Industry
Marsh and FireEye, Inc. have teamed up to offer a new service to help Marsh clients better understand their cyber risk profiles as a result of improved evaluation of their organization’s ability to detect and respond to such attacks. The availability of Marsh Cyber OASIS (Objective Assessment Scorecard of Information Security) was announced Monday, notes […]
By Canadian Underwriter | May 19, 2015
2 min read
Canadian property and casualty insurance organizations should bolster the defences of their organizations and those of their clients against cyber threats by developing a culture of cyber security, recommends a new research report issued Tuesday by the Insurance Institute of Canada (IIC). “Insurance organizations are encouraged to build a corporate culture of cyber security that […]
8 min read
As some insurers struggle to maintain profitability with interest rates at a historic low, central banks in Canada and the United States will start to raise those rates over the next 18 months, but Canadians are “well insulated” against a surprise increase in interest rates, the Bank of Montreal’s chief economist suggested in a presentation […]
By Canadian Underwriter | May 15, 2015
4 min read
PHILADELPHIA – As federal investigators try to find out why an Amtrak train that crashed in Philadelphia sped up in the last minute before it derailed, the railroad’s top official said it takes full responsibility for the deadly wreck. Joseph Boardman, Amtrak president and CEO, said in a letter on Amtrak’s official blog Thursday that […]
A national survey of Canadians who drive in urban and rural communities has found that most respondents (93%) feel that other motorists drive while they are distracted, but only 56% believe that they themselves are a distracted driver. “This is a striking difference from how drivers view their own abilities behind the wheel compared to […]
Stratford, Ont.-based broker Rick Orr was recognized Thursday for his “tremendous vision and tireless efforts” in promoting the eDocs information technology standard as his term on the board of directors of the Centre for the Study for Insurance Operations (CSIO) came to an end. Orr “worked tirelessly with the industry to make sure that the […]
By Canadian Underwriter | May 14, 2015
3 min read
PartnerRe Ltd., a commercial insurer and reinsurer which previously agreed to merge with competitor Axis Capital Holdings Ltd., announced this week it “will review” a revised $6.8-billion takeover offer from EXOR S.p.A., an Italian investment firm with a 9.32% stake in PartnerRe. Neither the proposed merger with Axis Capital, nor the takeover offer from EXOR, […]
Regulation and capital standards were seen as the biggest risk challenges facing the insurance industry, according to an Ernst & Young LLP (EY) study of senior risk executives from 20 North American insurance companies. A focus on value creation and regulatory oversight, EY’s fifth annual survey of North American chief risk officers (CROs) and other […]
Moore-McLean Insurance Group Ltd. and Pace Motorsport have teamed up to create what is being called the first standalone coverage to protect sports car enthusiasts from exposure to insurance risk when participating in sanctioned track day events in Canada and the United States. The Track Day Insurance Canada package can be purchased online without any […]
In fewer than five years, the use of drones, also known as unmanned aerial vehicles (UAV), could become common practice for almost 40% of businesses, suggests a study released on Wednesday by Munich Re. The survey asked respondents when they think drone use will become common practice for businesses (>60% of U.S. companies using drones): […]
By Canadian Underwriter | May 13, 2015
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