Industry
Organizations can improved information technology security by having staff respond to simulated attacks and by improving access control, Deloitte & Touche LLP suggested in a report on cyber risk. “Cyber war-gaming exercises reveal common issues that cause delays in responding as rapidly and effectively as a real crisis situation would warrant,” Deloitte stated in the […]
By Canadian Underwriter | October 7, 2014
2 min read
SGI Canada has received a licence allowing it to compete in British Columbia’s property and casualty insurance market, with plans to begin operation there in summer 2015, it announced Tuesday. “B.C. is a province with strong growth potential and, with SGI Canada’s experience writing insurance for the mining and oil and gas industries, moving further […]
1 min read
Net income among private property and casualty insurers in the United States rose $1.6 billion in the first half of the year, compared with the first six months of 2013, ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America reported Monday. After-tax net income climbed from $24.4 billion in the first […]
By Canadian Underwriter | October 6, 2014
WINNIPEG – Manitoba Public Insurance says its former CEO has returned money she received from a “transitional contract” she signed earlier this year. The Crown agency says on its website that Marilyn McLaren has ended the contract and returned $27,300. McLaren retired last February from MPI and received a six-figure severance package. But she was […]
By The Canadian Press | October 6, 2014
Commercial insurance prices increased 3% during the second quarter of this year across all lines, according to a new survey from Towers Watson. The firm’s Commercial Lines Insurance Pricing survey is based on data from seven Canadian insurers and groups, which represent approximately 20% of the Canadian commercial insurance market. Among those participants, the largest price […]
By Canadian Underwriter | October 3, 2014
More companies have purchased cyber insurance policies this year and have data breach plans in place, but many executives still lack confidence that their company would handle such an event properly, according to a recent study out of the U.S., conducted by the Ponemon Institute. The study asked 567 executives in the United States about […]
Ascot and American International Group, Inc. (AIG) has announced the opening of a new Bermuda-based reinsurance platform in a move expected to help AIG deploy its existing reinsurance capacity in a more focused way. Ascot Underwriting (Bermuda) Limited (AUB) will serve as managing general agent of AIG-Ascot Re, which will begin writing assumed reinsurance business […]
LOS ANGELES – New details on a cyberattack against JPMorgan Chase & Co.’s computer servers this summer add to increasing doubts over the security of consumer data kept by lenders, retailers and others. The New York-based bank disclosed Thursday that the breach compromised customer information pertaining to roughly 76 million households and 7 million small […]
3 min read
TORONTO – Canada is considering placing doses of an experimental Ebola vaccine in hospitals around the country that have been designated to treat Ebola cases if any arrive in the country, the new chief public health officer said Wednesday. Dr. Gregory Taylor said having vaccine at the ready means it could be used if health-care […]
By Canadian Underwriter | October 2, 2014
5 min read
Findings from a snap poll of 2,000 consumers in the United States indicates 51% of respondents would be prepared to take their business elsewhere following a data breach involving personal information, including address, social security number and credit card details, reports California-based HyTrust Inc. That percentage, however, jumps to 60.2% among consumers in the 35- […]
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