Keyword
cyber
Cyber contributes to premium growth in Lloyd’s market
September 29, 2017 by Canadian UnderwriterThe Lloyd’s market had a 1.1-point improvement in its combined ratio for the first six months of the year, while gross written premiums were up 16%, with professional lines in the United States, cyber and political risk among the lines…
Global cyber premiums to increase six- to eightfold within a decade: Fitch
September 28, 2017 by Canadian UnderwriterGlobal cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found…
Charting the Course
September 13, 2017 Fred Eslami, Senior Financial Analyst, A.M. Best CompanyCyber insurance seems like it is poised to go it alone. Growth of the line — currently in the United States and perhaps in future in Canada — is taking shape as a stand-alone offering. What are the benefits of such a move?
‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best
September 6, 2017 Greg Meckbach, Associate EditorAs the Bank of Canada announced Wednesday its second rate hike in less than two months, an analyst with A.M. Best Company Inc. suggested to industry professionals that a 2.1-point increase in the industry-wide operating ratio in the Canadian property…
Held to Ransom
September 1, 2017 Graeme Newman, Chief Innovation Officer, CFC UnderwritingRansomware is not new, but attacks are transforming in step with changing motivations. Businesses are advised to have in place precautions to thwart attacks when possible, complemented by cyber insurance should attackers manage to break through.
Chubb broadens cyber enterprise risk management solutions for Canadian and American clients
August 30, 2017 by Canadian UnderwriterChubb announced on Wednesday that it has broadened its enterprise risk management solutions for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management and DigiTech Enterprise Risk Management, combine cyber insurance…
Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB
August 23, 2017 by Canadian UnderwriterResponses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than…
Ironshore establishes computer emergency response team to help policyholders with cyber response
August 22, 2017 by Canadian UnderwriterNew York-based Ironshore Inc. is taking steps to help manage cyber claims for all in-force policies, regardless of line, with the launch of a dedicated computer response team. Comprised of cyber claims co-ordinators representing each of the insurer’s specialty lines…
Proposed model law could beef up U.S. insurers’ cyber risk management
August 17, 2017 by Canadian UnderwriterNew cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has…
Q2 commission, fee growth flat at Willis Towers Watson
August 4, 2017 by Canadian UnderwriterWillis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic…
Cyber work diagnostic tool to help foster a cyber-savvy workforce by making people the focus: Willis Towers Watson
July 21, 2017 by Canadian UnderwriterWillis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an…
Cyber threat landscape growing, potential for emergence of destruction of service attacks: Cisco
July 20, 2017 by Canadian UnderwriterThe potential for “destruction of service” (DeOS) attacks is greatly concerning and organizations would be well-advised to adopt a proactive cyber stance in their protection efforts to combat increasingly sophisticated attackers, warns a new report from Cisco. “Cyber incidents such…