Industry
The London-based International Maritime Bureau (IMB) is calling for vigilance and timely response in the maritime sector, advising that shipping and the supply chain looks to be the “next playground for hackers.” “Recent events have shown that systems managing the movement of goods need to be strengthened against the threat of cyber-attacks,” notes a posting […]
By Canadian Underwriter | August 26, 2014
2 min read
Toronto City Council voted Monday to prohibit the use of electronic cigarettes at city workplaces, to change contracting rules to “support the acceleration” of the Basement Flooding Protection Program and to approve a funding adjustment in order to build a new fire station. The move to ban e-cigarettes at City of Toronto workplaces comes within […]
4 min read
DETROIT – Ford is recalling more than 160,000 vehicles in North America for two safety issues. The largest recall involves 159,395 Focus ST and Escape vehicles from the 2013 and 2014 model years. Ford says their engines could hesitate or stall because of a wiring problem. Ford also is recalling 616 Focus and C-Max cars […]
By Canadian Underwriter | August 22, 2014
1 min read
Allied World Assurance Company, Ltd. has reached definitive agreements to acquire the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc (RSA) for approximately US$215 million, Allied World Assurance Company Holdings, AG announced Thursday. The Hong Kong and Singapore businesses – which had total gross premiums written of about US$250 million in […]
3 min read
TORONTO – The World Health Organization and national governments need to step up their efforts if the West African Ebola outbreak is to be brought under control, the president of the leading aid group in the response warns. The WHO, in particular, must ratchet up its role, Dr. Joanne Liu, international president of Medecins Sans […]
By Canadian Underwriter | August 21, 2014
5 min read
PriceWaterhouseCoopers LLP is advising insurance companies to integrate advanced telephony systems with their claims systems, to “share talent” with large groups of claims adjusters and to use analytics to understand their customers’ patterns of behaviour. PwC’s financial services (FS) industry group in the United States recently released a report, titled “Claim to fame: Positioning the […]
By Canadian Underwriter | August 20, 2014
MONROVIA, Liberia – Security forces blocked off a seaside slum in Liberia’s capital Wednesday, stepping up the government’s fight to stop the spread of Ebola, unnerving residents and reportedly sparking a protest. In central Monrovia there were few cars or people about as nervous residents stayed inside after President Ellen Johnson Sirleaf ordered West Point […]
Arctic shipping routes offer the global maritime community an attractive alternative to existing trade routes – and are increasingly relevant to the oil and gas sector – but also present risks, suggests a report issued Tuesday by Marsh. “While marine insurers are largely supportive of the development of Arctic shipping routes, they are extremely wary […]
Rating agency A.M. Best Co. has revised its outlook for the reinsurance sector to negative, the firm said in a briefing issued Tuesday. Ongoing market challenges in the sector are resulting in potential negative rating pressure, although the firm isn’t expecting a significant number of negative outlooks or downgrades over the very short term, A.M. […]
By Canadian Underwriter | August 19, 2014
TORONTO – More than one-third of Canada’s IT professionals know – for sure – that they’d had a significant data breach over the previous 12 months that could put their clients or their organizations at risk, a cybersecurity study suggests. And as startling as that statistic may be, the actual number of breaches could be […]
By Canadian Underwriter | August 18, 2014
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