Insurance & Risk, Analysis, Events and Careers
A controversial proposal touted as a way to help railways manage risk has put the Canada’s transport minister at odds with the Senate. If passed into law, Bill C-49 would make voice and video recorders mandatory in locomotives in Canada. This measure will “increase opportunities to mitigate risks and prevent accidents from occurring,” Transport Minister […]
By Greg Meckbach | May 15, 2018
3 min read
What are some of the hottest trends in Canadian P&C commercial lines right now? Insurtechs in the SME [small and medium sized enterprise] customer segment is a key driver in today’s commercial market, says Jim White, chief sales officer and executive vice president of general commercial insurance at HUB International Ontario. There are also been advances in the […]
By David Gambrill | May 11, 2018
2 min read
Exposure to Ontario’s regulated auto market is one factor leading to the “unsatisfactory” financial performance at Economical Insurance, CEO Rowan Saunders suggested to mutual policyholders attending the company’s annual general meeting, held Monday at the Bingemans Centre in Kitchener, Ont. “By the nature of our being an Ontario-based mutual company, we have an overweight position […]
By Greg Meckbach | May 9, 2018
2 min read
Prompted by a growing focus on fair treatment of consumers by international regulators, the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) have invited Canada’s property and casualty insurance industry to comment on a new draft paper, Guidance Conduct of Insurance Business and Fair Treatment of Customers. The 22-page […]
By David Gambrill | May 8, 2018
2 min read
Canadian municipalities will join a national effort on May 5 to reduce wildfire risk to local homes and environments in anticipation of this year’s wildfire season. Wildfire Community Preparedness Day is an annual, national program launched by FireSmart Canada, in collaboration with The Co-operators, National Fire Protection Association (NFPA), and the Institute for Catastrophic Loss […]
By David Gambrill | May 1, 2018
1 min read
The owner of a “brownfield” polluted commercial property in British Columbia has lost its bid to have the property considered worthless for tax purposes. Victory Motors (Abbotsford) Ltd., situated about 80 kilometres east of Vancouver, owns commercial property that was once a gas station. It argued before the courts that no one would buy the […]
By Greg Meckbach | May 1, 2018
3 min read
Buying American commercial insurers is a “strategy that could prove rewarding” for Canadian insurance companies, executives from Toronto-based DBRS wrote in a report released Thursday. Expanding into the U.S. commercial space “requires significant resources,” wrote Stewart McIlwraith, senior vice president and head of insurance for the Global Financial Institutions Group at DBRS, in an article […]
By Greg Meckbach | April 26, 2018
2 min read
Uncertainty over the 24-year-old North American Free Trade agreement is probably discouraging some investment in Ontario, the province’s auditor general suggested in a report released Wednesday. Uncertainty over NAFTA is “almost certainly causing at least a temporary chilling effect on private-sector investment [in Ontario],” wrote Bonnie Lysyk, the province’s auditor general, in Review of the […]
By Greg Meckbach | April 26, 2018
2 min read
TORONTO – Ten people died and 15 others were injured when a van mounted a sidewalk and struck multiple pedestrians along a stretch of one of Toronto’s busiest streets, authorities said Monday, calling it “a horrific attack.” Deputy police chief Peter Yuen said the driver of the van was taken into custody, but did not […]
By Jason Contant | April 23, 2018
5 min read
TORONTO – Federal data breach regulations set to take effect Nov. 1 will require mandatory reporting of security breaches that pose a “real risk of significant harm,” but give businesses flexibility about how that’s done. Ottawa has rolled out the long-awaited requirements in a notice in the Canada Gazette that indicates the government wanted to […]
By Jason Contant | April 20, 2018
3 min read