Keyword
fraud
Canadians believe businesses working to protect personal information, but cybersecurity concerns linger: fraud survey
March 27, 2017 by Canadian UnderwriterThere is a sharp drop in the number of Canadians expressing concern about identity theft this year compared to last year, and Canadian businesses are working to protect personal information of customers, a new survey conducted for the Chartered Professional…
Organizations considering standalone cyber coverage should evaluate risk profile to see if traditional policies are adequate: RIMS
March 24, 2017 by Canadian UnderwriterOrganizations considering standalone cyber coverage should carefully evaluate their risk profile and determine whether more traditional policies provide adequate coverage, suggests a newly released report from RIMS, the risk management society. The report, authored by Teri Cotton Santos, a member…
Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company
March 9, 2017 by Canadian UnderwriterThe insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
Fraud vigilance increasing among polled Canadians: Equifax Canada
February 28, 2017 by Canadian UnderwriterSurveyed Canadians are becoming more vigilant about guarding against fraud, with the lion’s share of respondents taking measures to protect their personal information and three in 10 seeking help to ensure they are alerted should a fraud be under way.…
Half of polled Canadian businesses suspect or know their firms have been hit by fraud in last year
February 22, 2017 by Canadian UnderwriterNew survey findings indicate a disconnect between how many Canadian businesses have experienced fraud in the last year and the high level of confidence among business and C-suite executives regarding their ability to prevent such incidents. Half of the Canadian…
ICBC launches education campaign on insurance fraud
February 21, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) announced on Monday that it has launched an education campaign aimed at helping to prevent insurance fraud. ICBC said in a statement that while most claims are honest, insurance industry studies estimate that…
Supreme Court of Canada hears appeal from auditing firm over $118-million judgement arising from Livent fraud
February 15, 2017 by Canadian UnderwriterIf the Supreme Court of Canada upholds a Court of Appeal for Ontario ruling against Deloitte & Touche, corporate auditors “will be encouraged to resign an audit before they feel they can responsibly do so in order to minimize the…
ICBC board finalizes terms of reference for independent review of insurance rates
January 26, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia’s (ICBC) Board of Directors (BoD) has finalized the terms of reference for an independent review of the fairness and affordability of basic insurance rates in the province, with the idea being to limit future…
LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs
January 24, 2017 by Canadian UnderwriterLexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.…
Coverage for Social Engineering Fraud Takes its Place Among the Required Coverage for Canadian Business
January 23, 2017 David S. Wilson, partner; Chris McKibbin, partner; and Zack Garcia, associate, Fidelity Practice Group, Blaney McMurtry LLPStandard crime insurance policies are not intended to cover social engineering fraud
FSCO issues warning over spam email appearing to come from the regulator
December 22, 2016 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a warning about a spam email using the fsco.gov.on.ca domain name and email address richard@fsco.gov.on.ca, which it said has been transmitting a computer virus to unsuspecting members of the public. The…
ICBC identifies over 3,000 possible fraud alerts on open claims with new analytics software
December 9, 2016 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) has discovered 3,300 possible fraud alerts on open claims over the last three years following a review with a new analytics tool. ICBC reported on Thursday that it has signed a five-year agreement…