Canadian Underwriter

Keyword
china

News CatastrophesInsuranceMergers and Aqcuisitions

Hurricane Harvey likely to be one of the costliest natural disasters on record for U.S. economy: Aon Benfield

September 8, 2017 by Canadian Underwriter

Hurricane Harvey is likely to be one of the costliest natural disasters on record for the economy of the United States, with damage from the hurricane to minimally cost tens of billions of dollars, Aon Benfield has reported. Impact Forecasting,

News InsuranceLegislation / RegulationProductsTechnology

Worldwide spending on IT security products and services to reach US$86.4 billion in 2017: Gartner

August 22, 2017 by Canadian Underwriter

Worldwide spending on information technology security products and services will reach US$86.4 billion in 2017, an increase of 7% over 2016, according to the latest forecast from Gartner, Inc.
Spending is expected to continue its growth to US$93 billion in 2018, the Stamford, Conn.-based research and advisory company said in a press release last week.
Within the infrastructure protection segment, Gartner forecasts fast growth in the security testing market (albeit from a small base) due to continued data breaches and growing demands for application security testing as part of…

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsTechnology

Cybercriminals used WannaCry epidemic to promote fraudulent services, Kaspersky report says

August 22, 2017 by Canadian Underwriter

Cybercriminals involved in spam distribution tried to capitalize on public fears of the WannaCry ransomware epidemic with spam and phishing emails offering cyber protection, a new report from Kaspersky Lab has found. The Spam and phishing in Q2 2017 report,

News CatastrophesInsuranceMergers and Aqcuisitions

Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon

August 8, 2017 by Canadian Underwriter

Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsuranceTechnology

Global insurance M&A hits two-year low: Clyde and Co report

August 4, 2017 by Canadian Underwriter

The volume of completed mergers and acquisitions (M&A) worldwide in the insurance industry continued its downward trend, with 170 deals in the first six months of 2017 compared to 186 in the preceding period, according to a new report from

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Global insurance brokers sector will hit US$54.8 billion in 2021 as growth remains impressive despite deceleration: report

July 25, 2017 by Canadian Underwriter

The global insurance brokers sector will reach US$54.8 billion in 2021, according to data from research company MarketLine. The global insurance brokers sector has experienced “impressive growth” in recent years, registering a compound annual growth rate (CAGR) of 7% between

News InsuranceTechnology

Canada’s fintech adoption rate doubles in last 18 months: EY report

July 25, 2017 by Angela Stelmakowich

Customer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by

News InsuranceMarkets / CoveragesTechnology

Worldwide IT spending set to rebound in second half 2017, led by cloud and mobile upgrade cycles: report

July 14, 2017 by Canadian Underwriter

Worldwide IT spending is expected to rebound in the second half of the year, led by cloud and mobile upgrade cycles, International Data Corporation (IDC) said in a new report. According to the latest edition of IDC’s Worldwide Black Book,

News CatastrophesInsuranceMergers and Aqcuisitions

Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield

July 6, 2017 by Canadian Underwriter

A thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Global premiums up in 2016, growth lower but outlook still positive: Swiss Re

July 5, 2017 by Canadian Underwriter

The 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

New cyberattack causes mass disruption globally

June 27, 2017 by Canadian Underwriter

One month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

U.S. earthquakes estimated to cost US$6.1 billion annually in building stock losses

June 26, 2017 by Canadian Underwriter

Earthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the