Industry
Effective crisis response demands companies be prepared in advance of a security breach to better protect their brand reputations and reassure their customers, suggests Affect, a New York City-based public relations and social media firm that specializes in technology, healthcare and professional services. To properly respond to a crisis, the four phases of crisis management […]
By Canadian Underwriter | December 5, 2014
2 min read
ISO, a Verisk Analytics business, has announced the availability of two new coverage options designed to help businesses in the event that government authorities take steps to control the spread of Ebola. The first endorsement offers coverage for the loss of income a business faces when it follows orders to close during an Ebola outbreak; […]
By Canadian Underwriter | December 3, 2014
1 min read
Hub Financial Inc., a subsidiary of brokerage Hub International, has acquired the shares of MGA Partners Inc.. an Ontario-based managing general agency. Terms of the acquisition were not disclosed. “The acquisition broadens Hub’s footprint in Canada’s eastern provinces, and its reach to financial advisors and insurance brokers seeking multi-fund insurance and risk solutions while maintaining their […]
Fairfax Financial Holdings Limited, through its wholly owned subsidiary The Pacific Insurance Berhad, has entered into a business transfer agreement to acquire a Malaysian insurer. Toronto-based Fairfax Financial reports that the agreement with MCIS Insurance Berhad and Koperasi MCIS Berhad will see it acquire the general insurance business of MCIS, an established life and general […]
By Canadian Underwriter | December 2, 2014
SAN FRANCISCO – The FBI has confirmed it is investigating a recent hacking attack at Sony Pictures Entertainment, which caused major internal computer problems at the film studio last week. Sony’s corporate email and other internal systems were knocked offline, according to reports by Variety and other trade publications. Sony workers reportedly saw a message […]
The Ontario government tabled Monday a bill that, if passed into law, would make it easier for a defendant to get a defamation lawsuit dismissed if the defence could convince the judge that they were communicating on a matter of “public interest.” When the previous version of Bill 52 – which died on the order […]
3 min read
The Government of Canada, through the Canadian Space Agency (CSA), will invest $650,000 to support cutting-edge severe weather forecasting technology being developed at the National Optics Institute (INO). The contract was awarded to INO to further develop and test a new thermal imaging sensor – far infrared radiometer (FIRR) – that requires no cooling and […]
By Canadian Underwriter | December 1, 2014
With a month to go before the United States government backstop for commercial terrorism insurance expires, XL Group plc announced Monday it is offering stand-alone terrorism coverage of up to US$100 million. Dublin-based XL Group said its new terrorism insurance policy, offered by its United States crisis management business, “provides insurance coverage often limited or […]
Last week’s hacking incident involving Sony Pictures Entertainment highlights the importance of having cyber insurance that includes business interruption cover and demonstrates the negative effect of not being able to access tech systems even for a short period, suggests CFC Underwriting. The caution follows a hacking incident reported to have forced Sony Pictures Entertainment to […]
The year ahead for property and casualty insurance in Canada feels a bit like a mix of hard facts and wishful thinking. With change the only constant, is the market signalling how best to match opportunity and risk? Will the industry come up with a pleasing palette - satisfying to its customers - or do ongoing challenges threaten to produce a total mismatch?
November 30, 2014
23 min read
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