Risk
VANCOUVER – The Transportation Safety Board is deploying a team of investigators to the Port of Vancouver following the collapse of a large crane onto a loaded container vessel. A statement from the safety board says the ship, the Ever Summit, struck a gantry crane while berthing and both the vessel and crane sustained damage. […]
By Greg Meckbach | February 1, 2019
2 min read
TORONTO _ A poorly laid out runway complex and pilots distracted by required tasks have led to potentially catastrophic situations at Canada’s busiest airport, federal safety authorities said on Thursday. The finding comes from an investigation into 27 runway incursions at Toronto’s Pearson International Airport in which a landing plane either taxied onto, or almost […]
By Greg Meckbach | January 31, 2019
3 min read
MELFORT, Sask. – A Saskatchewan government report says the driver of a semi-truck should not have been on the road the day he flew through a stop sign and caused a crash with the Humboldt Broncos team bus. The report filed during the sentencing hearing for Jaskirat Singh Sidhu notes 51 violations of federal trucking […]
By Greg Meckbach | January 29, 2019
The number of Ontario auto policies in the residual market has increased by nearly a third in little more than a year, figures released to Canadian Underwriter show. Since the fall of 2017, there has been “some uptick” in the number of private passenger vehicle policies insured by the Facility Association Residual Market (FARM), Norm […]
By Greg Meckbach | January 28, 2019
Besurance Corporation, a Calgary-based insurance and technology company, has agreed to acquire Fenchurch General Insurance Company, an Ontario-based specialty insurer that offers insurance programs across Canada. Specifically, Fenchurch provides programs in warranty, trucking, surety and accident and sickness. Its products are — and will continue to be — distributed through respected third-party administrators, brokers and […]
By David Gambrill | January 23, 2019
Globally, the protection gap in 2018 shrunk to 60% – the lowest level it has been in 14 years, according to a new report on global catastrophes by Aon plc. Extreme weather drove the majority of the globe’s $225-billion worth of economic losses due to natural catastrophes in 2018, Aon plc reported. Private sector and […]
By David Gambrill | January 22, 2019
Commercial brokers advising Canadian clients involved in mergers and acquisitions could soon have another market to which they could place transactional risk. The Travelers Companies Inc. announced Jan. 15 it plans to offer transactional risk insurance in the United States. Asked whether Travelers plans to write transactional risk in Canada, a company spokesperson replied, “not […]
By Greg Meckbach | January 21, 2019
Contingent business interruption (CBI) insurance is on the rise in Canada, with an increase in both demand and higher limits, says the CEO and chief agent for Allianz Global Corporate & Specialty (AGCS) Canada. “This is one of the most difficult risks to underwrite as you are basically trying to understand the complexity of the […]
By Jason Contant | January 16, 2019
After nearly three months of recreational marijuana being legal in Canada, insurers are still trying to wrap their heads around a sector with no track record and lots of uncertainty. For specialist insurer CFC Underwriting, there is still some caution around certain lines. “Cannabis went live, as it were, on Oct. 17 and for now, […]
By Jason Contant | January 9, 2019
The Ontario government is inviting drivers and consumers to share their views on how to lower the province’s auto insurance rates, part of a broader initiative on auto insurance reform. “The previous government’s failed system of stretch goals on auto insurance is clearly broken,” Ontario Minister of Finance Vic Fedeli said in a release addressed […]
By David Gambrill | January 9, 2019
4 min read
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