Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Fairfax Consortium Bids $4.7 Billion to Take BlackBerry Private
Sep 24 2013 // Smartphone maker BlackBerry has agreed to go private in a $4.7 billion deal led by its biggest shareholder, allowing the on-the-go email pioneer to regroup away from public scrutiny after years of falling fortunes and...
Alberta Floods Canada’s Costliest Natural Disaster
Sep 24 2013 // The massive floods that devastated swaths of southern Alberta in June are estimated to be the costliest natural disaster in Canadian history, with the Insurance Bureau of Canada pegging the property damage at C$1.7 billion...
Insurers Expect Increase in Personal Lines, Workers’ Compensation Fraud
Sep 13 2013 // One in three U.S. and Canadian insurers does not feel adequately protected against fraud and more than half expect personal lines and workers’ compensation fraud to increase this year. The survey by FICO, a...
TD Bank Profit Falls 10% on Weather Insurance Costs
Aug 29 2013 // Toronto-Dominion Bank’s quarterly profit fell 10 percent as Canada’s No. 2 lender took C$418 million in insurance-related charges, but the result topped estimates and the bank hiked its dividend by 5...
Canada Weighs Mandating Minimum Insurance for Railways
Aug 23 2013 // Canada should force railways to take out enough insurance to ensure they can cover damage caused by major incidents, the Canadian Senate said on Thursday in a report issued after last month’s train disaster in...
Canada Broadens Inspections of Aircraft Emergency Beacons
Aug 16 2013 // Canada on Thursday ordered airlines to inspect emergency beacons on a broad list of aircraft for possible wiring problems that could lead to a fire. The order from Transport Canada comes after a fire broke out on July 12...
Quebec Demands CP Railway Help Pay for Disaster Clean-up
Aug 16 2013 // The Canadian province of Quebec has ordered Canadian Pacific Railway Ltd to help pay clean-up costs after a train disaster that killed 47 people and said on Thursday the company has no choice in the matter. The disaster,...
Applied Systems Acquires Insurecom in U.K.
Aug 14 2013 // University Park, Ill.-based insurance software provider Applied Systems Inc. has acquired Insurecom, a software and connectivity solutions company focused on the insurance industry in the United Kingdom. Under the deal...
Lessons from U.S. Blackout of 10 Years Ago: Kemp
Aug 14 2013 // Exactly 10 years ago, at 15:05 Eastern Time on August 14, 2003, an overhead power line came into contact with an overgrown tree near Cleveland, Ohio. What happened next is a frightening case study of how vulnerable modern...
Railway in Quebec Train Disaster Gets Canada Bankruptcy Protection
Aug 9 2013 // The U.S. railway whose runaway train killed 47 people in a tiny Quebec town last month was granted bankruptcy protection from a Canadian court on Thursday and took steps in that direction in a U.S. court as well. Montreal...
Aon Benfield’s July Cat Report Confirms Canada’s 2nd Billion Dollar Loss
Aug 8 2013 // According to the latest Global Catastrophe Recap report from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, the “strong thunderstorms” that “brought record...
Lawsuit Filed in Illinois Over Canadian Train Explosion
Aug 5 2013 // The family of one of 50 people who died in a fiery Canadian oil-train explosion is suing the train’s Illinois owners. The wrongful death case was filed in Cook County Circuit Court on behalf of relatives of Jean-Guy...
CP Rail Subcontracted to MMA in Quebec Train Crash; Coverage an Issue
Aug 1 2013 // Canadian Pacific Railway, hired to transport oil from North Dakota to New Brunswick, subcontracted part of the job to the small railroad involved in the deadly crash in Lac-Megantic, Quebec, the company that chose the...
U.S. Safety Rule for Oil Trains Delayed for Year
Jul 31 2013 // The Obama administration has delayed by nearly a year a plan to boost safety standards for the type of rail car involved in a fiery explosion that killed at least 47 people in Canada this month. Officials began work on the...
Toronto Dominion Bank Warns of Insurance Losses from Weather Claims
Jul 31 2013 // Toronto-Dominion Bank, Canada’s second-largest lender, said it will take a third-quarter charge after tax of C$418 million (US$406 million) due to recent severe weather in Alberta and Ontario and to boost its...
Canada Insurer Industrial Alliance Targets C$500 Million Deal for Asset Manager
Jul 24 2013 // Industrial Alliance Insurance and Financial Services Inc., the best-performing Canadian insurer in the past year, plans to acquire a money manager in what would be the company’s biggest takeover. Industrial Alliance...
Travelers’ Q2 Profit Climbs 85% to $925M; Auto Unit Layoffs Planned
Jul 23 2013 // The Travelers Companies today reported net income of $925 million for its 2013 second quarter, an 85 percent jump from $499 million net income posted a year ago. The insurer credited lower catastrophe losses and continued...
Canada’s Intact Financial Sees $454 Mn Flood Losses; $24.2 Mn Train Crash
Jul 23 2013 // Canadian P&C insurer Intact Financial said it expected quarterly results would be hurt by losses from a train derailment and fiery explosion in a Quebec town and storm and flood damage in Canada’s oil capital,...
Canadian Investigators Want Rule Changes after Deadly Rail Crash
Jul 22 2013 // Canadian investigators issued their first recommendations on Friday after a devastating train wreck in Quebec, urging that trains hauling dangerous goods not be left unattended, and pushing for stricter guidelines on...
SCOR Estimates Net Pre-tax Losses from Alberta Floods at $52 Million
Jul 18 2013 // French reinsurer SCOR Group announced that “the June flood event in Alberta, which resulted in mass evacuations of people from their homes and major disruption to the Central Business District of Calgary, may...
