As title insurance can be a difficult concept to understand, we have set out to describe relevant aspects of title insurance, as well as the alternatives to title insurance, in order to help better inform purchasers.
Coalition, the leading cyber insurance and security company in the US, today announced it is expanding its offering to Canada-based companies, providing proactive cybersecurity products and services and best-in-class cyber and technology error & omissions insurance to help keep businesses safe. Coalition will offer up to CAD $20 million of comprehensive insurance coverage supported by the financial strength of Swiss Re (A.M. Best A+) to companies with up to CAD $1 billion in annual revenue. Through Coalition’s online platform, licensed insurance brokers are able to generate a quote in minutes and also provide their clients with access to Coalition’s proprietary cybersecurity tools and services that are designed to detect, mitigate, and contain threats at no additional cost.
Cyber threats know no boundaries — technology has introduced a range of new threats to businesses irrespective of their location that are not well covered by traditional insurers. Coalition’s global cybersecurity platform provides businesses the risk management support they need most, including help preventing incidents in the first place, and support during and after a crisis. With this expansion, Coalition is proud to advance its mission to solve cyber risktogether with Canadian businesses by not only helping to prevent cyber attacks, but helping businesses survive them when they occur.
“Cyber risk is a global problem in need of a global solution,” said Shawn Ram, Head of Insurance at Coalition. “The future of cyber security and insurance are integrated solutions to protect against cyber incidents across all asset types. We’re excited to make this future a reality across the Canadian market.”
Coalition’s approach to cyber insurance is rooted in risk management and mitigation, bringing together cyber security expertise with the safety of insurance to provide the first truly holistic approach to solve cyber risk:
- Risk mitigation: Coalition provides free cybersecurity tools to help businesses manage and mitigate cyber risk, and comprehensive cyber insurance to help them recover after an incident. Coalition’s comprehensive solution helps companies improve their cybersecurity, mitigate incidents when they occur, and help companies recover financially in the aftermath.
- Superior claims handling and incident response: all policyholders receive 24/7/365 access to Coalition’s in-house team of security and incident response experts. Together with hand-picked partner firms (including public relations, legal, and crisis management experts), Coalition stands ready to help organizations quickly recover from a cyber incident.
- Aligned incentives: Coalition is changing the paradigm in cybersecurity by aligning economic incentives with its customers. Unlike a traditional cybersecurity company, Coalition shares its customer’s incentives to prevent and mitigate losses.
“Coalition is more than just an insurance solution,” said Joshua Motta, CEO of Coalition. “Our expansion into Canada will give us greater visibility into cyber losses, and even more resources to combat cybercrime, on a global basis.”
For more information, visit coalitioninc.ca.
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across all 10 provinces in Canada. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, and now Vancouver and Toronto.
In a recent decision an Ontario court found that an insurer has a duty to defend both the main action and a third party claim in a privacy class action stemming from the disclosure of an allegedly defamatory report authored by the Family and Children Services of Lanark (“FCS”). The report was stored in a secured portion of the FCS website prior to being exposed by a hacker and posted on various internet sites viewable by the general public. The individuals whose personal information was exposed in the report initiated a class action against, among other parties, FCS and Laridae Communications Inc. (“Laridae”).
Laridae, a third party in the class action, was retained by FCS to ““review and refresh” FCS’s website to ensure that the new website and its components are compliant with privacy and other legislative requirements”.
The insurer in question issued two policies to Laridae; a CGL policy and an E&O policy. The insurer admitted that the claims would be covered by the policies, but for the application of the “data” exclusions in each policy, which differed significantly.
The relevant exclusions provided as follows, according to the decision:
The “data exclusion” clause contained in the E&O Policy provides as follows:
There shall be no coverage under this policy in connection with any claim based on, attributable to or arising directly, or indirectly from the distribution or display of “data” by means of an Internet Website, the Internet, an Intranet, Extranet, or similar device or system designed or intended for electronic communication of “data”.
The“ data exclusion” clause contained in the CGL Policy (wherein Laridae is the primary insured and FCS is an additional insured) states:
- Liability for:
- erasure, disruption, corruption, misappropriation, misinterpretation of “data”;
- erroneously creating, amending, entering, deleting or using “data”;
Including any loss of use therefrom;
- “Personal injury” arising out of the distribution or display of “data” by means of an Internet Website, the Internet, an intranet, extranet, or similar device or system designed or intended for electronic communication of “data”.
All parties agreed that these specific exclusions had not been interpreted by any court in a prior decision. Despite that, the insurer brought an application for a declaration that it did not have a duty to defend either Laridae or the FCS in the class action.
The Court started from the proposition that as long as there is a “possibility” that one or more of the claims being brought might be covered by the applicable policy, then the insurer would have a duty to defend. The Court noted that the claims being advanced were quite broad and went well beyond simple publication or distribution of data. Based on the broad spectrum of allegations and claims, the Court found that there were at least some claims in the statement of claim that were possibly covered, and as such found that the insurer owed a duty to defend.
The Court also found that given the lack of any jurisprudence on the application of the data exclusions, it was not prepared to accede to the insurer’s denial of a duty to defend at a preliminary stage, and stated that any such determination should be made with a more fulsome record. Considering this position, one wonders what might have been missing from the record before the court in the present applications.
Having found that the insurer owed the Defendants a duty to defend, the insurer was order to pay for counsel of the insured’s choice, and that counsel has no obligation to report to the insurer.
See: Laridae v. Co-operators, 2020 ONSC 2198
Winnipeg, Manitoba, June 18, 2020 (GLOBE NEWSWIRE) — The Wawanesa Mutual Insurance Company (Wawanesa) today announced its Caring Together initiative, which features $1.8 million in new financial support for communities in need arising from the COVID-19 pandemic and the fight to end systemic racism.
These funds are in addition to the $3.5 million Wawanesa previously committed in donations to hundreds of community organizations in Canada and the United States this year.
“As a mutual insurer, Wawanesa is guided by values that focus on being a positive force in our communities,” said Wawanesa President and CEO, Jeff Goy. “The health and economic disruption caused by the COVID-19 pandemic, and the growing outrage against systemic racism, are powerful forces affecting our communities. Given these unprecedented times, companies like ours have a responsibility to step up and do more.”
Caring Together has three areas of focus where funds will be allocated.
COVID-19 support – providing funding to Indigenous and remote Northern communities, United Way centres, hospital foundations, and food banks in Canada and the United States.
Civil rights – providing funding to civil rights and social justice organizations in the United States and Canada focused on supporting Black communities.
Employee and broker partner donation matching – a dollar-for-dollar donation matching program open to Wawanesa employees and the company’s insurance broker partners.
“These funds will allow True North Aid to support many Indigenous Peoples and their families as we continue providing practical humanitarian assistance during this difficult time,” said Kenneth Smid, Executive Director of True North Aid. “To support Indigenous self-determination, we work directly with members of the communities to develop plans and make sure that together we are meeting their needs – work that has taken on even more urgency during the COVID-19 pandemic.”
“We’ve seen many changes in our community since the COVID-19 pandemic hit,” said United Way Winnipeg President and CEO, Connie Walker. “More people are living with uncertainty. We know stress is high and more people are living in or on the edge of poverty. There has been a toll on our mental health, our relationships and our financial security. United Way Winnipeg is very grateful to Wawanesa in helping to address urgent needs for our most vulnerable in these challenging times, helping to ensure no one is left behind.”
The details of Wawanesa’s Caring Together commitments are:
- $500,000 will go to United Way’s COVID-19 Response to increase its support for local community partners in Canada and U.S, providing people and families with food, shelter, and mental health support in disadvantaged and marginalized communities.
- $400,000 will go to Indigenous and remote northern communities, supporting needs identified by the communities themselves. To help identify those needs and distribute funds, Wawanesa has teamed up with the Canadian Red Cross and True North Aid.
- $400,000 will go to civil rights and social justice organizations supporting Black communities in the U.S. and Canada, specifically the National Urban League, National Association for the Advancement of Colored People (NAACP), Black Health Alliance and the Black Business and Professional Association.
- $250,000 will go to hospitals in Canada and the U.S. to support frontline healthcare workers and COVID-19 research.
- $250,000 will support a dollar-for-dollar donation matching program, open to all employees and our brokers.
The Wawanesa Mutual Insurance Company, founded in 1896, is the largest Canadian Property and Casualty Mutual insurer with $3.9 billion in annual revenue and assets of $10.5 billion. Wawanesa Mutual, with executive offices in Winnipeg, is the parent company of Wawanesa General, which offers property and casualty insurance in California and Oregon; Wawanesa Life, which provides life insurance products and services throughout Canada; and Western Financial Group, which distributes personal and business insurance across Western Canada. With more than 5,700 employees, Wawanesa proudly serves more than two million policyholders in Canada and the United States. Wawanesa actively gives back to organizations that strengthen communities where it operates, donating well above internationally recognized benchmarks for excellence in corporate philanthropy. Learn more at wawanesa.com
“Game-changer”: SGI CANADA and CSSI Pilot Real-Time Data Exchange for Policy Change Requests
Regina, SK and Virden, MB – June 18, 2020 – SGI CANADA and Custom Software Solutions Inc. (CSSI) are pleased to announce they are piloting the first real-time, personal lines policy change request transaction in Canada, starting and ending in the broker management system (BMS).
The process connects CSSI’s broker management system, The Broker’s Workstation, rating service IntelliQuote (IQ) and SGI CANADA’s policy management system, transferring data between the systems in real time using CSSI’s I-Company carrier integration product. It allows brokers working with SGI CANADA to underwrite, rate and submit a policy change in real time from their broker management system to the insurer. If accepted, a revised policy will be returned in real time, including the eDocs policy document.
“This is a game-changer,” said SGI CANADA’s Chief Digital and Information Officer Dawn Bloom. “By giving brokers the ability to make changes to our personal property policies within their own BMS, we’re making it easier for them to do business with us and improve the customer experience overall.”
“We know brokers have been asking for the ability to transact business with insurers through their own broker management systems for many years, and SGI CANADA is proud to be among the first insurers in Canada to step up to provide the solution,” she continued. “It’s vital for the entire industry to get on board with the development of application program interfaces that can seamlessly integrate these systems.”
This pilot is the most recent phase in an overall project that includes quote, new business, policy change, cancellation and renewal transactions in real time, with not only The Broker’s Workstation, but also Keal Technology’s SIG platform and other industry BMS solutions, all starting and ending in the BMS. The solution is designed to adhere to the Insurance Brokers Association of Canada real-time data exchange principles using CSIO standards and will be deployed to all regions where SGI CANADA operates. This latest phase builds on the integrated rating and real-time new business submission and issuance announced last year.
“We’re excited to be piloting the first standards based, real-time policy change transaction process of its kind in Canada,” said Brock Andrew, COO of CSSI. “We have 20 years of experience working on real-time transactions including policy change and to see it working with a broker committed partner such as SGI CANADA utilizing our I-Company solution is rewarding. Automating the change request workflow opens the door for incredible efficiency gains for both
the broker and carrier and can deliver enhanced customer service our distribution model requires.”
About SGI CANADA
SGI CANADA is the property and casualty insurance division of SGI, offering products in five Canadian provinces. It operates as SGI CANADA in Saskatchewan, British Columbia, Alberta, Manitoba, and Ontario, and also as Coachman Insurance Company in Ontario. Products are sold through a network of independent insurance brokers.
About Custom Software Solutions
Custom Software Solutions Inc. (CSSI) is a leader in real-time digital solutions and business process automation systems for insurance brokers, companies and MGAs in Canada. Our proven broker and MGA products are The Broker’s Workstation (TBW), IntelliQuote, I-Client and The Underwriter’s Workstation (TUW). Our insurance company products are I-Company, I- Broker and I-Biz. Together, they are increasing productivity and decreasing operating expenses for both brokers and companies. The CSSI team includes insurance industry professionals and computer technologists and programmers. For more information, visit our website at www.cssionline.com.
By David Paddon
THE CANADIAN PRESS
TORONTO _ COVID-19’s devastating impact on seniors in the months since the virus became a global menace has many Canadians wondering what can be done to protect their aging loved ones.
Experts say that too often, people fail to anticipate the long-term needs of aging and are unaware of the various forms of government assistance available to them.
A good way to start the planning process is to learn about the multitude of government programs and tax credits that can reduce the financial burdens for seniors and their families, says Robyn Thompson, president of Castlemark Wealth Management in Toronto.
“Take free money where you can,” Thompson says. “Make use of all the available resources. And then look to your investments and your portfolio after that.”
For example, Canada Revenue Agency lists 134 different types of medical expenses that are eligible to reduce taxable income.
“There have (also) been some pretty interesting government initiatives that have come out to try to help seniors and help them through this pandemic,” Thompson says.
But even without an event like the pandemic, Thompson says families should be proactive about making adjustments now after determining what their seniors may need in future.
For example, if the senior is likely to live in their own home or their child’s home, Thompson suggests having a budget to install ramps, stair lifts or an accessible bathroom.
Alternatively, it may be necessary to have the funds available for the senior to move into a retirement home or long-term care facility that provides more support services.
Isobel Mackenzie, the B.C. government’s seniors advocate, says each province provides some sort of subsidy for seniors in nursing homes or long-term care facility.
These types of facilities provide extensive medical support and the basics of living for people who may be physically or mentally unable to take care of themselves.
But details of who qualifies for subsidies vary by province, she adds.
“In B.C., and most provinces, it’s based on your income. Or there’s a flat fee and then there’s a discount if you have low income,” Mackenzie says.
“You do pay something towards it but everybody can afford it. It’s designed that way.”
Some provinces, but not all, provide some support for assisted living or retirement home living, which provide less medical intervention than long-term care.
“So, for example, Ontario doesn’t give any financial support for that. Alberta gives quite a bit of support. And B.C. gives some support,” Mackenzie says.
Similarly, she says, only some provinces provide funding for personal support workers for seniors who have medical or mobility needs but still live at home.
“The degree to which it’s available varies from province to province and the degree to which people have to pay for it varies from province to province,” Mackenzie says.
Ontario, for example, pays the cost of at-home visits by personal support workers.
Colin Marcus, a financial planner at YourLife Financial in Toronto, says some of his clients in their 80s now are still living independently but they’ve got the funds to make choices about where they can go if the need arises.
Often they want to avoid becoming a burden on their kids, Marcus says.
“Nobody wants to do that, either financially or emotionally or physically.”