Claims
More than one-third of consumers in the United States experienced a computer virus, hacking incident or other cyberattack in the past 12 months, according to a new survey by Zogby Analytics for The Hartford Steam Boiler Inspection and Insurance Company (HSB). International Research firm Zogby Analytics was commissioned by Hartford, Conn.-based HSB to conduct an […]
By Canadian Underwriter | September 13, 2016
2 min read
A reinsurance program can help mutual insurers free up funds that can be spent elsewhere, while index-based insurance can help provide coverage for business interruption not caused by property damage – such as software and electrical power failures – Swiss Re Ltd. suggested in a recent report. Swiss Re released Monday a sigma study titled […]
The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view, suggests a report released Tuesday by Allianz Global Corporate & Specialty (AGCS). “As drones are […]
By Angela Stelmakowich | September 13, 2016
5 min read
CALGARY — Resiliency plans are unlikely to ever be perfect, but they are an increasingly important element of an organization’s response to crises, two speakers who as individuals and members of their companies were intimately affected by the 9/11 terror attacks suggested Monday during the RIMS Canada Conference. Neil Harrison, global head of claims for […]
CALGARY — Darius Delon, chair of the RIMS Canada Council, had a very simple message for those attending the annual conference in Calgary Monday: every organization can be hit by disaster, so every organization needs to be resilient. Scenario brainstorming, what can happen regardless of frequency, and “acknowledging these incidents can and have happened in […]
3 min read
RSA Canada announced Monday a new directors’ and officers’ liability insurance product that sits on top of a D&O tower, is intended for the use of the individual directors and officers only and covers the cost of pollution clean-up orders. “The traditional D&O policy limit is actually shared with the entity, whose exposures are considerably […]
By Jason Contant | September 12, 2016
4 min read
Catastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other select countries, including Canada, to help companies assess the impact of different attack scenarios on their portfolios and better manage their global terrorism risk. […]
By Canadian Underwriter | September 12, 2016
Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property and casualty insurance industry registering a small rise for the first time in several years, according to Aon Benfield’s September 2016 edition of its Reinsurance Market Outlook report. Released on Sunday at Aon Benfield’s Monte Carlo Rendez-Vous press […]
DETROIT – Nissan is recalling about 134,000 cars and SUVs worldwide, including 10,819 in Canada, because brake fluid could leak and cause fires. In some cases, the company says people should park the vehicles outside until they are fixed. The recall covers certain 2015 to 2017 Murano SUVs and 2016 to 2017 Maxima large cars […]
By Jason Contant | September 9, 2016
Saskatchewan’s Ministry of the Economy announced on Friday that it will be implementing a province-wide inspection of all oil pipelines that cross Saskatchewan rivers or lakes where a potential failure could pose a threat to municipal water supplies. The Ministry of the Economy said in a statement that the inspection program is in response to […]
By Canadian Underwriter | September 9, 2016
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