Industry
RIMS issued a new executive report Monday, Transitioning to Enterprise Risk Management, that details how building an ERM capability and culture can directly correlate to stronger financial results and even greater potential for organizational success. Released Monday at the RIMS 2014 Annual Conference & Exhibition, being held Apr. 27-30 in Denver, the report penned by […]
By Canadian Underwriter | April 28, 2014
2 min read
DENVER, Colo. – About 100 risk and insurance professionals from around the world gathered Sunday for the 13th Annual RIMS Community Service Day, an event that allows attendees of RIMS 2014 Annual Conference & Exhibition, being held April 27-30 in Denver, to give back to the local community. Sponsored by Zurich, participants worked with Savio House, […]
3 min read
Aon plc has reported net income attributable to shareholders of $325 million for the first three months of the year, up from $261 million in the first quarter of 2013. Total revenue for the company increased by 1% to $2.9 billion during the first quarter (over Q1 in 2013). “Our first quarter results reflect a […]
By Canadian Underwriter | April 25, 2014
The Co-operators General Insurance Company released Thursday its financial results for the three months ending March 31, reporting an underwriting loss of $33 million, a 19.6% increase in net earned premiums from Quebec, a 14.7% increase in commercial premiums and an 81% year-over-year drop in net income. The Guelph, Ont.-based carrier also warned Thursday that […]
A poor experience, not just premium increases, is a top reason for policyholders to search for a new auto insurer, according to a new U.S. study from J.D. Power. According to its 2014 study, which looks at customer experience based on price, distribution channel and policy offerings, 30% of auto customers shopped for a new […]
By Canadian Underwriter | April 24, 2014
Cyber-risk management professionals must look beyond their internal information technology safeguards to interconnected risks that could build up and create a global shock on a similar scale to the 2008 financial crisis, cautions recently published research from Zurich Insurance Group. The reliance on information technology has created a complex web of interconnected risks, notes a […]
4 min read
The Office of the Superintendent of Financial Institutions’ (OSFI) Own Risk and Solvency Assessment (ORSA) guideline will demand a new level of focus by insurers to adequately assess their risk profile, but could put upward pressure on the levels of capital to hold, Karen Gavan, president and CEO of Economical Insurance, suggested during a luncheon […]
By Canadian Underwriter | April 23, 2014
MOUNTAIN VIEW, Calif. – Trips down memory lane are now available on Google’s digital maps. The new twist on time travel is debuting Wednesday as part of the “Street View” feature in Google’s maps, a navigational tool that attracts more than 1 billion visitors each month. Street View snapshots will now include an option to […]
The Centre for Study of Insurance Operations held its annual general meeting Tuesday, acclaiming eight members of the board of directors, touting its eDocs certification program and presenting awards to 12 members who have passed eDocs certification. Eight board members were appointed by acclamation for two-year terms: CSIO vice-chairman Ted Harman, president of Accent Insurance […]
NEW YORK – While Target’s massive data breach last year caused consumers to panic and drew attention to Internet crime, a new study finds that breaches on retailer payment systems are less common than other kinds of attacks. More than twice as many of last year’s Internet data breaches resulted from various small online acts, […]
By Canadian Underwriter | April 22, 2014
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