Claims
SAN DIEGO – Cyber attacks – once again identified as a top critical business risk – are expected to be a source of emerging risks, but forecasting for all emerging risks could prove more challenging over the next three years, suggests a new report released Monday by Marsh and RIMS. In all, 48% of risk […]
By Jason Contant | April 11, 2016
6 min read
The Supreme Court of Canada announced Thursday it will hear an appeal of a lawsuit in which two corporate directors were ordered to pay more than $600,000 to a former chief executive officer who brought an oppression remedy action under the Canada Business Corporations Act. In a ruling released Jan. 28, 2014, Mr. Justice Stephen […]
By Canadian Underwriter | April 10, 2016
5 min read
NEW YORK – Lawyers in New York say a settlement has been reached in a claim over a faulty General Motors ignition switch involved in a deadly accident. They say the deal negates the need for the third of six trials this year meant to help resolve hundreds of legal actions against the Detroit-based automaker. […]
By Jason Contant | April 8, 2016
2 min read
The Federal Bureau of Investigation (FBI) in the United States has issued a warning of a “dramatic” rise in “business email compromise” scams (BEC) that has resulted in massive financial losses in U.S. cities. From October 2013 until February 2016, law enforcement received reports from 17,642 victims, amounting to more than US$2.3 billion in losses, […]
By Canadian Underwriter | April 8, 2016
VANCOUVER – When the MV Marathassa leaked at least 2,700 litres of bunker fuel into Vancouver’s harbour one year ago, the effects of the spill reached far beyond the city’s picturesque waters and beaches. Delays in clean-up and notification of the city sparked public outrage, drew attention to Conservative cuts to the Canadian Coast Guard […]
4 min read
Tripwire, Inc., a Portland, Oregon-based provider of endpoint detection and response, security, compliance and IT operations solutions for enterprises, service providers and government agencies, has found that more than three-quarters of survey respondents in the energy sector in the United States reported an increase in successful cyberattacks over the past year. Tripwire released the results […]
By Canadian Underwriter | April 7, 2016
LETHBRIDGE, Alta. – A fire whipped along by a strong wind has destroyed three homes and damaged some others in southern Alberta. The blaze got rolling last evening in a west Lethbridge residence and quickly spread to two neighbouring houses. No one was hurt. Dep. fire chief Dana Terry says despite the heat and smoke, […]
By The Canadian Press | April 7, 2016
1 min read
Allied World Assurance Company Holdings, AG announced Thursday that the company’s product recall insurance products will be available in Canada and the United States as part of its Global Crisis Management Division. The product recall insurance offers both first-party and third-party coverage, notes a company statement, and “allows clients to mitigate the risk of recall […]
Risk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers and underwriters to all (re)insurers or insurance-linked securities (ILS) funds, RMS said in a statement. […]
The Insurance Bureau of Canada (IBC) is congratulating the York Regional Police (YRP) for laying charges in connection with an alleged staged collision in the Township of King, Ontario. Investigators with the YRP Major Collision Investigation Unit laid charges against Fatin Elias, 46; Jourjeet Shahara, 52; Samid Shehara, 47; and Salam Shehara, 34; all of […]
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