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Common language holds promise of advancing advance risk management efforts: Seaman

April 24, 2017 by Angela Stelmakowich

PHILADELPHIA – Risk managers are developing a language that translates worldwide, an advance that bodes well for both the profession and the organizations risk professionals are serving, RIMS president Nowell Seaman suggested during the opening session of the RIMS 2017

News InsuranceLegalPersonal Lines

Exclusion clause for ‘conversion’ in comprehensive auto policy ‘does not come close’ to being easily intelligible: Court

April 24, 2017 by Canadian Underwriter

An exclusion in an auto insurance policy for loss or damage caused by “conversion,” by someone in lawful possession of a vehicle does not apply to a truck tractor badly damaged by fire, a Supreme Court of British Columbia judge

News InsuranceLegalPersonal Lines

Saskatchewan sees most tickets yet for distracted driving since traffic safety spotlights began in 2014: SGI

April 24, 2017 by Canadian Underwriter

The month of March saw the most tickets yet for distracted driving since monthly traffic safety spotlights began in 2014, Saskatchewan Government Insurance (SGI) reported on Monday. Last month, a total of 523 tickets were issued: 441 for driving while

News InsuranceLegal

Justices turn away GM appeal over ignition switches

April 24, 2017 by The Associated Press

WASHINGTON – The Supreme Court on Monday turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims. The justices without

News InsuranceMarkets / CoveragesTechnology

Risk professionals should move to fill the understanding gap around disruptive technologies

April 24, 2017 by Angela Stelmakowich

PHILADELPHIA – Risk managers will need to take the lead in organizational efforts to address complex challenges and opportunities in an environment that increasingly features rapidly advancing disruptive technology risks, suggests a joint report from broker and risk advisor Marsh

News CatastrophesInsurancePersonal Lines

Aon unit pegs economic loss from Matthew at US$15 billion

April 24, 2017 by Canadian Underwriter

Hurricane Matthew, which is estimated to have caused $150 million in economic losses in Canada alone and killed more than 600 in the Western hemisphere, set several records, Impact Forecasting LLC said in a report released Monday. Hurricane Matthew officially

News InsuranceMarkets / CoveragesTechnology

Investments to fight cyber breaches must include technology, people and risk transfer: WTW cyber head

April 24, 2017 by Angela Stelmakowich

PHILADELPHIA – Considering human risk is essential when determining how best to combat data breaches and associated costs, but the human element is routinely overshadowed by technology in organizational efforts to bolster cyber security, says Anthony Dagostino, global head of

News Climate ChangeInsuranceMarkets / Coverages

Desjardins Group and the Desjardins Group Pension Plan invest more than $1 billion in renewable energy and clean technologies

April 24, 2017 by Canadian Underwriter

Desjardins Group and the Desjardins Group Pension Plan (DGPP) announced on Friday that they have invested more than $1 billion in renewable energy and clean technologies. The financing came from Desjardins Group’s Capital Market Division and equity investments from the

News InsuranceTechnology

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 InsuranceProfessional Development

RIMS supports charity in its fight against childhood cancer

April 23, 2017 by Angela Stelmakowich

PHILADELPHIA – RIMS, the risk management society, has announced that Alex’s Lemonade Stand Foundation (ALSF) is the beneficiary of the society’s 2017 Community Service Day Project, sponsored by ESIS. The project, which this year focuses on combating childhood cancer, is

News InsuranceMarkets / CoveragesPersonal LinesProfessional DevelopmentTechnology

Allianz makes strategic investment in Lemonade Insurance Company

April 22, 2017 by Canadian Underwriter

Allianz SE announced on Friday that it has recently made a “strategic investment” in Lemonade Insurance Company, a New York-licensed renters and homeowners insurer powered by artificial intelligence and behavioural economics. “The partnership ties in neatly with our digitization focus,”

News InsuranceLegalLegislation / Regulation

Legislation allowing alcohol testing of drivers without prior suspicion tabled on Parliament Hill

April 21, 2017 by Canadian Underwriter

If legislation tabled last week is passed into law, Canadian police officers would be able to test any legally-stopped driver for alcohol impairment and the Criminal Code of Canada would be amended to clarify that police drug recognition experts could