Canadian Underwriter

Keyword
business interruption


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Aon cyber coverage to include business interruption resulting from network failure

September 28, 2016 by Canadian Underwriter

Aon plc announced Wednesday its Cyber Enterprise Solution, suggesting that the policy wording on the insurance policy is proprietary to Aon and could cover property damage arising out of a network security breach. Aon Cyber Enterprise Solution “can address emerging

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Business interruption, property damage and general liability critical risks to global growth, new study finds

September 23, 2016 by Canadian Underwriter

Business interruption (BI) is the leading cause of losses for companies, multinational organizations and non-governmental organizations (NGOs) that operate outside the United States, according to a study released on Thursday by international insurance broker Clements Worldwide. The Clements Worldwide Risk

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Ironshore adds crisis management endorsement, active shooter extension in U.S.

September 23, 2016 by Canadian Underwriter

Ironshore Inc. has introduced a crisis management endorsement for all in-force, stand-alone Terrorism policies as an automatic extension so that insureds can access crisis response specialists following an act of terrorism or an active shooter event at an insured location

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Insured losses from Hurricane Hermine will likely not exceed US$400 million: RMS

September 19, 2016 by Canadian Underwriter

Global catastrophe risk management firm Risk Management Solutions, Inc. (RMS) estimated on Monday that the insured loss associated with wind and coastal flooding from Hurricane Hermine will not exceed US$400 million. This figure includes property damage and business interruption caused

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Two-thirds of U.K. polled firms not assessing financial impact of a cyber attack: Marsh

September 19, 2016 by Canadian Underwriter

Almost two-thirds of surveyed large and medium-sized organizations in the United Kingdom do not conduct or estimate the financial impact of a cyber attack, notes a new report issued Monday by Marsh. Despite a 56% rise in boardroom ownership of

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Insurance Institute of Canada launches new catalogue of online courses called CE OnDemand

September 15, 2016 by Canadian Underwriter

The Insurance Institute of Canada (IIC) announced on Thursday that it has launched CE OnDemand, a new catalogue of online courses based on a survey of brokers’ continuing education needs. The IIC said in a press release that CE OnDemand

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Index-linked insurance helps reduce adverse selection: Swiss Re

September 13, 2016 by Canadian Underwriter

A reinsurance program can help mutual insurers free up funds that can be spent elsewhere, while index-based insurance can help provide coverage for business interruption not caused by property damage – such as software and electrical power failures – Swiss

News InsuranceMergers and AqcuisitionsProfessional Development

Commercial insurers in Canada face challenges, opportunities: Kadow

September 12, 2016 Angela Stelmakowich, Editor

CALGARY — Current trends around ownership of brokers by insurers is “basically leaving the mid- to large end of the commercial market to fight over,” Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty Americas (AGCS), said in

News InsuranceLegalMergers and AqcuisitionsTechnology

Canadian companies likely to pay ransomware demands, among highest for lost revenue and business interruption, international study finds

August 4, 2016 by Canadian Underwriter

Companies in Canada are most likely to pay ransomware demands and are ranked among the highest for lost revenue and business interruption, according to an international study of 5,400 IT staff across Canada, the United States, the United Kingdom and

News CatastrophesInsuranceMergers and Aqcuisitions

March heavy rains in New Zealand cost insurers NZ$30 million: ICNZ

August 2, 2016 by Canadian Underwriter

Two days of rain this past March, amounting to 350 mm that caused several rivers to overflow and evacuations to be ordered, has cost insurers NZ$30.2 million dollars, the Insurance Council of New Zealand (ICNZ) reported Monday. “Hundreds of people

Feature Claims CanadaInsurance

The Over/Under on Property Insurance

July 15, 2016 Timothy Zimmerman and Ari Singer

The importance of determining the value of a commercial property when applying for insurance

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Oilsands companies not expected to make insurance claims from Fort McMurray fire

July 11, 2016 by Canadian Underwriter

CALGARY – Oilsands producers are not expected to be among the recipients of a record insurance payout arising from the wildfire in Fort McMurray, Alta., in May even though some of them had to halt production for weeks at a