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Internet fragmentation among top emerging risks for the reinsurance industry, society: Swiss Re

May 25, 2016 by Canadian Underwriter

Internet fragmentation is among the top three emerging risks – of the 21 detailed in Swiss Re’s latest SONAR report released Wednesday – with the highest potential impact on the reinsurance industry and society. “Firewalls, special software to filter out

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsProfessional Development

Corporate investigations on the rise, study suggests

May 24, 2016 by Canadian Underwriter

Corporate investigations are on the rise, with over a quarter (27%) of businesses saying they have experienced a claim or investigation involving a director of their company in the past year, up from one in five in 2014. That was

News CatastrophesInsuranceLegal

Gaps identified in readiness of Canadian boards to crisis management

May 20, 2016 by Canadian Underwriter

More diligence is required to protect board members in the wake of a crisis, suggests a new white paper prepared by Osler, Hoskin & Harcourt LLP for the Institute of Corporate Directors (ICD). Based on a survey of 400 Canadian

News CatastrophesInsuranceMergers and Aqcuisitions

As risk of farm losses rise, so too do number of farmers buying crop insurance

May 10, 2016 Ian Bickis - THE CANADIAN PRESS

CALGARY – Kelly McIntyre has tilled the soils of northwestern Alberta for more than 30 years, but only this spring did he conclude that he needed crop insurance. “There just seems to be increased risk, more risk all the time,”

News InsuranceLegislation / RegulationProfessional Development

Only a quarter of respondents say their enterprises monitor business partners at least quarterly: anti-corruption research

April 28, 2016 by Canadian Underwriter

Just 27% of the 330 respondents taking part in a recent online survey monitor business partners at least quarterly or more often, note findings from the 2016 Anti-Corruption Survey Report, released this week. Findings in the report from Dow Jones

News Insurance

Fed keeps key rate unchanged; no hint on timing of next hike

April 27, 2016 Martin Crutsinger - THE ASSOCIATED PRESS

WASHINGTON – The Federal Reserve kept a key interest rate unchanged Wednesday against the backdrop of a slowdown in U.S. and global growth and provided no hint of when its next rate hike may occur. In a statement after its

News AssociationsInsuranceLegislation / RegulationProfessional Development

OSFI staff ‘very actively engaged’ in international capital standard for insurers: Zelmer

April 20, 2016 Greg Meckbach, Associate Editor

An international capital standard for global systemically important insurers is “probably not going to have much of an impact on the Canadian p&c industry,” an official with the Office of the Superintendent of Financial Institutions suggested recently, but Canadian insurers

News AssociationsInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

UN, World Bank Group and insurance industry join forces for formation of Insurance Development Forum

April 18, 2016 by Canadian Underwriter

Leaders of the United Nations, the World Bank Group and the global insurance industry on Monday announced the formation of the Insurance Development Forum (IDF), which occurred at a high level meeting in Washington, DC, last week. The IDF has

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Business interruption due to breach top cyber risk concern for captive insurers: Aon

April 11, 2016 by Canadian Underwriter

The costs of business interruption due to a breach is the top cyber risk concern for businesses across all industries, according to Aon Global Risk Consulting’s (AGRC) 2016 Captive Cyber Survey report, released on Monday. As Aon’s first cyber captive

News AssociationsInsurance

San Diego schools, students beneficiaries of 2016 RIMS Community Service Day

April 10, 2016 Angela Stelmakowich, Editor

SAN DIEGO – Risk professionals from around the world rolled up their sleeves to use paintbrushes and other tools to provide schools in San Diego – host city of RIMS ’16: Go Beyond – with a facelift as part of

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Bleak outlook for energy insurers could lead to withdrawals from the market: Willis Towers Watson

April 5, 2016 by Canadian Underwriter

An oversupply of capital and falling demand from buyers, caused by cost-cutting in the wake of the oil price crash, is heaping pressure on insurers to the extent that they may eventually consider exiting the energy insurance market, or at

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsProfessional DevelopmentTechnology

Cyber risk data ‘not all that robust,’ Willis Re speaker tells ICRMC

April 4, 2016 Greg Meckbach, Associate Editor

Cyber insurance has evolved considerably since 1999 but commercial insurers lack standardization in cyber policies and there is not a lot of data available for underwriters, a speaker suggested at a recent conference. For cyber risk, “the data is not