Risk
There has been “little interpretation,” by Canadian courts, of the London Engineering Group (LEG)’s exclusion clauses for construction insurance, though a recent decision emphasized what was considered “defective workmanship,” a construction lawyer suggested at the recent 42nd Annual Engineering Insurance Conference (AEIC). Dan Boan, a partner with the construction and public-private infrastructure projects sector group […]
By Canadian Underwriter | October 13, 2015
5 min read
Researchers from Florida International University (FIU) in Miami have teamed up with four other universities and a utility company in an attempt to help safeguard power utilities in the United States from cyberattacks. Researchers from FIU’s College of Engineering and Computing have joined with faculty from Carnegie Mellon University in Pittsburgh, Lehigh University in Bethlehem, […]
2 min read
Insurers in the United States will face competing priorities for resources and time over the next 12 months, with cyber security preparedness challenging overall regulatory compliance readiness, argues Wolters Kluwer Financial Services. While both cyber security and regulatory readiness will be major concerns over the coming year, notes the latest Regulatory & Risk Management Indicator […]
3 min read
Emerging economies – with Syria, Venezuela and Zimbabwe topping the risk list – are expected to experience a difficult stress test in the year ahead, although a repeat of the emerging markets crises of the late-1990s is unlikely, notes a new risk index issued Tuesday by Willis Group Holdings. The difficult stress test is very […]
An estimated 3,000 litres of fuel spilled near the community of Salluit in northern Quebec, the Canadian Coast Guard (CCG) confirmed on Thursday. Greg Lick, director general of CCG operations, said in a statement that the Coast Guard was notified late Tuesday of the spill west of Ungava Bay. The M/T Sarah Desgagnés was transferring […]
By Canadian Underwriter | October 9, 2015
The average cost of a cyberattack is more than half a million United States dollars for enterprises, according to a survey from Kaspersky Lab released on Wednesday. The Damage control: The cost of security breaches report, from Kaspersky Lab and B2B International, found that the average cost of a cyberattack was US$551,000 for enterprises and […]
By Canadian Underwriter | October 8, 2015
The risk of a serious cyberattack on global civil nuclear infrastructure is growing, as facilities become ever more reliant on digital systems and make increasing use of commercial ‘off-the-shelf’ software, according to a new report from Chatham House, a London, United Kingdom-based independent policy institute. The report, released on Monday, found that “the infrequency of […]
By Canadian Underwriter | October 5, 2015
Saskatchewan Government Insurance (SGI) and police around the province will be watching for drivers using cellphones as well as other actions such as taking their attention off the road while eating, grooming, setting a GPS or refereeing children during the traffic safety spotlight for October, the province’s self-sustaining auto insurance fund said last week. Statistics […]
NICC MONTREAL – In order to make overland flood insurance work in Canada, government must be involved – in some way – in pre-planning, but Canada cannot necessarily copy from any other nation’s flood program, Insurance Bureau of Canada’s chief executive officer suggested last week. “Some insurers began offering their own flood insurance products this […]
By Canadian Underwriter | October 4, 2015
While large-profile cyber breaches tend to dominate the news headlines, sometimes it’s the smaller ones that are being overlooked, panellists suggested on Thursday at the National Insurance Conference of Canada in Montreal. Although people tend to look at the large, high profile breaches, “smaller companies are actually having incidents,” said Phil Baker, president of Creechurch […]
By Canadian Underwriter | October 2, 2015
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