Canadian Underwriter

Keyword
business interruption


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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

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Willis Towers Watson launches new cyber product for global airlines

April 11, 2017 by Canadian Underwriter

Global advisory, broking and solutions company Willis Towers Watson (WTW) announced on Tuesday that it has introduced a new “flexible insurance solution” specifically tailored to cover cyber exposure affecting the global airline industry. CyFly forms part of WTW’s integrated approach

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Organizations considering standalone cyber coverage should evaluate risk profile to see if traditional policies are adequate: RIMS

March 24, 2017 by Canadian Underwriter

Organizations considering standalone cyber coverage should carefully evaluate their risk profile and determine whether more traditional policies provide adequate coverage, suggests a newly released report from RIMS, the risk management society. The report, authored by Teri Cotton Santos, a member

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BHSI launches professional liability, network security and privacy policy in Canada

March 21, 2017 by Canadian Underwriter

Berkshire Hathaway Specialty Insurance (BHSI) has introduced a product designed to address the needs of a variety of enterprises, from systems integrators to telecommunications providers to IT staffing firms. The Professional First Professional Liability and Network Security & Privacy Policy,

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

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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

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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

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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,