Risk
Companies in Canada are warming to cyber insurance – with more and more organizations expected to obtain coverage over the next few years – but they still need to ensure their exposure ducks are all in a row. “You have to consider cyber liability exposure, even if you choose not to risk transfer and purchase […]
By Canadian Underwriter | September 30, 2015
3 min read
Insurers are expected to invest heavily in modernizing and replacing core information technology systems, and chief information officers are looking for new systems that they can configure, Novarica Inc. suggested in a recent report. “The modernization or replacement of core systems continues to drive the majority of insurer budgets year after year,” Novarica stated in […]
2 min read
That Canada is facing challenges in the wake of depressed oil prices is hardly news, but there are some positives for the property and casualty industry that go along with the negatives, suggests Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty (AGCS) Americas. “While the energy sector is going through difficult times, […]
By Canadian Underwriter | September 29, 2015
4 min read
Global professional services company Towers Watson has announced the development of an application within its Igloo financial modelling suite specifically tailored for property & casualty insurers in Canada. The application is designed to help Canadian insurers “efficiently use comprehensive, full-function models to help better manage risk and capital based on International Financial Reporting Standards in […]
Toronto-based Moore-McLean Insurance Group Ltd. and Gateway Insurance Group of Halifax, N.S. announced on Tuesday the formation of a new joint venture company, Moore-McLean Gateway Insurance Group. With offices in Halifax and Toronto, Moore-McLean Gateway (MMG) will leverage the “considerable expertise and market clout of Moore-McLean with Gateway’s deep business and community relationships to target […]
Being in transit can be a risky venture when it comes to information, suggests Brian Huntley, senior information security advisor for IDT911 Consulting. “Information is especially at risk of breach when it is in transit on public networks, and when it is shared with third parties, such as vendors, service providers and resellers,” Huntley told […]
By Canadian Underwriter | September 28, 2015
Tino Brambilla is celebrating another cherished anniversary this year during RIMS Canada Conference 2015 in Quebec City – his 30th wedding anniversary. Brambilla, manager of insurance services at Manitoba Hydro and this year’s recipient of Canada’s highest risk management honour, the Donald M. Stuart Award – told those assembled for the 41st edition of the […]
The expanding interest in drones means many companies and industries considering their use will be engaged in an aviation activity for the first time, necessitating that they have a firm grasp of associated risks before moving forward, suggests a new white paper from Zurich Insurance Company Ltd. First-time engagement likely means companies will be operating […]
6 min read
ACE Group has announced the launch of its Global Cyber Facility, providing up to US$100 million of primary capacity. To meet growing demand, ACE announced the facility, “which goes beyond standard risk transfer by incorporating a comprehensive risk management solution into a single policy purchase,” the multiline property and casualty insurer said in a press […]
By Canadian Underwriter | September 25, 2015
More than 40% of 147 insurance professionals surveyed by strategic advisory firm Strategy Meets Action (SMA) say that the Internet of Things (IoT), drones, new payment technologies and wearables will transform the industry over the next three years. This week, SMA released a pair of research reports: Emerging Technologies in P&C and Emerging Technologies in […]
By Canadian Underwriter | September 23, 2015
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