Keyword
liability
U.S. D&O insurance pricing pressure to dampen performance: Fitch
April 13, 2016 by Canadian UnderwriterMarket conditions are evolving in the directors’ and officers’ (D&O) liability insurance market in the United States, with merger and acquisition activity in 2015 facilitating greater market concentration, according to a new report from Fitch Ratings. The report, titled U.S.…
ISO to collect cyber insurance data to help mitigate risk related to cyberattacks
April 6, 2016 by Canadian UnderwriterISO, a Verisk Analytics business, announced on Wednesday that it will collect, aggregate and analyze cyber insurance data to help address a major issue facing today’s cyber insurance market: the need for more detailed underwriting and rating information. ISO said…
Renfrew, Ontario tenant with obligation to insure cannot sue landlord over fire: Appeal court
April 6, 2016 by Canadian UnderwriterThe Court of Appeal for Ontario has ruled against a tenant who was obliged under its lease to obtain property insurance, and tried to sue its landlord after a fire destroyed a Renfrew, Ontario building. In a decision released Monday,…
Third-party service providers can be ‘hornets nest’ in cyber security: ICRMC speaker
April 2, 2016 Greg Meckbach, Associate EditorContracts with information technology service providers can be critical in managing risk from cyber incidents, and third-party providers need to be involved in exercising contingency plans for cyber breaches, speakers suggested Friday at the 2016 International Cyber Risk Management Conference…
Things to Consider
April 1, 2016 Brian Rosenbaum, Senior Vice President, Financial Services Group,and National Director, Legal and Research Practice, Aon Reed Stenhouse Inc.The Internet of Things brings with it both risks and rewards. But given the exclusions and wording issues in a number of policies, coupled with the paucity of judicial analysis, policyholders should not assume that coverage is available in the event of an IoT-related loss.
Construction contractors who subcontract design work could take on more E&O liability risk: Chubb
March 31, 2016 by Greg MeckbachConstruction contractors involved in design-build projects take on additional professional liability exposure, while building information modelling software and employees storing data on wireless mobile devices can create cyber liability exposure, Chubb Ltd. suggests in a paper released Thursday. “Under the…
ISO introduces drone insurance coverage options for commercial inland marine market
March 28, 2016 by Canadian UnderwriterISO announced on Monday that it is preparing for the “potential rise and fall of commercial drones” with new inland marine insurance forms to help protect businesses from the costs of such potential crashes, including damage to the drones, their…
Changing the Environment
March 22, 2016 Emily Atkins, EditorPieter Heydenrych is set to adjust environmental claims and move the social needle as well
Tech Threat
March 1, 2016 Greg Meckbach, Associate EditorRansomware and malware disguised as advertising tools for web browsers are just some of the computer security threats that can trigger losses. Experts advise organizations, especially those with sensitive data, to educate their non-technical staff on defending against threats from cyberspace.
Making Adjustments
March 1, 2016 Angela Stelmakowich and Greg MeckbachToronto recently played host to the Canadian Insurance Claims Managers Association (CICMA)/Canadian Independent Adjusters’ Association (CIAA) Ontario Chapter Joint Conference and the Ontario Insurance Adjusters Association’s 2016 Professional Development and Claims Conference. New and emerging trends were on offer, from cyber security to drones, smart homes and adjuster training.