Keyword
emerging risks
Why Deloitte doesn’t anticipate a soft market ‘for the next few years’
August 15, 2022 by David GambrillCanada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,…
What the regulator’s focus on digital risk means for you
June 27, 2022 by David GambrillExpect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the…
Regulator to engage MGA sector on emerging risks
June 22, 2022 by Jason ContantCanadian Insurance Services Regulatory Organizations (CISRO) will soon be engaging Canada’s national MGA association to find out the emerging risks for the sector, the regulator said during a recent industry event. “Later this year, CISRO will be engaging CAMGA [Canadian…
What’s lurking behind all of the financial and pandemic risks…
February 1, 2021 by David GambrillRisk managers globally are scrambling to respond to a number of financial risks related to the pandemic and the related economic meltdown, making credit risk one of their chief concerns for 2021, as reported in a new study by Deloitte. But…
P&C industry braces for a ‘second wave’ of COVID liability
September 15, 2020 by David GambrillThere is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers…
CFC launches revamped proposition for tech companies worldwide
October 24, 2017 by Canadian UnderwriterLondon-based CFC Underwriting is looking to beef up protection against the emerging risks that technology companies around the world face with the launch of a revamped insurance proposition. “The risks faced by tech businesses are changing as rapidly as technology…
Guidewire’s planned acquisition of Cyence to help p&c clients deal with 21st-century risks
October 10, 2017 by Canadian UnderwriterGuidewire 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,…
The Bitfury Group and Risk Cooperative partner to pioneer blockchain applications in insurance intermediation market
June 19, 2017 by Canadian UnderwriterBlockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in…
Reduced market access, regulatory fragmentation and cloud risk accumulation among key industry risks: Swiss Re
June 13, 2017 by Canadian UnderwriterReduced market access, regulatory fragmentation, the return of inflation, cloud risk accumulation and emerging liability legislation for artificial intelligence are just some of the key risks for the re/insurance industry, according to Swiss Re’s 2017 SONAR report. The report, released…
Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey
June 6, 2017 by Canadian UnderwriterGreater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review…
Cyber security a ‘key aspect’ of risk management for medical professional liability insurers: A.M. Best
May 11, 2017 by Canadian UnderwriterMedical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,…
Insurance undergoing “a fundamental structural change”: KPMG speaker
December 8, 2016 by Angela StelmakowichThe insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the…