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35% of top global insurers have appointed a chief digital officer to oversee business transformation: PwC’s Strategy&

June 26, 2017 by Canadian Underwriter

More than one-third of the world’s top insurance companies have appointed an executive – commonly known as a chief digital officer (CDO) – to oversee the digital transformation of their business, according to a new study from Strategy&, PwC’s strategy

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Revenues for Marsh’s U.S./Canada division up to US$775 million in Q1 2017, from US$701 million in Q1 2016

May 1, 2017 by Canadian Underwriter

Marsh has reported revenues of US$775 million for its U.S./Canada division for the first quarter of 2017 ending March 31, up from US$701 million in the first quarter of 2016. Consolidated revenue for the quarter was US$3.5 billion, up 5%

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Former RSA Canada exec appointed CEO Canada, Swiss Re Corporate Solutions

April 27, 2017 by Canadian Underwriter

Adrian Hall, former chief customer officer for RSA Insurance in Canada, takes the helm of Swiss Re Corporate Solutions in Canada May 1. He will be “responsible for managing the company’s strategy, development and performance,” Swiss Re Corporate Solutions said

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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

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Damage to reputation/brand gets social, cyber jumps higher on risk list: Aon survey

April 24, 2017 by Angela Stelmakowich

PHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in

News Commercial LinesInsurancePersonal LinesReinsurance

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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Global private companies seem underprepared for cyberattacks: PwC report

March 20, 2017 by Canadian Underwriter

Global private companies seem to be more at risk of cyber threats, but less prepared to protect themselves against cyberattacks, according to a new report from professional services firm PwC. Released late last week, the report, titled Undaunted, but underprepared?,

News InsuranceMarkets / CoveragesTechnology

Global organizations will spend US$1.2 trillion on “digital transformation technologies” in 2017: International Data Corporation

February 24, 2017 by Canadian Underwriter

Global organizations will spend US$1.2 trillion on digital transformation this year, with the fastest growth coming from insurance, banking, retail and healthcare providers, International Data Corporation (IDC) said on Thursday. A new update to IDC’s Worldwide Digital Transformation Spending Guide

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Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank

January 17, 2017 by Canadian Underwriter

The global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent

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Increased cyber espionage, data integrity attacks part of global threat landscape in 2017: Stroz Friedberg

January 5, 2017 by Canadian Underwriter

Top cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We

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SMEs’ cyber risk awareness on the rise: Zurich study

November 23, 2016 by Canadian Underwriter

Cyber risk awareness among small- and medium-sized enterprises (SMEs) is on the rise, according to Zurich Insurance Group’s fourth annual global SME survey. The survey found that just 10% of SMEs said that they were too small to be at

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Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that