Keyword
energy
EY polls Canadian oil & gas refinery operators on equipment failure
August 28, 2017 by Canadian UnderwriterSome operators of Canadian oil and gas upgraders and refiners are delaying scheduled maintenance due to budget cuts and there is a heightened risk of equipment failure, especially with valves and pumps, Ernst & Young LLP suggested in a recent…
VirtualArmour expands penetration into energy sector cyber protection
July 10, 2017 by Canadian UnderwriterVirtualArmour International Inc. has partnered with a global architectural design and engineering firm that services the energy industry to design new security infrastructure in light of the sector increasingly becoming a target for cyber attacks. Under the terms of a…
Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One
June 28, 2017 DisruptionThere appears to be a divide between middle-market companies fully expecting that disruption will unfold and taking concrete steps to address whatever risk that change may bring, suggest findings of a new study from New York-based Capital One Commercial Bank.…
Bank of Canada warns of cyberattack vulnerabilities in financial sector
June 13, 2017 Mike Blanchfield and Jim Bronskill - THE CANADIAN PRESSOTTAWA – Canada’s interconnected banks are vulnerable to a cascading series of cyberattacks that could undermine broad confidence in the financial system, the Bank of Canada warns. The structural vulnerability could allow for the easy spread of an initial attack…
Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing
May 23, 2017 by Canadian UnderwriterSix months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,…
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…
“New normal” may be emerging in global energy insurance markets: Willis Towers Watson
April 12, 2017 by Canadian UnderwriterThe energy sector is still beset by some significant challenges, including low oil prices, but there may also be a “new normal” emerging in the global energy insurance market, according to global advisory, broking and solutions company Willis Towers Watson…
Risk management overhaul necessary for cities to become more resilient to catastrophic events: report
March 27, 2017 by Canadian UnderwriterOfficials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a…
Q4 combined ratio up 14.9 points at Aspen
February 9, 2017 by Canadian UnderwriterWildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56…
Canada’s energy, utilities sectors should beef up climate change competency: report
January 13, 2017 by Canadian UnderwriterCompanies in Canada’s most carbon-intensive sectors are not demonstrating “climate competency” in the boardroom and should be doing so to address climate change issues, suggests a report this week by Shareholder Association for Research & Education (SHARE). “Investors are increasingly…
Canadian pipeline applications to require more emergency response information
January 12, 2017 by Canadian UnderwriterThe National Energy Board (NEB), an independent federal regulator of several parts of Canada’s energy industry, announced on Wednesday that it will require companies to provide additional emergency response detail during the pipeline application phase of a project. NEB said…