TORONTO – Credit monitoring company Equifax says that it will work with regulators in Canada and the United Kingdom to determine the appropriate steps following a lapse in cyber security that’s affecting about 143 million people in the United States.…
A firm once described by its co-founder as being “on the lunatic fringe” of the insurtech market plans to provide, in Canada, insurance covering consumer items for accidental damage, loss and theft starting next year. Trov Inc., which is currently…
Organizations with standalone cyber insurance policies increased three points from 2016 to 83%, according to the 2017 RIMS Cyber Survey. “Risk professionals’ continued to show confidence in standalone cyber insurance policies as the number of practitioners who purchased the coverage…
Roost, a U.S.-based innovator in smart home telematics for the insurance industry, announced on Wednesday it has closed its second round of funding with US$10.4 million in investments from three companies, including Desjardins Insurance. The US$10.4 million Series B funding includes strategic investments from three companies, led by Aviva Ventures, with participation from Desjardins Insurance and Fosun RZ Capital in China, noted information from Sunnyvale, Calif.-headquartered Roost. Existing investors also participated in the round, bringing total funding to date to US$17 million.…
PERILS AG has disclosed its third loss estimate of 249 million euros for windstorm Thomas, which affected parts of Europe in late February. The independent organization that provides high quality data relevant to the insurance industry “with the aim of…
Cybercriminals involved in spam distribution tried to capitalize on public fears of the WannaCry ransomware epidemic with spam and phishing emails offering cyber protection, a new report from Kaspersky Lab has found. The Spam and phishing in Q2 2017 report,…
Global reinsurers’ first half 2017 results provide further evidence of continuing pressure on pricing and earnings, Fitch Ratings said in a report released on Monday. “Intense competition among global reinsurers and the abundance of capital invested in the sector mean…
A new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small…
Arthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec. Terms of the transaction were not disclosed. Established…
The volume of completed mergers and acquisitions (M&A) worldwide in the insurance industry continued its downward trend, with 170 deals in the first six months of 2017 compared to 186 in the preceding period, according to a new report from…
Aviva plc has reported a general insurance combined operating ratio (COR) of 98.9% for Canada for the first six months of the year ending June 30, up three points from 95.9% in the first six months of last year. For…
French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for…