Tech
Cyber insurers need to get a firmer handle on cyber claims response to be able to add value to their policies, a specialist insurer said recently. James Burns, cyber product leader with London, U.K.-based CFC Underwriting, said that the industry has seen lots of innovation in the area of wordings and what the actual coverage […]
By Jason Contant | January 23, 2020
3 min read
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Victoria Lemieux, Associate Professor, Archival Science and Founder & Co-Lead of Blockchain@UBC, University of British Columbia Just before the new year, approximately 15 million Canadians […]
5 min read
Brokers looking for a relatively cheap way of upping their game online should check some of the hundreds of insurtechs on the market, but it’s important to know what those insurtechs do and do not provide. If you are a broker shopping for technology offered by insurtechs, you have something on the order of 1,000 […]
By Greg Meckbach | January 22, 2020
2 min read
Operations
The threat of a cyber incident was a distant concern for companies around the world just seven years ago. It ranked 15th back then on a list of major business concerns, according to the annual Allianz Risk Barometer report. Today, it tops the list. Why? The growth of digital dependence has exploded, with high-profile incidents […]
By Adam Malik | January 21, 2020
Silent cyber has long been a thorn in the side of some insurers, and it doesn’t look like the issue will be resolved any time soon. Part of the issue is that the cyber market doesn’t exist to cater to traditional assets being compromised by new technologies, said James Burns, cyber product leader with CFC […]
By Jason Contant | January 20, 2020
LONDON – Google’s chief executive called Monday for a balanced approach to regulating artificial intelligence, telling a European audience that the technology brings benefits but also “negative consequences.” Sundar Pichai’s comments come as lawmakers and governments seriously consider putting limits on how artificial intelligence is used. “There is no question in my mind that artificial […]
Technology could make it easier to start up new managing general agents – which is good news for some and bad news for others, panelists suggested during a recent webinar. “If you [as an MGA] are sitting there thinking, ‘Oh I do this through my 30 years of expertise and the relationships I have built […]
By Greg Meckbach | January 17, 2020
HR
It’s no secret that there is a war for talent in Canada’s property and casualty insurance industry. But before you look outside your brokerage or insurance company for talent, take a look inside, advises Tomas Chamorro-Premuzic, the chief talent scientist at workforce solutions company ManpowerGroup and Jonathan Kirschner, a business psychologist and founder and CEO […]
By Jason Contant | January 17, 2020
Western Canadian independent insurance brokerage CapriCMW Insurance Services Ltd. announced Monday it has expanded into Yukon with the acquisition of an office from Aon Reed Stenhouse Inc. The longstanding Aon office at 201-9016 Quartz Road in Whitehorse will begin operating as CapriCMW, effective March 2, CapriCMW said in a press release. It is CapriCMW’s 15th […]
By Jason Contant | January 14, 2020
Will cyber insurance products ever become completely standardized? While aspects of cyber insurance, such as language around data breach, have become more standardized, there is still an overall lack of standardization across the line. Canadian Underwriter has also heard suggestions that brokers want standardization, but insurers don’t. So how do brokers approach a sale with […]
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