Legal / Regulation
A day many British Columbia policyholders have been calling for finally appears to be on the horizon. But it may force some brokers to change how they do business. While hosting an AMA (ask me anything) session on popular social media platform Reddit, B.C. Attorney General and Minister for the Insurance Corporation of British Columbia […]
By Adam Malik | May 8, 2019
2 min read
Tech
While cloud computing can introduce a whole new level of cyber risk, it can also help bolster a client’s information security, the cyber risk manager for one of Canada’s largest retailers suggests. “I will say without any hesitation, as I have been saying for over five years, the potential for security in a cloud architecture […]
By Greg Meckbach | May 3, 2019
3 min read
Connecting consumers with brokers and insurers through voice technology has already begun, but a new blog from Harvard Business Review is warning companies that their reputation could be at risk. The blog was written for general business audiences, but included an insurance example. It warned that if a company prematurely introduces smart speakers for more […]
By Jason Contant | May 2, 2019
It’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in AIR’s Research and Modeling group, said during an episode of A.M. Best TV published Tuesday. […]
By Greg Meckbach | May 1, 2019
TORONTO – Canada’s biggest banks marked the official launch of the Verified.Me digital identity network on Wednesday, following years of development and testing with their partner SecureKey Technologies Inc. The banks see Verified.Me as the beginning of a more secure Canadian identity ecosystem for a world where technology is making it easier for criminals to […]
What’s one easy piece of advice you can provide to your clients to help protect them from cyber-attacks? Change your passwords. Nearly one-third (30%) of people in Canada and the United States use the same passwords for all or most of their online accounts, potentially leaving them more vulnerable to cyber attacks. That was one […]
By Jason Contant | April 30, 2019
Cyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two years to identify key risks and challenges their organizations are facing. Cyber attacks/data breach topped […]
By Jason Contant | April 29, 2019
A priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their degree in social justice,” said Rob Labbé, director of information security for Vancouver-based mining firm […]
By Greg Meckbach | April 29, 2019
Artificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that builds a layer in between systems of engagement and systems of record. Systems of engagement […]
By Jason Contant | April 26, 2019
Insurance risk categories in the future will become so small they will become very difficult to price properly, a speaker predicted earlier this month at the CIP Society Symposium in Toronto. The number of distinct risk transfer categories appears to be trending upwards exponentially, said Alex Daskalov, co-founder of Montreal-based KNØX, a company creating an […]
By Jason Contant | April 25, 2019
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