Insurable Interest Canadian Insurance Blog

By Saadia Zahidi, Managing Director, World Economic Forum — Read the Global Risks Report 2026 here and join the conversation using #Risks26. The annual Global Risks Report offers a view of global risks at the start of each year, focusing global leaders on addressing emerging challenges and their potential knock-on effects. It does not offer predictions, nor does it suggest that the future is predetermined. Instead, it provides a range of potential futures with a view to prevention and management. Three years ago, the 18th edition of the Global Risks Report considered the possibility of a “polycrisis”, as risks from multiple domains unfold at the same time. This 21st edition of the Global Risks Report explores how a new competitive order is taking shape and its impact across multiple concurrent risk domains. We are witnessing the turmoil caused by kinetic wars, the deployment of economic weapons for strategic advantage, and growing fragmentation across societies. And as these “here and now” risks unfold, longer-term challenges, from technological acceleration to environmental decline, continue to create knockon effects across systems. In parallel, rules and institutions that have long underpinned stability are increasingly deadlocked or ineffective in managing this turbulence. While this report examines...

Armonk, NY (Jan. 7, 2026) – Generative AI is reshaping the first steps of our shopping experience before we ever click “buy.” From hyper-personalized suggestions to curated inspiration, influence now begins long before a store visit or app tap, moving where brands and retailers compete to an entirely new level. A new global study* from the IBM Institute for Business Value, in collaboration with the National Retail Federation (NRF), found that while nearly three-quarters of surveyed consumers (72%) still shop in stores, almost half (45%) turn to AI for help during their buying journeys. Shoppers still want to see and touch products, but today’s savvy consumers increasingly arrive with a sense of what they’re looking for and why. They are using AI to research products (41%), interpret reviews (33%), and hunt for deals (31%). “AI is changing how consumers shop, and every aspect throughout the shopping journey,” notes Caroline Reppert, Senior Director, AI and Technology Policy at the National Retail Federation, “As these technologies increasingly guide consumer discovery, comparison, and choice, retailers that understand and respond to this shift will be best positioned to earn trust, relevance, and long-term customer loyalty.” From browsing to guided buying: How AI is shaping...

Toronto, ON (Jan. 7, 2026) – BMO Insurance is pleased to announce a new service in partnership with Empathy, the technology company transforming how the world plans for and navigates life’s most difficult moments, to provide access to personalized, comprehensive, on-demand support for the challenges many beneficiaries face when navigating the loss of a loved one. Empathy Loss Support is now available for all current BMO Insurance Term Life, Universal Life, Whole Life, Term 100, and Critical Illness policies with a Return of Premium on Death (ROPD) rider. BMO Insurance is among the first to bring bereavement support to Guaranteed Investment Funds. “Supporting our clients means being there for them not only in moments of financial decision-making, but also during some of life’s most challenging times,” said Rohit Thomas, President and CEO, BMO Insurance. “Through our collaboration with Empathy, we’re extending our care beyond financial services, offering meaningful, on-going support when it’s needed most.” Empathy’s support through this BMO Insurance partnership includes: One-to-one guidance from a dedicated Care Team member. Personalized plans to help navigate estate settlement, funeral planning and other administrative tasks. Grief resources to support emotional well-being during difficult times. Other Benefits Include: Probate and estate guidance, ID...

Calgary, AB (Jan. 12, 2026) – Avalon Master Builder, in partnership with Aviva Canada, the Institute for Catastrophic Loss Reduction (ICLR), and the Canadian Home Builders’ Association (CHBA), has launched a pilot project to integrate resilience measures into new multi-family buildings in southern Calgary. The initiative will demonstrate practical ways to reduce hail and wind damage—two of the most costly and frequent causes of property loss in Alberta. Calgary residents have experienced firsthand the devastating impacts of extreme weather. Recent hailstorms have damaged tens of thousands of homes and rank among the most expensive natural disasters in Canadian history. Recognizing the need for change, Avalon Master Builder is taking proactive steps to embed resilience into the design and construction of new homes. The new buildings will feature hail-resilient roof coverings and siding, as well as enhanced structural measures to withstand high winds. These progressive building practices aim to reduce repair costs, insurance claims, and disruption for homeowners—while increasing the overall durability and lifespan of homes in the region. “Building homes that stand up to Canada’s changing climate is part of our commitment to long-term value and safety for our customers,” said Chris Williams, President of Avalon Master Builder. “This project...