A multi-million-dollar pollution clean-up order that spooked the Canadian insurance industry has some commercial brokers taking a good hard look at the exact wording of mid- to large-sized clients’ directors and officers (D&O) liability policies. The Ontario Ministry of the Environment issued a clean-up order in 2012 against 13 former directors of Northstar Aerospace Canada, […]
By Greg Meckbach | October 2, 2018
2 min read
CALGARY – The Bank of Canada is looking at the key questions around the design of a digital currency and the issues surrounding such an idea, a senior Bank of Canada official said Monday. However, deputy governor Timothy Lane told a University of Calgary audience that unless the risks associated with a central bank digital […]
By Jason Contant | October 2, 2018
2 min read
There is a lot of room to improve the current process for buying commercial insurance in Canada. In a brokerage, fully half of the 24 common touchpoints involved in processing a single new commercial policy could be removed through automation, according to a white paper released in 2017 by the Toronto Insurance Council (TIC). Having […]
By David Gambrill | October 1, 2018
5 min read
The severity of some accidents may increase as vehicles become driverless, in part because driver orientation will change, a crash reconstructionist told Canadian Underwriter in an interview last week. Currently, drivers are sitting in their seats, properly belted with their headrest in the proper position, looking straight ahead. But imagine a situation in which there […]
By Jason Contant | October 1, 2018
2 min read
TORONTO – Ontario’s ombudsman says the system for notifying drivers that their licence has been suspended is “fundamentally flawed” leaving many people unwittingly driving with invalid licences. In a report released on Thursday, Paul Dube makes 42 recommendations designed to make the system fairer and keep drivers better informed of their status. Dube says the […]
By Jason Contant | September 28, 2018
2 min read
Ontario will soon introduce legislation defining the scope of recreational marijuana use, just weeks before the federal government is scheduled to legalize pot on Oct. 17. The governing Progressive Conservative Party is introducing a tightly-regulated regime in which municipalities will have an opportunity to opt out of having cannabis stores in their communities. In addition, […]
By Jason Contant | September 28, 2018
2 min read
TORONTO – A near-collision of an Air Canada jet at San Francisco’s airport should be a wake-up call for the federal government to adequately address pilot fatigue for overnight flights, the union representing the airline’s pilots said Wednesday. “I don’t know what else it would take to wake them up that this is a significant […]
By Jason Contant | September 27, 2018
3 min read
Economical Insurance has won Insurance Nexus’ Canadian Insurance Carrier of the Year 2018 award for its Guidewire-based computer system Vyne. The carrier of the year award recognizes the insurer who has made the biggest advances in implementing analytics and artificial intelligence within their business. The second category of award, the Canadian Insurance Innovator of Year, […]
By Jason Contant | September 26, 2018
3 min read
Michel Rodrigue, Cirque du Soleil’s director of risk management and insurance, has received this year’s Donald M. Stuart award, Canada’s highest honour for risk management. Based in Montreal, Cirque du Soleil is an entertainment company that produces spectacular theatrical shows famous for their high-risk daredevil and aerial acrobatics. The shows have been seen by more […]
By David Gambrill | September 24, 2018
2 min read
Canadian workplaces are likely to see an increase in marijuana use but the changes resulting from cannabis legalization next month will be “more evolutionary than revolutionary,” suggests a speaker scheduled to address next month’s Insurance Brokers Association of Ontario (IBAO) convention. Medical use of marijuana will become “more normalized” after recreational cannabis becomes legal Oct. […]
By Greg Meckbach | September 20, 2018
2 min read