OTTAWA – A federal task force says Canada’s transportation supply chain is approaching its “breaking point” and urgent action from both government and industry is needed to keep goods flowing. The National Supply Chain Task Force makes 21 recommendations in its final report released today that are intended to address the delays and economic pressure […]
By Jason Contant | October 6, 2022
1 min read
Profitable insurance companies mean stable and reliable protection for insureds during a time of uncertainty, and the property and casualty insurance industry in Canada should not be shy about reinforcing this message, industry execs told the NICC Conference in Halifax earlier this week. “I think about Lloyd’s journey to a place where we can offer […]
By David Gambrill | September 21, 2022
4 min read
Companies panic-buying supplies is one factor adding further stress to the supply chain, says one expert in a panel discussion at RIMS Canada Conference in Halifax. But solutions—like contingent business interruption (CBI), shipping via multiple methods and shrinking the supply chain—can be implemented to mitigate these disruptions. “It’s similar to the beginning of the pandemic when […]
By Alyssa DiSabatino | September 19, 2022
3 min read
The Transportation Safety Board says a 2019 train collision and derailment west of Winnipeg was the result of crew fatigue and inexperience and has made recommendations to prevent similar accidents in the future. “If Transport Canada and the railway industry do not act more quickly to implement physical fail-safe defences to reduce the consequences of […]
By Alyssa DiSabatino | August 26, 2022
3 min read
TD Bank Group followed several of its peers in reporting a profit drop for the third quarter as banks set aside funds for a potential recession ahead, even as loans continued to grow and consumer savings rates remained elevated. The return to climbing provisions for credit losses, which are counted against income, has been one […]
By Alyssa DiSabatino | August 26, 2022
3 min read
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. In the spring of 2017, the public spectacle over the now infamous Fyre Festival seemingly broke the Internet. Since then, several movies and dozens of articles […]
By Alyssa DiSabatino | August 25, 2022
4 min read
Canada’s solvency regulator is seeking comment on its proposed approach for regulating P&C insurers’ cryptocurrency risk exposure. In a proposed advisory to take effect in 2023 Q2, the Office of the Superintendent of Financial Institutions (OSFI) defines and categorizes two different types of “cryptoasset exposures.” “Cryptoassets are digital assets that use a mix of cryptography, […]
By David Gambrill | August 22, 2022
3 min read
Navacord Corp. has completed its 15th M&A deal of the year, this one involving a large commercial brokerage known for its risk management expertise with automotive dealerships. Navacord’s latest partnership is with Ottawa-based Binks Insurance Brokers Limited. Founded in 1918, Binks is a multi-generational commercial brokerage known for its risk management expertise with automotive dealerships […]
By Jason Contant | July 26, 2022
2 min read
Québec businesses are more likely to prioritize business interruption and environmental risks than their counterparts in the rest of the country, according to a new report by Aviva. However, both Québec and the rest of Canada are equally keen on risk management, the survey finds. Business interruption risks ranked first among the concerns of Québec […]
By Alyssa DiSabatino | July 12, 2022
3 min read
ST. JOHN’S, N.L. – Newfoundland and Labrador’s offshore oil regulator is laying charges in connection with a 2019 oil spill in the Hibernia field, which sits about 315 kilometres off the coast of St. John’s. The Canada-Newfoundland and Labrador Offshore Petroleum Board says it charged Hibernia Management and Development Company with three offences related to […]
By Jason Contant | July 6, 2022
1 min read