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Canadian companies lag in cybersecurity investments, survey finds

May 23, 2017 by Canadian Underwriter

More than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that

News Commercial LinesInsuranceMarkets / Coverages

Ontario government ‘taking lessons learned’ from Fukushima nuclear disaster: Lalonde

May 23, 2017 by Canadian Underwriter

Ontario’s community safety and correctional services minister is calling on “everyone interested” to comment on proposed changes to the Provincial Nuclear Emergency Response Plan. The province is home to the world’s largest nuclear operating facility, Bruce Power reports on its

News Commercial LinesInsuranceMarkets / Coverages

DDoS attacks grew shorter, more complex and persistent in Q1 2017, new report suggests

May 23, 2017 by Canadian Underwriter

Distributed denial of service (DDoS) attacks in the first quarter of 2017 were growing shorter, more complex and persistent, according to a new report released on Monday. Redwood Shores, Calif.-based Imperva released on Monday its 2017 Q1 Global DDoS Threat

News CatastrophesInsurancePersonal Lines

PERILS discloses second loss estimate of 249 million euros for windstorm Thomas

May 23, 2017 by Canadian Underwriter

PERILS AG has disclosed a second loss estimate for windstorm Thomas of 249 million euros, up from its initial loss estimate of 213 million euros on April 6. Windstorm Thomas, also known as Doris, affected the British Isles, Netherlands, Belgium

News Commercial LinesInsuranceMergers and AcquisitionsReinsurance

Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing

May 23, 2017 by Canadian Underwriter

Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,

News CatastrophesClimate ChangeEarnings / RatingsInsuranceTechnology

Resource risk top concern for wind energy sector: GCube Underwriting

May 23, 2017 by Canadian Underwriter

Resource risk has surpassed mechanical and electrical breakdown to become the number one potential source of financial losses for onshore wind energy developers, owners and operators globally, suggests a new report from GCube Underwriting Ltd. Despite continued development and improvement

News CatastrophesInsurancePersonal Lines

Tornadoes suspected in violent N.B. storm: ‘It came without any notice’

May 19, 2017 The Canadian Press

SHIPPAGAN, N.B. – Authorities suspect a violent storm that hit New Brunswick suddenly late Thursday, ripping roofs apart and pulling down utility poles, may have been powered by tornadoes. “They were expecting some thundershowers, but nothing of that magnitude so

News InsuranceLegalPersonal Lines

IBC, Edmonton Police Service and RCMP join forces on campaign about rising auto theft rates in Edmonton

May 19, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC), Edmonton Police Service (EPS) and the RCMP are partnering to launch an educational campaign on rising auto theft rates in Edmonton. The campaign, titled Lock Out Auto Theft, consists of a website, social media

News Commercial LinesInsuranceMarkets / CoveragesTechnology

“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers

May 19, 2017 by Canadian Underwriter

There is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to

News InsuranceMarkets / Coverages

Nuclear energy producers, alcohol manufacturers excluded from new AIG mutual fund

May 19, 2017 by Canadian Underwriter

Investors wanting to keep their money out of nuclear energy, the arms industry or alcohol manufacturers are being targetted by American International Group Inc., which announced Thursday it is marketing a new dividend mutual fund. New York City-based AIG announced

News CatastrophesInsuranceMarkets / Coverages

Hurricanes and typhoons could be monitored from hundreds of miles away, possibly leading to better forecasts: study

May 19, 2017 by Canadian Underwriter

Hurricanes and typhoons could be monitored from hundreds of miles away with relatively inexpensive instruments like barometers and anemometers, much like earthquakes are monitored by seismometers, a new study has found. The study, titled Spiral Gravity Waves Radiating from Tropical

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Save the date! Thursday June 1 — The ARC Group Canada presents: 2017 Annual Seminar & Cocktail Event

May 19, 2017 by The ARC Group Canada | Le Groupe ARC Canada