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Canada’s fintech adoption rate doubles in last 18 months: EY report

July 25, 2017 by Angela Stelmakowich

Customer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by

News CatastrophesCommercial LinesInsuranceMarkets / Coverages

Possible melted fuel seen for first time at Fukushima plant

July 24, 2017 Mari Yamaguchi - THE ASSOCIATED PRESS

TOKYO – An underwater robot captured images of solidified lava-like rocks Friday inside a damaged reactor at Japan’s crippled Fukushima nuclear plant, spotting for the first time what is believed to be nuclear fuel that melted six years ago. Plant

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Worldwide IT spending set to rebound in second half 2017, led by cloud and mobile upgrade cycles: report

July 14, 2017 by Canadian Underwriter

Worldwide IT spending is expected to rebound in the second half of the year, led by cloud and mobile upgrade cycles, International Data Corporation (IDC) said in a new report. According to the latest edition of IDC’s Worldwide Black Book,

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Takata adds new type of inflator to huge air bag recall

July 12, 2017 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – Takata is adding a new type of air bag inflator to the nation’s largest automotive recall. The company filed documents with the U.S. government adding 2.7 million vehicles to the recall from Ford, Nissan and Mazda, all with

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Cat bonds with coverage for Canada in the first half of 2017 totalled $2.7 billion: PCS

July 5, 2017 by Canadian Underwriter

Sponsors completed six catastrophe bonds with coverage for Canada in the first half of 2017, raising $2.7 billion through transactions that included Canada, Property Claim Services (PCS) said in its PCS H1 2017 Catastrophe Bond Report. The first cat bond,

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New cyberattack causes mass disruption globally

June 27, 2017 by Canadian Underwriter

One month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported

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U.S. earthquakes estimated to cost US$6.1 billion annually in building stock losses

June 26, 2017 by Canadian Underwriter

Earthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the

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Canada second most expensive country for data breaches: IBM and Ponemon Institute study

June 20, 2017 by Canadian Underwriter

Canada was the second most expensive country for data breaches, costing an average of $255 per lost or stolen record in 2017, according to a new report sponsored by IBM Security and conducted by the Ponemon Institute. Released on Tuesday,

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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