Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada Regulator Proposes Banks, Insurers Hold More Capital to Tackle Mortgage Risks
Jul 12 2023 // Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in home loan...
People Moves: Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions; BMS Re Hires 3 for Fac Team; QBE Canada Hires Liberty Mutual’s Mason as U/W Mgr, Property
Jul 7 2023 // This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has...
Canada’s Record Wildfire Season Set to Worsen as Heat Builds
Jul 7 2023 // Canada is bracing for higher-than-normal wildfire activity to continue into August, as soaring temperatures and drought turn much of the country’s vast forests into kindling. The Canada fire season, which normally...
Definity’s McDougall Insurance Brokers to Acquire Canada’s Drayden Insurance
Jun 30 2023 // McDougall Insurance Brokers Ltd., the Belleville, Ontario-based subsidiary of Definity Financial Corp., announced it has entered into a definitive agreement to acquire 100% of Drayden Insurance Ltd. for C$208 million...
Canadian Wildfires Are Causing Unhealthy Air Quality Again in Chicago, Other Parts of the US
Jun 29 2023 // CHICAGO (AP) – Drifting smoke from the ongoing wildfires across Canada is creating curtains of haze and raising air quality concerns throughout the Great Lakes region, and in parts of the central and eastern United...
Smoke from Canadian Wildfires Causes Unhealthy Air Quality in Minnesota
Jun 28 2023 // ST. PAUL, Minn. (AP) – Wildfire smoke from Canada promoted officials on Tuesday to issue a record 23rd air quality alert for much of Minnesota through late Wednesday night as smoky skies obscure the Minneapolis and...
Canada’s British Columbia Highway 99 Closed Due to Brush Fire
Jun 27 2023 // Canada’s British Columbia Highway 99 was closed in both directions on Monday due to a brush fire, the British Columbia Wildfire Services (BCWS) said in a post on Twitter. The brush fire broke out in southwest of...
Canada’s Explosive Wildfires Damage Forest Set Aside for Carbon Offset Project
Jun 26 2023 // Canada’s explosive wildfire season has already pumped millions of tons of carbon dioxide into the atmosphere. Some of that carbon is coming from vegetation burned at a carbon offset project, highlighting the...
Russia-Aligned Hackers Pose Threat to Canada Energy Sector, Spy Agency Says
Jun 23 2023 // Russia-aligned hackers could seek to disrupt Canada’s powerful oil and natural gas sector, especially since Ottawa is a strong backer of Ukraine, a Canadian spy agency said on Wednesday. The Communications Security...
Canadian Wildfires Shutter Sawmills, Drive Up Lumber Prices
Jun 13 2023 // Canada’s worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due to higher...
Wildfires Force Miners to Halt Operations in Eastern Canada
Jun 7 2023 // Several mining companies have temporarily halted operations and exploration activities in eastern Canada as unprecedented wildfires rage. Iron Ore Co. of Canada, which is majority owned by Rio Tinto Group, is in the...
Canada on Track to See Worst-Ever Wildfire Season
Jun 5 2023 // Canada is on track to see its worst-ever wildfire season in recorded history if the rate of land burned continues at the same pace. The country is experiencing an unprecedented amount of fire activity for this early in the...
Wildfire on Canada’s Atlantic Coast Prompts Evacuation of 16,000, Damages Properties
Jun 1 2023 // A wildfire on Canada’s Atlantic coast has damaged about 200 houses and other structures and prompted the evacuation of 16,000 people, many of whom were eager to return Tuesday to see whether homes and pets had...
Cyber Attack Could Threaten Canada’s Overall Financial Stability: Central Bank
May 23 2023 // The Bank of Canada on Thursday [May 18] said it was worried that a major cyber attack on one part of the financial system could quickly spread and threaten overall financial stability. In an annual review of Canada’s...
Update: Wildfires Rage Across Canada’s Gas Heartland, Cutting Production
May 8 2023 // Wildfires raging across western Canada forced the evacuation of 30,000 residents and cut at least 234,000 barrels a day of oil and gas production as companies shut down wells and pipelines. A total of 100 blazes were...
Housing Market Downturn Among Top Risks to Canada’s Financial System: Regulator
Apr 21 2023 // A potential downturn in Canada’s housing market and adjusting to rapid increases in interest rates are among the biggest risks to Canada’s financial system this fiscal year, the country’s financial...
Hyundai Auto Canada Guilty of Safety Violation, Transport Canada Says
Apr 19 2023 // Transport Canada said on Tuesday Hyundai Auto Canada Corp pleaded guilty to six different counts of criminal charges for violating the Motor Vehicle Safety Act. Hyundai Auto Canada failed to send out notices of safety...
Canada’s Desjardins Is Seeking Property/Casualty Insurance Acquisitions
Apr 19 2023 // Canada’s Desjardins Group is seeking acquisitions in the property and casualty (P/C) insurance space as it seeks to boost its presence across the country, CEO Guy Cormier told Reuters on Tuesday. Cormier said the...
HDI Global Specialty Launches Digital Platform for General Aviation in Canada
Mar 27 2023 // HDI Global Specialty SE (HDI) has launched a new insurance platform in Canada which delivers general aviation policies to brokers in minutes. The platform, called “Aviation IQ” delivers end-to-end digital...
Toxic Spills at Alberta’s Oil Sands Spur Canada to Boost Regulatory Oversight
Mar 21 2023 // Canada’s federal government is stepping up environmental oversight in Alberta’s oil sands after Imperial Oil Ltd. and the provincial regulator were slow to report toxic spills. Environment Minister Steven...
