian university football and coached the game, but Todd Smith is waiting before he lets his two sons get on the field. “I’m not in a rush to put my kids into football just knowing what I know,” said Smith, a father of 12- and eight-year-old boys. “What I’ve told […]
By Greg Meckbach | March 11, 2019
7 min read
Perhaps the largest-ever earthquake to hit a section of central Alberta caused no immediate reports of damage, but knocked out power for more than 4,000 customers. Could fracking be the culprit? In this case, Alberta Energy Regulator (AER) is probing the earthquake’s connection to hydraulic fracturing (fracking), where rock is fractured by pressurized liquids to […]
By Jason Contant | March 6, 2019
3 min read
Seatbelts with shoulder harnesses should be mandatory on all school buses, an opposition member of Ontario’s provincial parliament told Canadian Underwriter Friday. “We should have the use of three-point seat belts on school buses to prevent injury and even death,” New Democratic Party MPP Bhutila Karpoche said in an interview. “This should have been done […]
By Greg Meckbach | March 1, 2019
2 min read