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Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR

October 13, 2016 by Canadian Underwriter

Modelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean

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88% of U.S. state and local government IT professionals concerned about cyberattacks targeting critical city infrastructure: study

September 23, 2016 by Canadian Underwriter

Almost nine in 10 state and local government IT professionals in the United States are concerned about cyberattacks targeting critical city infrastructure, according to a study conducted on behalf of Tripwire, Inc., a provider of security, compliance and IT operations

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Impact of Fort Mac wildfire adds to Alberta’s economic challenges, increases deficit: province

August 24, 2016 by Angela Stelmakowich

Costs associated with the wildfire that ravaged parts of Alberta’s Wood Buffalo region this past May, coupled with the impact of ongoing low oil prices, has set the provincial government on a continuing cautious course to its finances. “In the

News CatastrophesInsuranceMergers and Aqcuisitions

Mayor of Ontario city of Kenora declares state of emergency following flooding

June 29, 2016 by Canadian Underwriter

The mayor of the city of Kenora in northwestern Ontario declared a state of emergency on Monday as a result of major flooding over the past weekend. Kenora saw more than 109 millimetres (mm) of rain over a two-day period,

News CatastrophesClimate ChangeConstructionInsurance

Climate change forcing builders to rethink how they design structures: expert

June 27, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – Severe weather events like wildfires and floods are becoming more frequent and more difficult to predict, forcing architects and engineers to rethink how they design buildings, infrastructure and cities. Brock Schroeder, managing director of engineering firm Entuitive, says

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60% of digital businesses will suffer major service failures by 2020 due to inability to manage digital risk: Gartner

June 6, 2016 by Canadian Underwriter

Sixty per cent of digital businesses will suffer major service failures by 2020 due to the inability of IT security teams to manage digital risk, according to a special report from Gartner, Inc., an information technology research and advisory company.

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Timing of economic rebound from Alberta wildfire hard to forecast: Poloz

June 6, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says it’s hard to predict when the Canadian economy will rebound from the huge Alberta wildfire that destroyed communities and forced the shut down of crucial oil operations. For Poloz, part of

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Insurance Institute of Canada issues “call to action” on driverless vehicles

May 5, 2016 by Canadian Underwriter

Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday

News Mergers and Aqcuisitions

Barry Penner named new chair of ICBC’s Board of Directors

March 23, 2016 by Canadian Underwriter

Barry Penner, QC brings his legal skills and considerable experience with the Government of British Columbia – including as the province’ longest-serving environment minister – to his new duties as chair of the Insurance Corporation of B.C.’s (ICBC) Board of