MONTREAL – Rain is in the forecast this week across Quebec and officials are monitoring lakes and rivers at risk of flooding. Martin Guilbault with Montreal’s fire department says the city is on alert as the risk of flooding is at its highest since 2019. That year thousands of residents were forced from their homes […]
By Jason Contant | April 17, 2023
1 min read
OTTAWA – The Bank of Canada is once again holding its key interest rate steady at 4.5 per cent but isn’t ruling out the possibility of more rate hikes down the line. The central bank said Wednesday that recent economic data is reinforcing its confidence that inflation will continue to fall in the coming months. […]
By Jason Contant | April 12, 2023
3 min read
OTTAWA – New research says Canada is heading into a mild recession as elevated borrowing costs, a downturn in the U.S. and persistent inflation dial up the country’s economic uncertainty. Deloitte Canada’s latest economic outlook, released ahead of the federal budget on Tuesday, says tight monetary policy is set to squeeze economic growth this year. […]
By Jason Contant | March 28, 2023
1 min read
Canada’s provinces are poised for limited economic activity and sluggish growth for the rest of the year and into 2024, but the risk of a drawn-out recession is increasingly unlikely, according to a report released Tuesday. The latest provincial outlook from The Conference Board of Canada predicts the country will see very little improvement […]
By Jason Contant | February 28, 2023
3 min read
As the world emerges from the pandemic, and geopolitical tensions soar, risk managers need to think of risk much more holistically than they have traditionally, says Sonia Kundi, chief risk officer for Zurich Canada. “I guess the thing that really jumps out to me…and we’ve seen it materialized with COVID 19, is the interconnectivity of […]
By David Gambrill | February 24, 2023
3 min read
In the aftermath of the pandemic, all sights are set on cybersecurity, talent acquisition and economic recession as top business risks, but companies should also focus on preparing for physical threats, says Mark Herrington of the risk intelligence firm OnSolve. “At a time when the national discourse remains focused on a possible recession, many businesses […]
By David Gambrill | February 15, 2023
3 min read
VICTORIA – Up to 50 earthquake early warning sensors are being installed around British Columbia as part of a larger plan to protect people and infrastructure in a big quake. The sensors will be connected to the national Earthquake Early Warning system that’s expected to be in operation by 2024. A joint federal and provincial […]
By Jason Contant | January 27, 2023
2 min read
The Financial Services Regulatory Authority of Ontario (FSRA) is trying to determine how auto insurance rating factors affect vulnerable groups given the general lack of data, a senior executive at the regulator said during an industry event Thursday. Brian Sullivan, editor and owner at Risk Information Inc., asked panellists at the 2023 FSRA Exchange event […]
By Jason Contant | January 20, 2023
4 min read
A rare 5.6-magnitude earthquake that’s been reported as the largest ever recorded in Alberta could occur again, suggested Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction. Earthquakes Canada reported the moderate earthquake near the hamlet of Reno in northwestern Alberta on Nov. 29. At least eight other smaller earthquakes and aftershocks occurred […]
By Jason Contant | December 8, 2022
2 min read
Canada’s solvency regulator is acutely focused on the current macroeconomic environment and expects insurers to practice ‘capital conservation’ due to market volatility, a senior executive said at an industry event Thursday. The Office of the Superintendent of Financial Institutions (OSFI) also wants P&C (and life) insurers to conduct an inflation and interest rate stress test, […]
By Jason Contant | November 18, 2022
3 min read