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War and other factors loom over shipping sector: report

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

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Regulations for insuring self-driving cars required sooner rather than later, lawyers say

Canada is not ready to insure even partially automated vehicles (AVs), but the move towards fully-automated vehicles could be here by as early as 2026, warn lawyers at Borden Ladner Gervais LLP. Provincial legislatures will therefore need to update their

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Westland expands reach into Ontario with recent acquisitions

Westland Insurance Group Ltd. has broadened its place in commercial and personal lines with the recent acquisition of two Ontario-based brokerages: MCR Insurance in Aurora and Walter Roberts Insurance in Richmond Hill.  Ontario is an area of strategic importance, Westland

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Man killed in Saskatchewan train car accident

EDGELEY, Sask. – A Saskatchewan man is dead after the road maintenance vehicle he was driving collided with a train on Thursday afternoon. It happened about three kilometres west of Edgeley, Sask. at a level crossing around 12 p.m. Thursday

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Members of the Canadian Independent Adjusters’ Association Ready to Respond

TORONTO, ON, MAY 27, 2022/insPRESS/ – CIAA MEMBER FIRMS confirm they have both capacity and ability to provide claims resources to those impacted by the powerful thunder/wind storms affecting Ontario and parts of Québec on Victoria Day weekend. “For over

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How better risk controls have helped Canada’s P&C industry thrive

Over the past 20 years, a transition from traditional risk management approaches to enterprise risk management (ERM) helped Canada’s property and casualty insurance industry post stronger performance and financial health, compared with many other industries. A recent Insurance Institute study

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Fume all you want, don’t hit erratic drivers in front of you

No matter how much a driver might fume about the slow driver ahead, the driver behind him is still responsible for maintaining a safe distance to avoid a collision — even if the slow driver tries to block the driver

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OSFI posts new guidance on climate risk stress testing

The Office of the Superintendent of Financial Institution’s (OSFI) newly released draft of Climate Risk Management may mean P&C insurers will have to include climate scenario analysis as a part of their stress testing — and it may require insurers to

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Auto insurance: How to handle acid spill claims

Insurers would be well-advised to have experts and claim-handling protocols on hand to identify unique claim situations such as the two sulphuric acid spills in Trail, B.C. several years ago, two forensic engineers say. On Apr. 10 and May 23,

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Emergency alerts when severe weather happens can be improved: Environment Minister

OTTAWA – Emergency weather alerts that are broadcast over the mobile network should be improved to make sure they are getting to the right people at the right time, Environment Minister Steven Guilbeault said Wednesday. Guilbeault is in Germany for

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Insurance Institute of Ontario- How FSRA is Encouraging Outside of the Box Thinking

In January 2022, the Financial Services Regulatory Authority of Ontario (FSRA)’s Innovation Office released its Innovation Framework and Test and Learn Environment Guidance. FSRA is committed to collaborating with innovators and businesses to encourage experimentation and promoting outside of the

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Insurance Institute of Ontario- Virtual Escape Room

Grab a drink and a device and try something thrilling that blends collaboration, creativity, and a dash of competition. Escape rooms are a popular game for people looking to use logic and puzzle-solving capabilities to ‘escape’ from some complicated situations.

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Insurance Institute of Ontario- Reinsurance 101

Considered the insurance of the insurers, Reinsurance can be a tricky concept to understand. There are many reasons why an insurer would need reinsurance, and it is important for both senior and entry-level staff to understand. To help you, attend

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Insurance Institute of Ontario- Blockchain, Smart Contracts & AI: Broker Challenges & Opportunities in Emerging Tech

Blockchain. Smart contracts. Artificial intelligence. What are these technologies, and what do they have in common? With businesses continuing to evolve their operations, technology is advancing. These emerging areas of technology are impacting the insurance industry, and as an Agent

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Insurance Institute of Ontario- Forensic Injury Biomechanics of MVAs

In this webinar we will explore how experts investigate MVAs (Motor Vehicle Accidents) when damages are contested. We look at how occupants move during different types of collisions, research on human injury tolerances, crash test dummies, injury probability and how

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IBAO Event: Young Brokers Conference

WE’LL SEE YOU THERE | YBC 2022 In its 17th year, our Young Broker Conference has been reimagined once again to offer you the choices and content you’re looking for. Offered both in-person and virtually for the first time ever,

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Top leadership changes at Allstate Canada

Allstate Insurance Company of Canada has announced London Bradley is its new president and CEO. Bradley assumed the role of president and CEO of Allstate Canada, Pembridge Insurance Company, Pafco Insurance Company and Ivantage Insurance Brokers Inc. (collectively ACG), effective

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Unhappy staff? Here’s how to help re-energize them

Aiming for work-life alignment and not work-life balance can help re-engage dissatisfied mid-career employees, a Washington Post best-selling author says in a recent blog for Harvard Business Review. “It’s not just about the time they spend at work, but about

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How to speed up claims response for NatCats

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

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Was derecho storm damage caused by climate change?

The Long Weekend derecho storm in Ontario and Quebec, which spawned a tornado in Uxbridge, Ont., and resulted in over 1,000 kilometers of damage, is “very difficult” to credit as a climate change event, even though the industry is seeing

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Stakes are high for farmers as 2022 crop shapes up to be most expensive in history

CALGARY – The stakes are high as Canadian farmers take to the fields to plant 2022’s crop, which some are saying could find a place in the record books as “the most expensive ever.” On her family’s farm northeast of

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First Onsite elevates commercial and large loss teams with key appointments

MISSISSAUGA, ON, MAY 25, 2022/insPRESS/ – First Onsite Property Restoration, Canada’s leading property restoration company, has bolstered its commercial and large loss leadership teams with five key promotions: Beck Wells to Senior Vice President, Commercial Operations; Travis Stieb to Director

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Insurers must defend, even if damage falls below the deductible

Insurers have a duty to defend in construction cases involving policy exclusions for a “work performed” or “own work,” even if the amount of property damage claimed falls under the policy deductible, Ontario’s Court of Appeal has ruled. In GFL

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How low can Ontario auto insurance rates be slashed?

The Ontario NDP’s proposal to lower auto insurance rates by 40% may be a little high, but a 25% to 30% cut in total premiums is possible, says financial management consultant David Marshall. In its platform released before the upcoming

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First Cat of the year predicted after powerful “derecho” storm

A series of powerful thunderstorms that affected Ontario and parts of Quebec this weekend is already being billed by the industry as the first major Cat of 2022. And while industry experts anticipate a large number of insured damages, one

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Manitoba premier tours flooded cottage country as waters continue to rise

WINNIPEG – Manitoba Premier Heather Stefanson has taken a helicopter tour of a flooded region in the eastern part of the province. Stefanson says the amount of water is overwhelming in Whiteshell Provincial Park, the latest area to be hit

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Purves Redmond Limited Appoints Richard Doherty as President

TORONTO, ON, MAY 24, 2022/insPRESS/ – Purves Redmond Limited (“PRL”) announced today that Richard Doherty has been appointed President of the organization as part of PRL’s strategy to continue to build its leading edge, independent, Canadian insurance and benefits brokerage.

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Origin and Cause Welcomes Mike Goldberg to Fire and Explosion Investigation Team in Ottawa

TORONTO, ON, MAY 24, 2022/insPRESS/ – Origin and Cause, Canada’s largest forensic engineering and fire investigation firm, is pleased to welcome Mike Goldberg to the Fire and Explosion Investigation team in Ottawa, Ontario.    Mike is Fuels Specialist and Certified Fire

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2022 May Broker Bash

Broker Bash is back! It’s been 2 long years but we are happy to announce the return of the industry’s most popular networking event, Broker Bash. Join FIRST Canada on Thursday May 26 to celebrate the highly anticipated return of

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CHES Special Risk Offers ‘Start-up Insurance’ while Many Decline

“If winter comes, can spring be far behind?” TORONTO, ON, MAY 24, 2022/insPRESS/ – Well, just like winter has at last yielded to spring, similarly the loss of life and crushing economic hardships after pandemic seems to be coming to

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