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Cyber-related disruption as business advantage developing in manufacturing sector: Verizon

June 30, 2017 by Angela Stelmakowich

Manufacturing is witnessing a significant hike in internal cyber threat actors linked to nation state schemes to disrupt operations and allow chosen businesses to gain competitive advantage and market share, David Ostertag, global investigation manager for Verizon’s investigative response unit,

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Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One

June 28, 2017 Disruption

There 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.

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesReinsuranceTechnology

New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution

June 27, 2017 by Canadian Underwriter

New Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentTechnology

Majority of global financial institutions to ramp up transformation initiatives over next year, Accenture survey finds

June 26, 2017 by Canadian Underwriter

An Accenture survey of nearly 800 financial services executives across Europe, Asia and North America found that more than half of financial institutions plan to increase their investments in major corporate transformation initiatives, or “change programs,” over the next 12

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsProductsReinsuranceTechnology

AIR Worldwide releases probabilistic crop hail model for Canada

June 26, 2017 by Canadian Underwriter

AIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available

News InsuranceMarkets / CoveragesTechnology

U.S. company launches cloud for insurance, brings drone platform to p&c sector

June 22, 2017 by Canadian Underwriter

California-based Kespry is moving deeper into vertical markets with its formal entry into the insurance sector south of the border. The move follows extensive field tests and insurance-specific improvements designed together with customers and industry leaders, reports the aerial intelligence

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far

June 19, 2017 by Canadian Underwriter

The two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions

Feature AssociationsTechnology

Customer-Centred

June 13, 2017 Greg Meckbach, Associate Editor

Doug Reevey, outgoing chair of the Automotive Industries Association of Canada and owner of a repair facility wants consumers to have a choice of where to send their telematics data.

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More drone activity anticipated, safety-first approach essential: SCOR newsletter

June 9, 2017 by Canadian Underwriter

An agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical

News CatastrophesInsuranceMarkets / CoveragesProducts

RMS updates North America quake models for U.S., Canada and Mexico

June 9, 2017 by Canadian Underwriter

RMS’s latest North America earthquake models – covering the United States, Canada, and Mexico – are designed to help company clients manage their risk accumulations with more confidence and help with underwriting a better book of business. Version 17.0 benefits

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review

News InsuranceMergers and Aqcuisitions

The Co-operators announces acquisition of Assurance Auclair in Quebec

June 5, 2017 by Canadian Underwriter

The Co-operators General Insurance Company is looking to further enhance its distribution system in Quebec with the acquisition of Assurance Auclair. The portfolio of the brokerage in Quebec City includes personal and commercial insurance policies, notes a statement Monday from