Keyword
risk management
RIMS supports charity in its fight against childhood cancer
April 23, 2017 Angela StelmakowichPHILADELPHIA – RIMS, the risk management society, has announced that Alex’s Lemonade Stand Foundation (ALSF) is the beneficiary of the society’s 2017 Community Service Day Project, sponsored by ESIS. The project, which this year focuses on combating childhood cancer, is…
BlackBerry expanding channels of distribution via cyber security initiative with Allied World
April 21, 2017 by Canadian UnderwriterOntario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an…
Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs
April 20, 2017 by Canadian UnderwriterIntact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated…
Carriers should more fully explore potential in episodic insurance, CIAA event hears
April 17, 2017 by Angela StelmakowichInsurance carriers need to more seriously consider the potential that exists in episodic insurance and how such an approach could alter offerings, Mukul Ahuja, leader of insurance strategy and innovation at Deloitte Canada, suggested Thursday. “Not nearly enough carriers are…
Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers
April 12, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as…
Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron
April 7, 2017 by Angela StelmakowichWhen talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day…
RMS releases new class of cyber-physical risk modelling for property insurers
April 6, 2017 by Canadian UnderwriterRMS 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…
School of Thought
April 1, 2017 Dawn H. Puro, Senior Vice President, Specialty Casualty, Public Entity Lines, Ironshore; and Victor Ip, Vice President, Specialty Casualty, Ironshore CanadaRisks associated with higher education institutions are many, ranging from targeted violence to indiscriminate severe weather. Whether planned or not, both types of events demand a well-conceived emergency response be available.
Long-term data strategy will allow for making the most of the information: OMIA’s Taylor
March 31, 2017 by Angela StelmakowichMutual insurers need a long-term plan to ensure they meet the twin goals of capitalizing on the opportunities that data offers and continue to staying true to serving customers, the head of the Ontario Mutual Insurance Association (OMIA) suggested Thursday.…
Larger liability claims expected to become more expensive, complex: AGCS
March 30, 2017 by Canadian UnderwriterThere is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,…
Risk management overhaul necessary for cities to become more resilient to catastrophic events: report
March 27, 2017 by Canadian UnderwriterOfficials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a…
Landmark federal investments for disaster-proofing communities, enhancing resilience: IBC
March 23, 2017 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has voiced the property and casualty industry’s strong support for the federal government’s move to beef up investments aimed at enhancing resilience by better disaster-proofing communities. As part of the 2017 Federal Budget tabled Wednesday,…