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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

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Global uptick in CEOs forced out of office for ethical lapses, Canada among lowest incidence of dismissals: Strategy&

May 17, 2017 by Canadian Underwriter

An analysis of CEO successions at the world’s largest 2,500 public companies over the past 10 years shows a marked increase in forced turnovers for ethical lapses, although Canada is among the countries with the lowest incidence of such dismissals.

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WannaCry ransomware attack “arguably the first ever cyber-catastrophe”: RMS cyber expert

May 16, 2017 by Canadian Underwriter

The global WannaCry ransomware attack is “arguably the first ever cyber-catastrophe,” an expert in cyber risk management from RMS said on Tuesday. Tom Harvey said in a statement that the cyberattack “clearly demonstrates the systemic nature of the risk, with

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Ransomware ‘WannaCry’ spreads to thousands more computers at start of workweek

May 15, 2017 Yuri Kageyama and Louise Watt - THE ASSOCIATED PRESS

TOKYO – The worldwide “ransomware” cyberattack spread to thousands of more computers on Monday as people logged in at work, disrupting business, schools, hospitals and daily life, though no new large-scale breakdowns were reported. In Britain, whose health service was

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“Noticeable decline” in distributed denial of service attacks in Q1 2017: Kaspersky

May 15, 2017 by Canadian Underwriter

Russian cybersecurity company Kaspersky Lab has found a “noticeable decline” in the number of overall distributed denial of service (DDoS) attacks and a change to how they were dispersed by country. Kaspersky released late last week its Q1 2017 DDoS

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Munich Re’s operating result up to 952 million euros in Q1 2017 from 726 million euros in Q1 2016

May 9, 2017 by Canadian Underwriter

Munich Re has reported an increased operating result for the first quarter of 2017, from 726 million euros in Q1 2016 to 952 million euros in the most recent quarter. The reinsurance field of business contributed 466 million euros to

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Global demand for new vehicles to increase 1% to 2% in 2017: Fitch

May 4, 2017 by Canadian Underwriter

Global demand for new vehicles will increase 1% to 2% in 2017, according to Fitch Ratings’ latest U.S. Automotive Handbook, published on Wednesday. The handbook noted that growth in China, Europe and Brazil will more than offset demand declines in

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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

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Global insurance industry to see “slightly increased” growth by 2018, P&C premium volume to grow by 4% on average: Munich Re

April 20, 2017 by Canadian Underwriter

The global insurance industry is likely to see slightly increased growth by 2018, Munich Re reported on Thursday. Munich Re said in a press release that better economic prospects in the United States and in many emerging markets will offset

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Sponsors completed one cat bond of about $600 million with coverage for Canada in Q1: PCS

April 12, 2017 by Canadian Underwriter

Sponsors completed one catastrophe bond with coverage for Canada in the first quarter of 2017 (Galilei Re), according to Property Claim Services’ (PCS) first-quarter cat bond report released on Wednesday. As it was a large transaction, capital raised by cat

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Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

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More action needed to better prepare for earthquake in Canada: Scotti

April 6, 2017 by Angela Stelmakowich

Canada would be well-advised to take a cue from other nations and do more to establish partnerships and requirements that better protect property owners in the event of an earthquake, says Veronica Scotti, president and CEO of Swiss Re Canada.