Industry
More companies have purchased cyber insurance policies this year and have data breach plans in place, but many executives still lack confidence that their company would handle such an event properly, according to a recent study out of the U.S., conducted by the Ponemon Institute. The study asked 567 executives in the United States about […]
By Canadian Underwriter | October 3, 2014
2 min read
Ascot and American International Group, Inc. (AIG) has announced the opening of a new Bermuda-based reinsurance platform in a move expected to help AIG deploy its existing reinsurance capacity in a more focused way. Ascot Underwriting (Bermuda) Limited (AUB) will serve as managing general agent of AIG-Ascot Re, which will begin writing assumed reinsurance business […]
1 min read
LOS ANGELES – New details on a cyberattack against JPMorgan Chase & Co.’s computer servers this summer add to increasing doubts over the security of consumer data kept by lenders, retailers and others. The New York-based bank disclosed Thursday that the breach compromised customer information pertaining to roughly 76 million households and 7 million small […]
3 min read
TORONTO – Canada is considering placing doses of an experimental Ebola vaccine in hospitals around the country that have been designated to treat Ebola cases if any arrive in the country, the new chief public health officer said Wednesday. Dr. Gregory Taylor said having vaccine at the ready means it could be used if health-care […]
By Canadian Underwriter | October 2, 2014
5 min read
Findings from a snap poll of 2,000 consumers in the United States indicates 51% of respondents would be prepared to take their business elsewhere following a data breach involving personal information, including address, social security number and credit card details, reports California-based HyTrust Inc. That percentage, however, jumps to 60.2% among consumers in the 35- […]
Employees with advanced degrees in analytics and data science are increasingly attractive to property and casualty insurers in North America, according to a new study from Strategy Meets Action. P&C insurers plan to increase the percentage of staff for big data projects with advanced degrees and training from 21% to 51% by 2016, according to […]
By Canadian Underwriter | October 1, 2014
The cost of managing and mitigating information technology security breaches is increasing with the average financial losses for large firms participating in a survey at $5.9 million in 2014, PriceWaterhouseCoopers LLP suggested in a report released Tuesday. The Global State of Information Security Survey 2015 was compiled in conjunction with CXO Media Inc.’s CIO and […]
Ontario brokerage Cornerstone Insurance Brokers Ltd. has announced the purchase of Hartwell Thayer Insurance and Financial Services Limited. Terms of the transaction, which closed Monday, were not disclosed. The Aurora, Ont.-based brokerage will complement Cornerstone’s existing locations in Woodbridge, Markham and Barrie, Cornerstone said in an announcement Monday. “We share a common vision for delivering […]
TORONTO – The revelation that a man with Ebola was diagnosed in a Texas hospital could be seen as the first case of the dreaded disease discovered in North America. Or you could see it as a spark, flying far from a raging conflagration. Disease experts in North America insist that the health systems in […]
"I like solving problems for people," Hancock says, calling it not only fun, but also rewarding, when "someone comes to you with an insurance problem and you figure it out for them and give them what they need."
By Angela Stelmakowich, Editor | September 30, 2014
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