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Cloud technology challenging the notion of what a corporate network is: RIMS speaker

April 13, 2016 Angela Stelmakowich, Editor

SAN DIEGO – Hacktivist-type attacks like those involving Sony Pictures Entertainment and Ashley Madison have gotten very personal and are coming at a time when cloud technology is transforming corporate networks, Brad Gow, senior vice president of Endurance Insurance, said

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsTechnology

Beazley, Munich Re cover cyber risk up to $100 million

April 12, 2016 by Canadian Underwriter

Beazley plc announced Monday it has partnered with Munich Re’s corporate insurance partner to offer tailored cyber insurance. The products will provide coverage of up to US$100 million or 100 million euros, stated Beazley, which manages six syndicates in the

News InsuranceLegalMergers and AqcuisitionsTechnology

Significant UK cyberattack could cost billions of pounds in economic losses, study finds

April 12, 2016 by Canadian Underwriter

A significant cyberattack across the United Kingdom’s critical national infrastructure could have “far-reaching and significant economic impacts” for Britain, according to a study carried out by the Cambridge Centre for Risk Studies. The report, titled Integrated Infrastructure: Cyber Resiliency in

News ConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional DevelopmentTechnology

Cyber incidents in mining a complex topic for risk managers, mining product development has not kept pace with needs: Munich Re

April 12, 2016 Angela Stelmakowich, Editor

SAN DIEGO – It is important for risk managers in the mining sector to understand the most critical scenarios for their companies and to analyze the true impacts of cyber incidents, suggests Günter Becker, head of mining for Munich Re.

News InsuranceLegalTechnology

Risk professionals must look forward to what can be done with 3D printing to get fix on related risks, RIMS attendees hear

April 11, 2016 Angela Stelmakowich, Editor

SAN DIEGO – Those in insurance and risk management will need to readjust thinking from what has gone before to what could happen in future to get a firm grasp on the potential risk picture for 3D printing moving forward,

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

First open source cyber scenario released by AIR Worldwide during RIMS 2016

April 11, 2016 Angela Stelmakowich, Editor

SAN DIEGO — Catastrophe modelling firm AIR Worldwide has launched what it calls the first open source deterministic cyber risk scenario, a move meant to help individual companies and the insurance industry as a whole better understand aggregated risk from

News CatastrophesInsuranceTechnology

Canadian p&c insurers should prepare for next wave of corporate M&A: Ernst & Young

April 11, 2016 by Canadian Underwriter

Canadian property and casualty insurers should “expand risk advisory capabilities” and prepare for the “next wave” of corporate mergers and acquisitions, Ernst & Young LLP suggested in a report released Monday. In its 2016 EY Canadian property and casualty insurance

News InsuranceTechnology

Total spending on IT infrastructure products for cloud deployment to increase 18.9% in 2016: International Data Corporation

April 11, 2016 by Canadian Underwriter

Total spending on IT infrastructure products for deployment in cloud environments will increased by 18.9% in 2016, according International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Experts caution self-driving cars aren’t ready for roads

April 11, 2016 Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – Self-driving cars are more likely to hurt than help public safety because of unsolved technical issues, engineers and safety advocates told the government Friday, countering a push by innovators to speed government approval. Even a trade association for

News AssociationsClimate ChangeEarnings / RatingsInsuranceLegislation / RegulationProfessional DevelopmentTechnology

Forecasting emerging risks expected to get tougher: Marsh/RIMS report

April 11, 2016 Angela Stelmakowich, Editor

SAN DIEGO – Cyber attacks – once again identified as a top critical business risk – are expected to be a source of emerging risks, but forecasting for all emerging risks could prove more challenging over the next three years,

News InsuranceTechnology

New mobile app from Zurich released at 2016 RIMS to help companies assess, manage risk

April 11, 2016 Angela Stelmakowich, Editor

SAN DIEGO – Zurich Insurance Group is unveiling a new mobile app this week at the 2016 RIMS Conference and Exhibition which the company reports will enable customers to perform their own on-site risk assessments and use those results to

News InsuranceLegalMergers and AqcuisitionsTechnology

FBI warns of dramatic increase in business email compromise scams, says US$2.3 billion lost over two-year period

April 8, 2016 by Canadian Underwriter

The Federal Bureau of Investigation (FBI) in the United States has issued a warning of a “dramatic” rise in “business email compromise” scams (BEC) that has resulted in massive financial losses in U.S. cities. From October 2013 until February 2016,