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Canadian risk beginning to feature “fairly prominently” in cat bond market: PCS

January 4, 2017 by Canadian Underwriter

Canadian risk has begun to feature “fairly prominently” in the catastrophe bond market, with three cat bonds issued last year, according to Property Claim Services’ (PCS) full-year cat bond report for 2016. The report, titled Strong Finish: PCS FY2016 Catastrophe

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Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm

January 3, 2017 by Canadian Underwriter

Catastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition

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Evolving technology expected to introduce new cyber threats, broadened attacks: Trend Micro

December 7, 2016 by Canadian Underwriter

The coming year is expected to witness evolving technology that introduces new cyber threats and attacks that broaden and differentiate to penetrate new vulnerable surfaces, suggests a report issued Wednesday by Trend Micro Incorporated. The expectation is 2017 “will include

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IBC’s top 10 stolen vehicles list for 2016 shows 6% increase in auto theft over 2015

December 6, 2016 by Canadian Underwriter

The road to improving auto theft numbers has taken a negative turn for the second year in a row, increasing 6% nationally in 2016 over 2015, Insurance Bureau of Canada (IBC) reports in its newly released Top 10 Most Frequently

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Unexpected threats should be a concern to SMEs in U.K.: RSA

December 2, 2016 by Canadian Underwriter

More than a quarter of polled small and medium-sized enterprises (SMEs) in the United Kingdom reported being hit with an unexpected £50,000 bill would put them out of business, notes a new report released this week by RSA. And while

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Some increased risks developing in surety space, but these can be managed: panel

November 14, 2016 by Angela Stelmakowich

The outlook for surety in Canada is healthy, but a number of developments are introducing increased risk that need to be taken into account and properly managed, speakers suggested during the Toronto Risk and Insurance Education Forum last week in

News InsuranceProfessional DevelopmentReinsuranceTechnology

Ed launches global cyber academy

November 4, 2016 by Canadian Underwriter

Ed, the global reinsurance, wholesale and specialty broker, announced on Friday the launch of what it is calling the insurance industry’s first global cyber academy. The Ed Cyber Academy, which will be led by Peter Hacker, the company’s group chief innovation officer,

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Risk and insurance revenue up 3% at Marsh & McLennan

October 26, 2016 by Canadian Underwriter

Marsh & McLennan Companies Inc. announced Tuesday its risk and insurance revenue rose 3%, year over year, for the third quarter. New York City-based Marsh & McLennan owns brokerage Marsh Inc. and Guy Carpenter & Company LLC, among other subsidiaries.

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Organizations must focus more on people, not just technology, to combat privacy breaches: lawyer

October 26, 2016 by Angela Stelmakowich

The people component of privacy breaches is critically important, demanding greater focus going forward in light of an environment where both related individual and class actions are on the rise, Patrick Hawkins, a partner with Borden Ladner Gervais LLP suggested

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Insurance industry must work to reduce protection gap, burden on governments

October 25, 2016 by Canadian Underwriter

The insurance industry needs to capitalize on its unique risk understanding to reduce the financial burden on governments in light of “the daunting scale of the protection gap,” Nick Frankland, CEO of EMEA operations for Guy Carpenter & Company, LLC,

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Adoption of smart contracts to decrease risks and costs, increase efficiencies: Capgemini

October 11, 2016 by Angela Stelmakowich

Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini

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Cyber and data privacy breaches top risk for global transportation industry executives: Willis Towers Watson study

October 3, 2016 by Canadian Underwriter

The increased security threat from cyber and data privacy breaches is the number one risk on the minds of executives in the global transportation industry, according to a new report released on Monday by Willis Towers Watson (WTW). Willis Towers