Industry
The “convergence” of information technology and “operational” technology can increase cyber risk for mining and metals firms, while new financial reporting requirements increase the risk of resource nationalism, EY warned in a report announced Tuesday. “Being a victim of any form of cyber-attack can cost a company millions of dollars in lost production, threaten worker […]
By Canadian Underwriter | July 7, 2015
2 min read
Paul Taylor has taken on duties as president and of Western Financial Group, effective July 6. As part of his new role, Taylor will oversee Western Financial’s network of insurance brokerages, as well as lead all company business units, including Western Financial Group Insurance Solutions, Western Financial Insurance Company (Petsecure) and Western Life Assurance Company, […]
Winnipeg police investigating the bombing of a law firm say if there are any more suspicious packages in the mail they will likely be found in the next day or so. So far three bombs have been found and police were investigating reports of a suspicious package discovered at a Canada Post depot in the […]
By The Canadian Press | July 6, 2015
The insurance industry can gain the most useful risk management insights from catastrophe models by collaborating to innovate, suggests Aon Benfield. Working with third parties can bring new opportunities, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, suggests in a statement Monday announcing the availability of the ELEMENTS 9.5 platform, Impact […]
By Canadian Underwriter | July 6, 2015
Desjardins General Insurance Group Inc. announced Monday its mobile app for usage-based auto insurance is now available on the Apple Inc.’s recently-launched computerized wristwatch. Levis, Quebec-based DGIG announced in May the availability of an Ajusto app for devices running Apple Inc. iOS and Google Inc.’s Android operating systems. Now the Ajusto app is available on […]
Reinsurance capital inched up 1% to US$580 billion for the first quarter of 2015 compared with the end of 2014, in part aided by continued light catastrophe activity, notes a new report from Aon Benfield. “There were positive and negative factors behind the overall increase through the quarter,” states Reinsurance Market Outlook June and July […]
By Canadian Underwriter | July 3, 2015
3 min read
Moody’s Investors Service has affirmed the A3 senior debt rating of ACE INA Holdings Inc. with a stable outlook following the announcement that ACE has agreed to acquire all outstanding shares of The Chubb Corporation for approximately US$28.3 billion. ACE INA’s debt is unconditionally guaranteed by the group’s parent company, ACE Limited, notes a statement […]
4 min read
Insurers and brokers in the United Kingdom are facing an explosion in external data sources and are challenged to act quickly, suggest new survey results released jointly by Verisk Insurance Solutions and Earnix. The survey of carriers and brokers in the U.K. – U.K. Modeling Data Acquisition and Usage Trends Survey – points to anticipated […]
By Canadian Underwriter | July 2, 2015
State Farm in the United States has joined forces with security company Canary to receive exclusive offers on the latter company’s products and may qualify for homeowner and renter insurance discounts. State Farm announced Wednesday that it “is expanding its footprint in the home monitoring space by joining forces with Canary, an all-in-one security solution.” […]
1 min read
Saskatchewan Government Insurance announced Thursday it is now offering commercial insurance in British Columbia. SGI operates Saskatchewan’s compulsory Auto Fund and already writes property & casualty insurance in Saskatchewan, Alberta and Manitoba under the trade name SGI Canada. In B.C., SGI Canada now “has commercial products designed to suit the insurance needs of B.C. small […]
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