Keyword
risk management
Holistic approach needed to reduce confusion around cyber security, tackle inaction: Echols
June 15, 2017 by Canadian UnderwriterTools meant to bolster cyber security are being introduced absent a holistic view, producing even more questions among already-confused businesses expecting some progress on their individual risk reduction efforts, cyber expert Michael Echols suggested Tuesday during a symposium in downtown…
Canadian and U.S. government agencies underperform on fraud detection and reporting, study finds
June 14, 2017 by Canadian UnderwriterGovernment agencies in Canada and the United States performed significantly worse than the business sector on fraud detection and mitigation, according to a new survey from risk management software provider ACL. The 2017 Fraud Survey involved a poll of more…
Reduced market access, regulatory fragmentation and cloud risk accumulation among key industry risks: Swiss Re
June 13, 2017 by Canadian UnderwriterReduced market access, regulatory fragmentation, the return of inflation, cloud risk accumulation and emerging liability legislation for artificial intelligence are just some of the key risks for the re/insurance industry, according to Swiss Re’s 2017 SONAR report. The report, released…
Toronto considering zoning, licensing and taxation rules for short-term rental platforms
June 13, 2017 by Canadian UnderwriterThe City of Toronto will soon consider recommendations to adopt new rules for short-term rental platforms such as Airbnb – which are unregulated – to address concerns ranging from noise to safety and taxation, notes a municipal backgrounder. The Report…
More drone activity anticipated, safety-first approach essential: SCOR newsletter
June 9, 2017 by Canadian UnderwriterAn 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…
RMS updates North America quake models for U.S., Canada and Mexico
June 9, 2017 by Canadian UnderwriterRMS’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…
Use of captives for cyber liability programs increases 20% in 2016: Marsh report
June 7, 2017 by Canadian UnderwriterThe number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled…
Canadian insurance industry needs clear direction and proper framework to address marijuana legalization, industry event hears
June 2, 2017 Jason Contant, Online EditorThe insurance industry in Canada needs clear direction from governments and a proper framework to address the upcoming legalization of marijuana, attendees to an industry event heard on Thursday. “First and foremost, we do not as an industry, and cannot,…
Lack of oversight regarding security of third-party IoT implementation: survey
May 31, 2017 by Canadian UnderwriterA gap in understanding how best to mitigate and communicate risks around the Internet of Things (IoT) persists despite organizations reporting high concern about related security, notes a new report from Ponemon Institute and Shared Assessments Program. Released Wednesday, The…
Cyber insurance policies expected to become more similar in next few years: CIFF speaker
May 26, 2017 by Angela StelmakowichA 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…
Hurdles to digital transformation remain, half of respondents have formal strategy: global survey
May 24, 2017 by Canadian UnderwriterSome things seem to persist, including how inflexible IT systems, organizational silos and security concerns continue to rear their heads as obstacles to global enterprises adopting formal strategies for digital transformation. So suggests the Enterprise Digital Transformation Strategies: Turning Disruption…
Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings
May 16, 2017 by Canadian UnderwriterFitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats…