Operations
Brokers placing cyber insurance should take a good look at their clients’ information security culture, a computer security expert advises. What is “often overlooked by brokers is that underwriters really care about the security culture of an organization [applying for cyber insurance],” said Pascal Millaire, CEO of CyberCube Analytics Inc., in a recent interview. Security […]
By Greg Meckbach | March 29, 2018
2 min read
Legal / Regulation
Insurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity, told Canadian Underwriter in an interview Tuesday. “What they may need to take a look […]
By David Gambrill | March 29, 2018
HR
Two new staff members join adjusting firm Claims adjusting firm Kernaghan Adjusters said Monday it has relocated its Whistler, B.C. operation and welcomed two new staff members. Michael Unger will be Sea to Sky manager and executive adjuster. He brings more than 17 years of experience in various markets, including Canada, the United States, and […]
By Jason Contant | March 28, 2018
Tech
TORONTO – Imagine the fallout if the NHL was hacked and its star players – think Sidney Crosby, Auston Matthews and Connor McDavid – had their home addresses, phone numbers and other personal information made accessible online. It’s an all-too-familiar scenario for Canadian lacrosse player Kevin Crowley, who was among the victims of a data […]
3 min read
Globally, commercial insurance customers are getting a great deal on cyber insurance right now, but this will only last until a major cyber incident causes a huge, one-time loss for the property and casualty insurance industry, a computer security expert warns. For every dollar that insurers make in premiums from cyber insurance globally, they are […]
By Greg Meckbach | March 27, 2018
In a sign of cooperation within Canada’s competitive P&C industry, some broker management system (BMS) providers are using APIs supplied by the Centre for Study of Insurance Operations (CSIO) to make eDelivery available to Canadian brokers using a variety of BMS platforms. CSIO president and CEO Catherine Smola said CSIO shared the application programming interface […]
By Jason Contant | March 27, 2018
David A. Crozier will become the president of specialist insurer Markel Canada in early 2019, succeeding current president Karen Barkley, who will retire at the end of this year. Completing a 40-year career in the insurance industry, Barkley has held positions at Zurich, AIG, CIGNA, as president of ACE INA Insurance, and as a past […]
By David Gambrill | March 27, 2018
TORONTO – The Bank of Canada’s senior deputy governor is calling for authorities to work toward a coherent set of globally aligned policies governing cryptocurrencies. Carolyn Wilkins told a University of Toronto conference on Thursday that such a strategy will need to cover risks in both cash and derivatives products, as well as the related […]
By The Canadian Press | March 27, 2018
Broker management system (BMS) provider Applied Systems announced Monday that it has expanded its partnership with the Centre for Study of Insurance Operations (CSIO) to integrate CSIO’s My Proof of Insurance eDelivery solution with Applied Epic and Applied TAM in future product solutions. Launched late last month, My Proof of Insurance enables CSIO members to […]
By Jason Contant | March 26, 2018
One-third of Canadian businesses have unwittingly leaked sensitive information to cybercriminals, highlighting the opportunity for education from the property and casualty (P&C) insurance community. According to the 2018 Canadian Internet Security Survey, released on March 22 by the Canadian Internet Registration Authority (CIRA), 32% of business respondents had “unwittingly divulged sensitive information due to phishing […]
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