Keyword
economy
Holistic approach needed to reduce confusion around cyber security, tackle inaction: Echols
June 15, 2017 by Canadian UnderwriterTools meant to bolster cyber security are being introduced absent a holistic view, producing even more questions among already-confused businesses expecting some progress on their individual risk reduction efforts, cyber expert Michael Echols suggested Tuesday during a symposium in downtown…
Economy at risk without joint Canada-U.S. cyber defence, says former U.S. National Security Agency director
June 2, 2017 Mike Blanchfield - THE CANADIAN PRESSOTTAWA – Canada and the United States need a new cyber defence program – like their joint Norad air defence – to prevent hackers from hobbling their economies, says the former head of the U.S. National Security Agency. Retired general…
Clear, policy-driven Canadian fintech strategy needed: Toronto alliance
May 15, 2017 by Canadian UnderwriterDevelopment of a consistently implemented, policy-driven Canadian fintech strategy focused on fostering innovation is essential and strengthening the fintech ecosystem in the Toronto area should be seen as an imperative for the country’s financial services sector and governments, contends the…
CIBC economist tells insurers how investment returns could be affected by ‘things that go Trump in the night’
April 26, 2017 Greg Meckbach, Associate EditorInterest rates in Canada are predicted to stay “very low by historic standards” through the end of 2019, an economist recently told insurance professionals, while a “movement against globalization” is a concern for one of Canada’s largest carriers. Avery Shenfeld,…
Central bank says no rate cut considered amid stronger growth, but notes risks
April 13, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The head of the Bank of Canada said an interest rate cut was not on the table during the central bank’s latest policy decision, but also warned of persistent risks that suggest it will not hike any time…
Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron
April 7, 2017 by Angela StelmakowichWhen talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day…
Economy making progress, but risks remain, BoC deputy governor says
March 21, 2017 The Canadian PressVANCOUVER – The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada said Tuesday. Lawrence Schembri said recent economic data has been…
Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best
January 20, 2017 by Canadian UnderwriterRatings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to…
Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank
January 17, 2017 by Canadian UnderwriterThe global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent…
Europe’s insurers paid out 2.7 billion euros a day in 2015: Insurance Europe
December 20, 2016 by Canadian UnderwriterEurope’s insurers paid out a total of 975 billion euros in claims and benefits over the course of 2015, the equivalent of about 2.7 billion euros per day, according to figures released on Tuesday by Insurance Europe, the European insurance…
Policy uncertainty, rising rates pose credit risks in North America: S&P report
December 7, 2016 by Canadian UnderwriterCanada is expected to witness a slower pick-up in business investment until a clearer picture develops on recent developments around credit conditions south of the border, including the influence of the outcome of the recent U.S. election, suggests a briefing…
Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board
November 22, 2016 by Canadian UnderwriterThe Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event…