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Keyword
business interruption


News CatastrophesLegalLegislation / RegulationTechnology

Disruption becoming more of a motivator for cyber attacks: ICRMC panel

March 2, 2017 by Angela Stelmakowich

The motivation and rationale behind certain cyber attacks seems to be undergoing a transition, with some actors looking to inflict the most disruption possible on a target entity simply for the “fun” of it, it was suggested Thursday during the

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Ontario-based Pen Underwriting Canada launches cyber insurance product

February 15, 2017 by Canadian Underwriter

Burlington, Ont.-based Pen Underwriting Canada Limited announced on Wednesday that it has created a comprehensive cyber solution to respond to the “increasing threat that cybercrime poses for corporations.” Backed by A+ rated capacity, the specialist cyber product is designed for

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Terrorism insurance gaps demand rethinking focus on property: C4 2017 speaker

February 2, 2017 by Angela Stelmakowich

Terrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Business interruption replaces cyber as top business risk for Canadian respondents to Allianz Risk Barometer

January 11, 2017 by Canadian Underwriter

The risk of cyber incidents has plummeted from first to fifth place among Canadian respondents in an annual survey by Allianz of the most important business risks, while more than one in seven Canadian respondents identified quality deficiencies, serial defects

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Evolving technology expected to introduce new cyber threats, broadened attacks: Trend Micro

December 7, 2016 by Canadian Underwriter

The coming year is expected to witness evolving technology that introduces new cyber threats and attacks that broaden and differentiate to penetrate new vulnerable surfaces, suggests a report issued Wednesday by Trend Micro Incorporated. The expectation is 2017 “will include

News CatastrophesInsuranceMergers and Aqcuisitions

Insured losses of New Zealand quake could be as much as US$3.5 billion: AIR Worldwide

November 18, 2016 by Canadian Underwriter

The largest earthquake to hit New Zealand since 2009, registering magnitude 7.8, could contribute to insured losses amounting to US$762 million to US$3.5 billion, catastrophe modelling firm AIR Worldwide reported Thursday. The modelled estimates include insured physical damage to property

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

78% of global SMEs fear impact of climate change on their businesses: Zurich study

November 4, 2016 by Canadian Underwriter

Nearly four-fifths (78%) of global small- and medium-sized enterprises (SMEs) surveyed by Zurich Insurance Group expected risks associated with climate change to have a significant impact on their business. Zurich’s fourth annual global SME survey, titled Potential effect on business

News CatastrophesInsuranceMergers and Aqcuisitions

Businesses plan to “invest in resilience” in aftermath of Hurricane Matthew: FM Global

October 28, 2016 by Canadian Underwriter

The ravages of Hurricane Matthew are prompting businesses to rethink their natural hazards preparedness, with more than one out of four surveyed employees in the stricken region saying they believe their companies will increase investment in the area. The survey,

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS

October 21, 2016 by Canadian Underwriter

RMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR

October 13, 2016 by Canadian Underwriter

Modelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean

News AssociationsInsuranceMarkets / CoveragesReinsurance

Pool Re announces launch of International Forum of Terrorism Risk (Re)Insurance Pools

October 11, 2016 by Canadian Underwriter

Pool Re, which reinsures property damage and business interruption against terrorism risk in Great Britain, announced on Monday the launch of the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP). The formation of IFTRIP is the culmination of a Pool

News CatastrophesInsuranceLegalMarkets / CoveragesMergers and AqcuisitionsReinsurance

Business interruption payouts should be based on historic results even in post-disaster economy: AEIC speaker

October 11, 2016 by Angela Stelmakowich

The Fort McMurray wildfire will likely raise questions about the basis for business interruption (BI) insurance payouts in a post-catastrophe economy, but historic results are the best indication of what otherwise would have occurred, Emily Stock argued during the 43rd