Large companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and…
Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying…
Brokers are telling the Insurance Bureau of Canada that for some homeowner clients, the deductible on earthquake coverage is so high that the clients could still end up broke after a major tremor. “Right now, the deductible on some of…
Directors and officers do not have to be flawless in their cyber security controls but need to come up with a cyber incident response plan and practice it on a regular basis, speakers told insurance professionals at a recent conference.…
Organizations and their boards must treat cyber risk as an enterprise-wide issue to help foster a culture in which every person and every department understands it has a role to play in making the organization as cyber-secure as possible, corporate…
Climate change may undermine the soundness of insurers’ current catastrophe models, as well as diminish the effectiveness of existing portfolio diversification and risk transfer practices, suggested a recent report from the Toronto-based Global Risk Institute (GRI). “On the bright side,…