Legal / Regulation

ENCON Group announces standalone cyber policy for Canadian companies

Canadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks. Ottawa-based ENCON Group said in a press release that CyberPro is offered in association with Ascent Underwriting, a specialist MGA underwriting […]

By Canadian Underwriter | June 16, 2017

2 min read

Legal / Regulation

Road to Reform

Truth can be stranger than fiction, especially when one looks at the Ontario auto insurance system. On April 11, the provincial government released David Marshall’s review of the system. Marshall is a former chief executive officer of the Workplace Safety and Insurance Board. With disputes over accident benefits (AB) claims taking up court time, a […]

June 15, 2017

3 min read

Global business leaders cite regulatory risks, disruptive influences and cyber risks as key challenges

Companies in Canada and around the world are being increasingly impacted by risk, with nearly three quarters (72%) of business leaders polled in a recent survey “citing that they believe we are living in a riskier world,” said a new survey from BDO Canada. The findings were published in the latest Global Risk Landscape Report, […]

By Canadian Underwriter | June 14, 2017

2 min read

Legal / Regulation

Shipping losses continue to decline but “perfect storm” of regulation, cost savings and cybersecurity looms: AGCS

Large shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released on Tuesday, said that there were 85 vessels reported as total losses around the shipping […]

By Canadian Underwriter | June 13, 2017

5 min read

Reduced market access, regulatory fragmentation and cloud risk accumulation among key industry risks: Swiss Re

Reduced market access, regulatory fragmentation, the return of inflation, cloud risk accumulation and emerging liability legislation for artificial intelligence are just some of the key risks for the re/insurance industry, according to Swiss Re’s 2017 SONAR report. The report, released on Tuesday, is based on “the SONAR process, a crowdsourcing tool drawing on Swiss Re’s […]

3 min read

Toronto considering zoning, licensing and taxation rules for short-term rental platforms

The City of Toronto will soon consider recommendations to adopt new rules for short-term rental platforms such as Airbnb – which are unregulated – to address concerns ranging from noise to safety and taxation, notes a municipal backgrounder. The Report from the Executive Director, Municipal Licensing and Standards, and the Chief Planner and Executive Director, […]

4 min read

Quick Resolution

The Licence Appeal Tribunal has been hearing disputed Ontario accident benefits claims for more than a year. Although disputes seem to be resolved more quickly than they were by the Financial Services Commission of Ontario, it remains to be seen whether or not claimants are getting access to benefits in a more timely manner.

June 1, 2017

5 min read

Slice launches “first on-demand insurance platform” for homeshare hosts in 13 states

Slice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado, Florida, Georgia, Illinois, Iowa, Maryland, Massachusetts, New Jersey, New York, Ohio, Texas and Washington – […]

2 min read

Technological change and cyber risk overtake regulation as top risks for global insurers: study

The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of Financial Innovation’s (CFSI) latest Insurance Banana Skins 2017 survey, conducted with support from PwC, surveyed […]

3 min read

TSB urges Transport Canada to update cockpit voice recorder regulations

Transport Canada needs to update its regulations on flight recorders, Transportation Safety Board of Canada suggested Monday. The federal government’s response to a recommendation from a 1993 accident that killed seven is “still unsatisfactory,” TSB argued Monday in a tweet. TSB recommended more than 20 years ago that Transport Canada “streamline its processes to facilitate […]

4 min read