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Federal government invests $2.5 million to examine Canadian start-ups

April 28, 2017 by Canadian Underwriter

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced a “non-repayable contribution” of up to $2.5 million to Wilfrid Laurier University in Waterloo, Ont. to support a national “scale-up data platform.” The platform will “capture and track

News Earnings / RatingsInsuranceMarkets / Coverages

Kingsway reports net loss of US$1.7 million in first quarter of 2017

April 26, 2017 by Canadian Underwriter

Toronto-based Kingsway Financial Services Inc. released its financial results for the first quarter of the year on Wednesday, reporting a net loss attributable to common shareholders of US$1.7 million compared to such a net loss of US$1.5 million in Q1

News Commercial LinesInsuranceMarkets / CoveragesProfessional Development

Confusion, frustration common to BI claims can be lessened: RIMS survey

April 26, 2017 Angela Stelmakowich

PHILADELPHIA – Quantifying business interruption losses continues to be a big challenge, reported by almost six in 10 RIMS members taking part in a recent survey, but a well-conceived approach by risk managers can help to clear any hurdles. “By

News CatastrophesInsuranceMarkets / CoveragesReinsurance

ILS market growth continues in first quarter of 2017, record year possible: Willis Towers Watson Securities

April 26, 2017 by Canadian Underwriter

Non-life insurance-linked securities (ILS) capital grew again in the first quarter of 2017, continuing the trend from last year, the securities division of Willis Towers Watson (WTW) has reported. Willis Towers Watson Securities, the investment banking business of WTW, released

News InsuranceMarkets / CoveragesTechnology

Known, hidden risks in supply chains demand an overall strategy for evaluating and mitigating risk: QBE

April 26, 2017 Angela Stelmakowich

PHILADELPHIA – The multitude and variety of risks are becoming more predictable, indicating multinational and domestic companies can benefit from taking a look at how global interdependence affects each link of their supply chain, says Jamie Luce, senior vice president,

News InsuranceMarkets / CoveragesProfessional Development

Workplaces should consider the value of staff reporting, observation in combating potential terrorism, violence

April 25, 2017 Angela Stelmakowich

PHILADELPHIA – The value of staff monitoring and reporting to identify behaviours that may seem linked to the risk of terrorism and workplace violence should not be underestimated, Harry Rhulen, chief executive officer of Firestorm, suggested Tuesday during an educational

News InsuranceMarkets / CoveragesTechnology

New phishing scams aimed at accessing direct deposit funds emerging: Beazley

April 25, 2017 by Canadian Underwriter

Phishing scams aimed at accessing direct deposit funds have emerged as a new danger in 2017, specialist insurer Beazley said on Tuesday. Phishing scams aimed at accessing specific employee tax information were a continuing threat, representing 9% of all breaches

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

72% of employees willing to share sensitive, confidential or regulated company info: survey

April 25, 2017 by Canadian Underwriter

Nearly three in four (72% of) employees across eight countries, including Canada, are willing to share sensitive, confidential or regulated company information, according to a recent survey from computer technology company Dell. Late last week, Dell released the results of

News InsuranceMarkets / CoveragesTechnology

Silent cyber a big issue, most companies with insurance book have exposure: AIR Worldwide’s Stransky

April 25, 2017 Angela Stelmakowich

PHILADELPHIA – Silence is decidedly not golden when it comes to cyber risk, Scott Stransky, assistant vice president and principal scientist for AIR Worldwide, suggested to Canadian Underwriter in advance of the RIMS 2017 Annual Conference & Exhibition. Silent cyber

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Global organizations spending almost four times more budget on property-related risks than cyber risks: Aon/Ponemon report

April 25, 2017 by Canadian Underwriter

Global organizations are spending nearly four times more budget on property-related risks than cyber risks, according to a report released on Tuesday by the Ponemon Institute and sponsored by Aon plc. The 2017 Cyber Risk Transfer Comparison Global Report also

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

42% of global CEOs have begun digital business transformation: Gartner

April 25, 2017 by Canadian Underwriter

More than four in 10 CEOs around the globe have begun the process of digital business transformation, according to a new study from Gartner, Inc., an information technology research and advisory company based in Stamford, Conn. Mark Raskino, vice president

News InsuranceMarkets / CoveragesTechnology

Risk professionals should move to fill the understanding gap around disruptive technologies

April 24, 2017 Angela Stelmakowich

PHILADELPHIA – Risk managers will need to take the lead in organizational efforts to address complex challenges and opportunities in an environment that increasingly features rapidly advancing disruptive technology risks, suggests a joint report from broker and risk advisor Marsh