Risk
More than one-third (36%) of global organizations still lack confidence in their ability to detect sophisticated cyberattacks, according to Ernst & Young’s (EY) annual Global Information Security Survey 2015, released last week. The survey, titled Creating trust in the digital world, included participants from 1,755 organizations in 67 countries. Chief information officers, chief information security […]
By Canadian Underwriter | November 16, 2015
2 min read
Reinforcing the direct relationship between strong risk management practices and superior operating performance for organizations, a report released Thursday by Aon Global Risk Consulting further identifies three key factors to help organizations boost risk maturity. “Our data confirms that organizations that successfully focus on improving this set of distinct risk-related factors, as well as utilize […]
By Canadian Underwriter | November 13, 2015
3 min read
New products represent the biggest growth opportunity for (re)insurers in 2016, according to a survey released on Thursday by Guy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies. For the fourth annual survey, Guy Carpenter polled 110 insurance and reinsurance executives at the 2015 […]
By Canadian Underwriter | November 6, 2015
Echelon Financial Holdings Inc. (EFH) has reported a net loss of $3.7 million for the three months ended Sept. 30, 2015 compared to net income of $5.5 million – a 167% decrease – for the same quarter in 2014. For the first nine months of 2015, EFH is still on the plus side, posting a […]
4 min read
The trend of “uberization” – or industry disruption caused by an unlikely competitor – has become a dominant concern of the C-suite, finds a new IBM study released this week. The study, titled Redefining Boundaries: Insights from the Global C-suite Study, is based on findings from more than 5,200 “CxOs”: CEOs, chief marketing officers, chief […]
By Canadian Underwriter | November 5, 2015
A recent Wells Fargo study of 100 middle market companies and large corporations in the United States has found that 85% of respondents have purchased cybersecurity and data privacy insurance coverage to protect against financial loss, while nearly half (44%) have already filed an insurance claim as a result of a breach. For almost half […]
Despite a 28 million euro onshore energy claim, a massive explosion in the Chinese port of Tianjin and a major earthquake hitting Chile, French reinsurer SCOR SE reported Wednesday its third-quarter combined ratio improved nearly a point from 2014. Paris-based SCOR released Wednesday its financial results, reporting gross written premiums, in property & casualty, of […]
By Canadian Underwriter | November 4, 2015
Arthur J. Gallagher — the international broking division of Arthur J. Gallagher & Co. (AJG) outside of the United States — announced on Tuesday that it has acquired British Columbia retail insurance broker Christie-Phoenix (Victoria) Ltd. and its affiliate Discovery Insurance Services Ltd. Terms of the transaction were not disclosed. Founded more than 40 years […]
By Canadian Underwriter | November 3, 2015
Aon plc reported Friday its risk solutions revenue dropped 8%, from $1.836 billion in the third quarter of 2014 to $1.689 billion in the three months ending Sept. 30, 2015, due in part to the unfavourable impact of foreign currency translation. London-based Aon released Friday its financial results. Total revenue dropped 5%, to $2.742 billion […]
By Canadian Underwriter | November 1, 2015
The relative calm for the (re)insurance industry cannot last forever. Catastrophes will happen and disruptive conditions persist, subjecting the market to continuing and accumulating pressure. Despite still positive returns, how long can the reinsurance industry hold out before this pressure necessitates in material change? Is the industry at, or nearing, its tipping point?
October 31, 2015
17 min read
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