NEW YORK – It happens in so many workplaces – two colleagues begin a romantic relationship. But a heightened awareness about sexual harassment means small business owners can get more anxious when employees start dating. Many owners have consulted with…
New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has…
A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.…
Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the…
A lot more convergence in cyber insurance policies is expected within the next few years as policies, exclusions and wording get tested and case law develops, John Elbl suggested Wednesday during a panel discussion at MSA Research Inc.’s Canadian Insurance…
The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying…
The frequency of insurance claims related to mergers and acquisitions (M&A) is rising as large deals prove risky and the average payout on the most severe category of claims tops US$20 million, according to a new global study from American…
Autonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian…
RMS has expanded its range of cyber models to include a new class of so-called cyber-physical models in a bid to answer the increasing related risk of insurance losses from hackers targeting control systems linked to the Internet. These cyber-physical…
The use of comparison sites to buy auto and home insurance is developing rapidly, but continues to trail in Canada and the United States relative to the United Kingdom and continental Europe, according to new consumer research from Finaccord. On…
The Ontario Municipal Insurance Exchange (OMEX) announced on Thursday that it will suspend Reciprocal underwriting operations effective immediately “to allow it time to fully assess the needs of Ontario municipalities with a view to redesigning its products to better service…