The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view,…
CALGARY — Darius Delon, chair of the RIMS Canada Council, had a very simple message for those attending the annual conference in Calgary Monday: every organization can be hit by disaster, so every organization needs to be resilient. Scenario brainstorming,…
The global banking, financial services and insurance (BFSI) security market is estimated to grow to nearly US$50 billion by 2021, driven by regulatory, security and cyber factors. Market research firm MarketsandMarkets said in a report released Thursday that the BFSI…
It would be folly to think that political risk is something that only happens “over there.” The effects over here can be just as damaging. That the number of such incidents may not be as high as has traditionally been…
Additional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,…
A severe storm that swept through southern Alberta and Saskatchewan in the third week of July has prompted an insured damage estimate of almost $65 million, reports Insurance Bureau of Canada (IBC), based on figures provided by Catastrophe Indices and…
Saskatchewan Government Insurance (SGI) will have in place facial recognition software when issuing driver licences and photo identification cards come Aug. 24, a move the insurer maintains will help combat fraud and bolster road safety. Customers will not notice anything…
American International Group, Inc. has entered into an agreement to sell its 100% interest in United Guaranty Corporation (UGC) to Arch Capital Group Ltd. for US$3.4 billion, a move in line with AIG’s continuing efforts to streamline operations and better…
Hannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at…
The global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the…
The Travelers Companies Inc. reported Thursday its combined ratio deteriorated 2.3 points, it renewed July 1 a property catastrophe reinsurance contract for Canada covering losses between $200 and $600 million (plus 50% of losses over $100 million), and that it…
Insurance claims adjusters need the trust of their policyholders