Risk
Ford Motor Co. will not be using air bag inflators made by Takata Corp. in future vehicles, another blow to the troubled Japanese parts supplier as the auto industry continues to shun its product. Ford joins Honda, Toyota and Nissan is deciding against putting the inflators in cars, trucks and SUVs now under development. Takata […]
By Canadian Underwriter | November 23, 2015
2 min read
A new digital survey from London, United Kingdom-based Xchanging plc, a business technology and services provider, has found that only one-third of insurers in the London market believe their firm could withstand a major cyberattack. The survey, conducted at the Xchanging London Market Conference earlier this month, gathered the views of 70 delegates on the […]
Fosun International Limited has completed its acquisition of the remaining 80% equity interest in Bermuda-based Ironshore Inc., which will become an indirect wholly owned subsidiary of the company. Approvals have been received from all relevant regulatory authorities in the United States, the United Kingdom and other jurisdictions for the acquisition of the remaining 80% ownership […]
3 min read
WASHINGTON – An aviation industry task force is recommending that operators be required to register drones weighing as little as a half a pound, a threshold that could include some remote-controlled toys, industry officials said. Federal Aviation Administration officials who convened the 25-member task force on drone registration have said they want to avoid requiring […]
By Canadian Underwriter | November 20, 2015
More than 50 insurers globally are now offering standalone cyber coverage, in addition to other carriers that provide cyber-related endorsements to commercial general liability or multi-peril policies, according to a report released on Thursday by Moody’s Investors Service, Inc. Along with these cyber policies, a number of insurers are offering valuable loss avoidance and risk […]
Canada has received an overall ranking of 77% – “C+” – for its cybersecurity readiness, according to a new report from Tenable Network Security, a continuous network monitoring company based in Columbia, Md. For its 2016 Global Cybersecurity Assurance Report Card, released earlier this week, Tenable surveyed 504 global IT security professionals employed by organizations […]
Toy drones pose a “significant threat” to manned rotorcraft in all phases of flight, according to a new study from Aero Kinetics, an aerospace and defence firm based in Fort Worth, Texas. Released on Thursday, the study, called The Real Consequences of Flying Toy Drones in the National Airspace System, concluded that toy drones pose […]
By Canadian Underwriter | November 19, 2015
DETROIT – Cars and trucks from the 2008 model year or older that were originally sold or registered in high humidity areas along the U.S. Gulf Coast are getting top priority for repairs as the government commences the massive Takata air bag inflator recall. Honda Motor Co. leads all automakers with nine models designated as […]
By Canadian Underwriter | November 18, 2015
CNA Financial Corporation announced on Monday the appointment of Dino E. Robusto as its chairman and chief executive officer effective “on or about Dec. 1, 2016.” Robusto will succeed Thomas F. Motamed, who has decided to retire at the end of 2016, and who has served in that role since 2009. Motamed will continue as […]
By Canadian Underwriter | November 17, 2015
Visions of sugar-plums – not thoughts of how best to protect property – seem to be dancing in the heads of more than a third of polled homeowners in the United States as the festive season approaches, suggests a new survey from Allstate. Released Tuesday, the third annual Allstate Holiday Home Hazards poll reveals a […]
4 min read
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