Tag: concerns

What are the top insurance concerns of Canadian farmers?



What are the top insurance concerns of Canadian farmers? | Insurance Business Canada















The agriculture industry has shifted dramatically – but not insurance

What are the top insurance concerns of Canadian farmers?

Insurance News

By
Gia Snape

Canada’s agricultural industry has shifted dramatically over recent decades. However, change within agriculture insurance has not kept pace, according to one managing general agent (MGA) catering to the sector.

Mass consolidation, the next generation of farmers taking over, and advancing technology have made an indelible mark on agriculture, according to First Acre Insurance CEO Robin Shufelt (pictured).

“We haven’t addressed those changes in a full way,” she told Insurance Business.

“The farms are getting bigger, they’re purchasing each other, and they have more expensive equipment. All that drives up their limits.

“We talked to farmers who had four different policies with different carriers, which became cumbersome and it’s a challenge for them. We also found that a lot of the insurance offerings that were out there today weren’t necessarily specific to the needs of farmers today.”

Top insurance concerns for Canadian farmers and farm businesses

Broker and farmer feedback informed the development of First Acre’s new agricultural platform.

According to Shufelt, insurance to value and having the right tools to address their risks were two significant concerns expressed by farm clients. 

“Equipment was a big one. All the big equipment they use is expensive, and if one fails, from a farming perspective, [equipment] can be quite challenging,” she said.

“But they’re also finding is that they would have a piece of equipment on day one, but in a year, their current provider couldn’t insure it anymore because the value had changed, and so that was causing problems as well.

“Farmers are also entrepreneurial, and they will run different businesses as

Canada news industry body backs Google’s concerns about online news law

FILE PHOTO: The logo of Google LLC is seen at the Google Store Chelsea in New York City

The logo of Google LLC is seen at the Google Store Chelsea in New York City, U.S., January 20, 2023. REUTERS/Shannon Stapleton/File Photo Acquire Licensing Rights

OTTAWA, Oct 12 (Reuters) – A Canadian news industry body on Thursday lent support to some of Google’s concerns about a new law that aims to make large internet companies share advertising revenue with news publishers in the country.

Alphabet’s (GOOGL.O) Google has made a “good faith articulation of legitimate concerns” that the Canadian government should address while finalizing rules to implement the law, said News Media Canada (NMC), which represents Canada’s top newspapers, including the Globe and Mail and the Toronto Star.

“We are in agreement with many of the issues they have raised,” NMC Chief Executive Officer Paul Deegan said in a statement first reported by the Globe.

The Online News Act, part of a global trend to make internet giants pay for news, passed the Canadian parliament in June and the government is finalizing rules that are expected to be released by a Dec. 19 deadline.

Canada tried addressing tech companies’ concerns about the law in draft rules released in September, but Google and Meta Platforms META.O were not convinced.

Google has raised concerns about the law establishing links to news stories as the basis of payment and said the proposed regulations did not address problems like imposing potentially uncapped liability on the company and limits on how it can support the news industry.

“We are aligned that there should be a firm ceiling, rather than a floor on financial liability,” Deegan said in the statement.

NMC also agrees with Google that eligible news publishers must have an online presence and that non-monetary measures such as training and product can be part of the remuneration, Deegan said.

“We will continue to

News media lobby group says it agrees with Google’s concerns about Online News Act

TORONTO — A lobby group for Canada’s newspapers and magazines says it agrees with many of the issues raised by Google about a law that will force the tech giant to compensate those same publishers for use of their work.

TORONTO — A lobby group for Canada’s newspapers and magazines says it agrees with many of the issues raised by Google about a law that will force the tech giant to compensate those same publishers for use of their work.

The concerns Google publicly outlined last week about the Online News Act are helpful, said Paul Deegan, head of News Media Canada, in a statement Thursday. 

“Google’s submission is a welcome, clear, constructive, good faith articulation of legitimate concerns,” he said. 

Deegan said News Media Canada, which represents hundreds of publications, agrees with Google that there should be a cap on how much it would have to pay under the law, that compensation could go beyond direct payments to also include things like training and that there need to be incentives to make sure Google and publishers come together to reach deals.

The Online News Act, set to come into effect in December, will force digital giants to negotiate deals with news publishers to compensate them for work that is shared or otherwise repurposed on their platforms.

Google said in its submission to government that the draft regulations for the act did not address its concerns, and that unless they are dealt with, it will remove news links from its search engine by the end of the year.

The company said it interpreted the draft regulations as having no cap on liability.

It also raised issues with the formula for determining how much it needs to contribute, noting that the $172 million per year the government estimated last month is

Canada tries to address news law concerns, Facebook not convinced

A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration

A 3D printed Facebook’s new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing Rights

OTTAWA, Sept 1 (Reuters) – Canada unveiled draft rules on Friday for a law to compel internet giants to pay news outlets, saying it was addressing the tech companies’ concerns, but Facebook said it would stick to plans to block news in the country.

Canada said the draft rules, designed to implement the recently-passed Online News Act, would address worries at Alphabet’s (GOOGL.O) Google and Facebook-parent Meta (META.O) that they could face an uncapped liability.

“The regulatory process is not equipped to address the fundamentally flawed premise of the Online News Act … today’s proposed regulations will not impact our business decision to end news availability in Canada,” Rachel Curran, Meta Canada’s head of public policy, said in a statement.

Canada’s Online News Act, part of a global trend to make internet giants pay for news, became law in June and is expected to come into effect in December after rules are finalized.

The legislation came after complaints from Canada’s media industry, which wants tighter regulation of tech companies to prevent them from elbowing news businesses out of the online advertising market.

Both Google and Facebook have said the law is unworkable for their businesses, and Meta ended news sharing on its platforms in Canada last month.

A spokesperson for Google said the company was reviewing the proposed regulations “to assess whether they resolve the serious structural issues” with the law.

According to the draft regulations, companies would need to voluntarily negotiate deals with news publishers and pay a portion of their global revenues, based on a set calculation.

The draft proposals are expected to raise C$172 million ($126.6 million)

Google should break up digital ad business over competition concerns, European regulators say

European Union regulators hit Google with fresh antitrust charges Wednesday, saying the only way to satisfy competition concerns about its lucrative digital ad business is by selling off parts of the tech giant’s main moneymaker.

The unprecedented decision to push for such a breakup marks a significant escalation by Brussels in its crackdown on Silicon Valley digital giants, and follows a similar move by U.S. authorities seeking to bust Google’s alleged monopoly on the online ad ecosystem.

The European Commission, the bloc’s executive branch and top antitrust enforcer, said its preliminary view after an investigation is that “only the mandatory divestment by Google of part of its services” would address the concerns.

The 27-nation E.U. has led the global movement to crack down on Big Tech companies — including moving closer to groundbreaking rules on artificial intelligence — but it has previously relied on issuing blockbuster fines, including three antitrust penalties for Google worth billions.

It is the first time the bloc has told a tech giant that it should split up key parts of its business over violations of the E.U.’s strict antitrust laws, though details on what that could look like are not clear following the preliminary finding.

Google can now defend itself by making its case before the commission issues its final decision. The company said it disagreed with the finding and “will respond accordingly,” adding that the E.U.’s investigation focused on a narrow part of its ad business.

“Our advertising technology tools help websites and apps fund their content, and enable businesses of all sizes to effectively reach new customers,” said Dan Taylor, Google vice president of global ads. “Google remains committed to creating value for our publisher and advertiser partners in this highly competitive sector.”

The commission’s decision stems from a formal investigation that

American Business Council of Pakistan Annual Survey Relates Concerns in Operating Businesses During Times of Economic Instability

The American Business Council of Pakistan (ABC), conducted its annual survey among 60 companies in its association to assess the current business environment in the country.

The survey findings reveal that the companies have made significant contributions during the Fiscal Year (FY) 2021-2022. However, significant apprehensions exist about the ease of operating business in the present and short-term future and concerns about Pakistan’s international perception have been raised, emphasizing the need for immediate government support and policies to facilitate the investment and expansion plans of American companies operating in Pakistan for the FY 2023 and beyond.

Key findings from the annual survey include:

Contributions: The participating companies have made substantial contributions to the Pakistan economy during the FY 2021-2022. This includes the cumulative revenue of PKR 847Bn, exports worth PKR 81Bn, a capital investment of 57 Bn in the L3Y and national exchequer amounting to PKR 159 Bn. These companies have also actively engaged in CSR activities, contributing significantly – PKR 1.6 Bn – to various social and community development initiatives. Their commitment to making a positive impact in Pakistan goes beyond business operations.

Future Investment: 61% of the companies expect a negative GDP growth in the FY 2023 and 83% have major concerns about operating business smoothly in this current short term economic scenario. 94% of the companies are, however, expect that the situation may turn around eventually and feel more optimistic about the long-term future but not the short-term. Nonetheless, 67% of the companies have plans for further investments and expansion in Pakistan in the FY 2023.

Ease of Doing Business: 48% of the respondents expressed concerns about a drastic decline in the ease of doing business in Pakistan. Cumbersome regulatory processes, bureaucratic hurdles and inconsistencies may be causing obstacles that hinder business operations and growth.

International Perception

Financial services sector’s top concerns revealed



Financial services sector’s top concerns revealed | Insurance Business America















New report examines biggest risks for the sector

Financial services sector's top concerns revealed

Insurance News

By
Ryan Smith



Cyber incidents, macroeconomic developments, and changes in legislation and regulation are the top risks for financial services companies, according to a new survey by Allianz Global Corporate & Specialty (AGCS).

The publication of AGCS’s Global Industry Solutions Financial Services Outlook follows the release of the Allianz Risk Barometer 2023 in January. The latest release is one of several risk trend briefings for specific industry sectors.

Cyber incidents ranked as the top overall risk for companies, the report found.

“Despite investing in significant levels of cybersecurity spend each year, respondents view the FS industry as highly exposed,” said Martin Zschech, global industry solutions director for financial services at AGCS. “The main threat for financial institutions is the attempt to repossess the assets they hold. This can be achieved in multiple ways – for example, through impersonation, cyber attack or falsified electronic correspondence.”

Cyber attacks

The banking industry alone saw more than a 1,300% increase in ransomware attacks in 2021, AGCS said.

“Attack methods can evolve quickly,” Zschech said. “For example, open-source AI tools can be used to craft highly personalized spear-phishing attacks. At the same time, the growing reliance of companies on third-party providers such as cloud computing services means they can be vulnerable to cyber attacks that have a knock-on effect across the financial system.”

Training and technology can help mitigate the risk of cyber attacks by minimizing human error, AGCS said.

Macroeconomic woes

Financial institutions are also feeling the impacts of macroeconomic developments. Inflation is likely to be one of the most challenging risks, particularly its long-term impact, AGCS said.

Inflation can mean that investments take

Canada parliament concerns Google execs over information-blocking check

OTTAWA, March 10 (Reuters) – Alphabet Inc’s Google (GOOGL.O) will end blocking information content from some Canadian users’ lookup effects on March 16, a enterprise executive advised a Canadian parliamentary panel investigating the tech agency on Friday.

Final month, Google began tests limited information censorship as a opportunity response to a Canadian federal government invoice that aims to compel online platforms to pay publishers in Canada for information content material.

Google has claimed that the test is like countless numbers of other solution assessments the corporation conducts on a typical foundation.

The exams, which the corporation claims influenced fewer than 4% of Canadian customers, commenced on Feb. 9 and had been scheduled to run for 5 weeks.

Speaking to a parliamentary committee investigating the exams, Google’s general public coverage supervisor Jason Kee confirmed that the tests would close future 7 days.

“I want to underline these are just tests. No choices have been made about solution alterations,” Kee said.

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Final month, Canadian Prime Minister Justin Trudeau explained it was a “awful blunder” for Google to block news written content in reaction to “On the net Information Act,” a govt bill that produced guidelines for platforms like Meta’s (META.O) Facebook and Google to negotiate commercial bargains and pay out information publishers.

“It definitely surprises me that Google has made a decision that they’d relatively protect against Canadians from accessing news than truly having to pay journalists for the get the job done they do,” he explained at the time.

All through the panel, issues were elevated about community journalism shops, like the 13-14 community, weekly papers that MP Martin Shields has in his using.

“Blocking is anything that I imagine irritates the regional persons, the grassroots individuals. The unintended implications right here of this go,

Leading Ten Concerns In 2017

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