Keyword
aggregation
PCS launches global cyber industry loss index
September 5, 2017 by Canadian UnderwriterProperty Claim Services (PCS) announced that it has launched PCS Global Cyber, a new loss aggregation service that provides “industry loss estimates for individual affirmative worldwide cyber events with insured losses of at least $20 million industrywide.” Developed in collaboration…
Extreme cloud attack could pack as much of a cost wallop as Hurricane Sandy
July 18, 2017 by Canadian UnderwriterA malicious hack that fells a cloud service provider for a time has the potential to produce estimated economic losses of as much as US$53 billion, in line with the hit delivered by Superstorm Sandy, suggests a new research scenario…
Silent cyber a big issue, most companies with insurance book have exposure: AIR Worldwide’s Stransky
April 25, 2017 Angela StelmakowichPHILADELPHIA – 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…
Reinsurance disputes and CBI exposures possible after North American wildfires and Louisiana floods: CMS lawyer
September 2, 2016 by Canadian UnderwriterA year of fire and floods in North America could lead to a repeat of 2007, when reinsurance disputes emerged over causation issues, a lawyer with global law firm CMS said on Friday. Alex Denslow, a partner with the Insurance…
Guy Carpenter forms strategic alliance with Symantec to develop cyber aggregation model
May 18, 2016 by Canadian UnderwriterGuy Carpenter & Company announced on Tuesday the formation of a strategic alliance with global cybersecurity company Symantec Corporation to create a cyber aggregation model. The model will include a comprehensive catalogue of cyber scenarios from which insurers can derive…
Causation, aggregation and contingent business interruption issues likely to emerge for reinsurers from Fort McMurray wildfire: CMS London lawyer
May 10, 2016 by Jason ContantThe Fort McMurray wildfire has the potential to give rise to “much more complex issues for the reinsurance market than may appear at first sight,” particularly surrounding issues of causation, aggregation and contingent business interruption (CBI), said a partner with…
The Digital Edition of Canadian Underwriter magazine’s March 2016 issue
March 30, 2016 by Canadian UnderwriterDigital Edition below ↓ Cover Story – ‘Aggregation Aggravation’ While risk managers for large manufacturers tend to be aware of the vulnerability of their supply chains to major incidents affecting business partners, the same cannot necessarily be said for risk professionals…
Disasters at ports can cause ‘major accumulated losses across multiple lines of business,’ Swiss Re warns
March 30, 2016 by Canadian UnderwriterFor the second year in a row, Canada had “few natural disasters” in 2015, while the Aug. 12 explosions arising from sodium cyanide in the Chinese port of Tianjin shows that insurers need “more risk mapping in aggregation points,” Swiss…