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…
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…
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…
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…
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…
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…
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,…
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.…
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…
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,…
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…
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…