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Proposed model law could beef up U.S. insurers’ cyber risk management

August 17, 2017 by Canadian Underwriter

New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has

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Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada

July 19, 2017 by Canadian Underwriter

Canadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.

News Climate ChangeInsuranceMarkets / CoveragesProfessional Development

Task Force on Climate-related Financial Disclosures recommends organizations provide such disclosures in public annual filings

July 4, 2017 by Canadian Underwriter

The Task Force on Climate-related Financial Disclosures (TFCD) has recommended that organizations provide such disclosures in their mainstream (public) annual financial filings, among other recommendations. TFCD released on June 29 its final report, saying that the task force “believes climate-related

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Ontario should adopt ‘multi-provider insurance system’ for new home warranties: Cunningham

April 3, 2017 by Canadian Underwriter

Warranties that new homes in Ontario are free from defects should be available from multiple providers and treated as insurance products, former judge J. Douglas Cunningham recommended in a recent report. Warranty coverage currently available from Tarion Warranty Corp. “should

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

Munich Re, Insurance Europe welcome U.S.-EU covered agreement

January 20, 2017 by Canadian Underwriter

Munich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to

News Climate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Canada’s energy, utilities sectors should beef up climate change competency: report

January 13, 2017 by Canadian Underwriter

Companies in Canada’s most carbon-intensive sectors are not demonstrating “climate competency” in the boardroom and should be doing so to address climate change issues, suggests a report this week by Shareholder Association for Research & Education (SHARE). “Investors are increasingly