Keyword
risk management
Big increase in U.K. start-ups, but insurance coverage lacking for many small businesses
August 18, 2017 by Canadian UnderwriterA new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small…
Proposed model law could beef up U.S. insurers’ cyber risk management
August 17, 2017 by Canadian UnderwriterNew 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…
Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation
August 14, 2017 by Canadian UnderwriterInsurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
Arthur J. Gallagher gains presence in Quebec with acquisition of GPL Assurance Inc.
August 4, 2017 by Canadian UnderwriterArthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec. Terms of the transaction were not disclosed. Established…
Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1
August 4, 2017 by Canadian UnderwriterDisciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
Arthur J. Gallagher reports brokerage revenues of US$998.1 million for Q2 2017
July 31, 2017 by Canadian UnderwriterArthur J. Gallagher & Co. (AJG) has reported Brokerage revenues of US$998.1 million for the second quarter of 2017, up from US$997 million in the same quarter last year. Net earnings for the Brokerage segment for the quarter ending June…
Some seasonal small businesses have no insurance coverage heading into summer
July 27, 2017 by Canadian UnderwriterSeasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved…
Cyber work diagnostic tool to help foster a cyber-savvy workforce by making people the focus: Willis Towers Watson
July 21, 2017 by Canadian UnderwriterWillis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an…
Cyber threat landscape growing, potential for emergence of destruction of service attacks: Cisco
July 20, 2017 by Canadian UnderwriterThe potential for “destruction of service” (DeOS) attacks is greatly concerning and organizations would be well-advised to adopt a proactive cyber stance in their protection efforts to combat increasingly sophisticated attackers, warns a new report from Cisco. “Cyber incidents such…
Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks
July 20, 2017 by Canadian UnderwriterChubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts…
Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada
July 19, 2017 by Canadian UnderwriterCanadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.…