Canadian Underwriter

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cyber


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Guidewire’s planned acquisition of Cyence to help p&c clients deal with 21st-century risks

October 10, 2017 by Canadian Underwriter

Guidewire Software, Inc.’s planned acquisition of Cyence Inc. will ensure Guidewire clients can access a cloud-based data listening and risk analytics solution to help them manage emerging risks for which long claims histories may not be available. California-based Guidewire Software,

News ClaimsInsuranceMarkets / CoveragesTechnology

Endeavour launches cyber facility, cyber protection becoming key to risk management

October 10, 2017 by Canadian Underwriter

Endeavour Insurance Services is looking to facilitate easier management of risks in the small-medium enterprise (SME) cyber space – while also supporting MGAs, brokers and clients in the U.S. and Canada – with the launch of a new technology and

News ClaimsInsuranceTechnology

Aviva Canada beefs up identity theft offering to protect customers

October 3, 2017 by Canadian Underwriter

Aviva Canada is marking the beginning of Cyber Security Awareness Month (October) with the announcement that it is introducing enhancements to its identity theft coverage at no additional cost to existing customers. The coverage features widespread financial protection if a

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Insurance industry prepared to accommodate or address technological challenges: OSFI’s Henderson

October 2, 2017 Jason Contant, Online Editor

Despite the constantly changing landscape, ever since insurance has been around, the industry has “accommodated or addressed” these emerging challenges, attendees to the National Insurance Conference of Canada (NICC) heard on Monday. Neville Henderson, assistant superintendent of the insurance supervision

News ClaimsInsuranceMarkets / CoveragesTechnology

Cyber attacks among polled U.S. business costing at least US$5,000

October 2, 2017 by Canadian Underwriter

Seven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of

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Cyber contributes to premium growth in Lloyd’s market

September 29, 2017 by Canadian Underwriter

The 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

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Global cyber premiums to increase six- to eightfold within a decade: Fitch

September 28, 2017 by Canadian Underwriter

Global 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

Feature InsuranceMergers and AqcuisitionsTechnology

Charting the Course

September 13, 2017 Fred Eslami, Senior Financial Analyst, A.M. Best Company

Cyber 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?

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‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best

September 6, 2017 Greg Meckbach, Associate Editor

As 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

Feature ClaimsLegal

Held to Ransom

September 1, 2017 Graeme Newman, Chief Innovation Officer, CFC Underwriting

Ransomware 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.

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Chubb broadens cyber enterprise risk management solutions for Canadian and American clients

August 30, 2017 by Canadian Underwriter

Chubb 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

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Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB

August 23, 2017 by Canadian Underwriter

Responses 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