Industry
Eileen Mercier, a member of the board of directors of Intact Financial Corporation, was named one of Canada’s 100 most powerful women this week by the Women’s Executive Network. Mercier, 70, has been on Intact’s board since 2004. The 100 winners are “proven achievers who are strong contributors to their organizations, their fields of endeavour […]
By Greg Meckbach | November 23, 2018
2 min read
TORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an in-house “red team” of ethical hackers _ cybersecurity professionals who attempt to hack a computer […]
4 min read
Claims
Alberta Motor Association Insurance Company does not have to pay a claimant who was injured while riding in a vehicle driven without the owner’s consent. The Supreme Court of Canada announced Thursday it will not hear an appeal from Ashley Cardinal over a coverage dispute with AMA. Cardinal was injured while riding as a passenger […]
By Greg Meckbach | November 22, 2018
Risk
Brokers placing commercial insurance for the risk of theft should pay close attention to exclusions. Exclusions on some policies covering crime losses for financial institutions may be leaving a gap in cover computer crime, a new paper from Marsh Inc. suggests. Financial institution bonds are first-party insurance policies that protect commercial clients “from a myriad […]
3 min read
A trial to determine whether The Co-operators was negligent in distributing insurance funds contrary to the instructions of a mortgagee will be allowed to continue, the Ontario Superior Court of Justice has ruled. The court denied a motion for summary judgment by The Co-operators to quash the civil suit, with the insurer arguing that the […]
By David Gambrill | November 22, 2018
JOHN’S, N.L. It’s now impossible to clean up Newfoundland’s largest-ever oil spill that leaked into the ocean last week, according to the regulatory board that oversees the province’s offshore activities. The 250,000-litre spill happened on Friday morning while Husky Energy’s SeaRose platform was preparing to restart production during a fierce storm that was, at the […]
A motorist who was successfully sued for rear-ending a vehicle on an icy road has to reimburse the plaintiff $23,000 for forensic engineering reports. Margaret Ozimkowski was driving home from work Jan. 23, 2012 after dusk in freezing rain. She was on a hilly road in the community of Almonte, west of Ottawa. She was at […]
By Greg Meckbach | November 21, 2018
MONTREAL – A broken water pipe has flooded a tunnel on a major Montreal artery, submerging three cars. The west-end Atwater tunnel connecting downtown and neighbourhoods to the southwest flooded Tuesday morning after utility workers accidentally punctured the pipe. It filled with several feet of gushing water, which reached the roofs of vehicles belonging to […]
By The Canadian Press | November 21, 2018
1 min read
IFRS 17 is an accounting standard that will result in a complete overhaul of an insurer’s financial statements, though finance alone cannot work through this complex change in isolation. Considering the significance of the impact across the organization, IFRS 17 program leaders must engage cross-departmental input and subject matter expertise including finance, risk, actuarial and […]
By Ad Ops | November 21, 2018
Clients in Saskatchewan, Manitoba and Atlantic Canada who rent out their homes like hotels will soon get coverage options through an insurtech partnership involving Slice Labs. The Co-operators Group Ltd. announced Tuesday that Duuo is expanding to more provinces. Duuo is the “initial product” in Slice Labs’ partnership with Guelph, Ont.-based Co-operators, Slice Labs chief […]
By Greg Meckbach | November 20, 2018
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