Keyword
Risk
Balance crucial for capital requirements on earthquake, OSFI superintendent Rudin says at NICC
September 30, 2016 Angela Stelmakowich, EditorVANCOUVER – Capital requirements could always be increased to cover an extreme event, such as a huge earthquake in British Columbia, but a balance must be struck, Jeremy Rudin, superintendent of the Office of the Superintendent of Financial Institutions (OSFI),…
Gloomy outlook for offshore energy insurance sector: IUMI
September 21, 2016 by Canadian UnderwriterThe offshore energy sector is facing a series of significant challenges in the wake of a falling premium base and increased volatility, cautions the chairman of the International Union of Marine Insurance’s (IUMI) offshore energy committee. “We have not witnessed…
Two-thirds of U.K. polled firms not assessing financial impact of a cyber attack: Marsh
September 19, 2016 by Canadian UnderwriterAlmost two-thirds of surveyed large and medium-sized organizations in the United Kingdom do not conduct or estimate the financial impact of a cyber attack, notes a new report issued Monday by Marsh. Despite a 56% rise in boardroom ownership of…
Commercial insurers in Canada face challenges, opportunities: Kadow
September 12, 2016 Angela Stelmakowich, EditorCALGARY — Current trends around ownership of brokers by insurers is “basically leaving the mid- to large end of the commercial market to fight over,” Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty Americas (AGCS), said in…
Fears of further personal information exposure following cyberattack would prevent some consumers from shopping at breached retailer: study
August 23, 2016 by Canadian UnderwriterFears of further exposure of personal information following a cyberattack would prevent 33% of consumers from shopping at a breached retailer for at least three months, according to a recent survey from KPMG LLP, the audit, tax and advisory firm.…
Catastrophe bond issuance slowed during second quarter of 2016: Aon Securities
July 21, 2016 by Canadian UnderwriterFollowing a record breaking first quarter issuance of US$2.22 billion, catastrophe bond issuance for the second quarter of 2016 stood at US$800 across five transactions – a relatively low figure during a historically active quarter, Aon Securities said on Thursday.…
Posting vacation plans, pictures could put polled Quebecers’ home security at risk: Allstate Canada
July 18, 2016 by Canadian UnderwriterInforming everyone via social media just how great a vacation is or is going to be could be putting Canadians’ largest investments – their homes – at risk of breaches in home security, notes a new survey issued Monday by…
Companies need to come clean about climate change risk, Mark Carney says
July 15, 2016 Colin Perkel - THE CANADIAN PRESSTORONTO – Only about one-third of the world’s 1,000 largest companies provide effective disclosure of the risks they face due to climate change, Bank of England Governor Mark Carney said Friday. Lack of full disclosure, Carney said, makes it difficult…
XL Catlin sponsors deep ocean survey to better understand climate change impacts
July 6, 2016 by Canadian UnderwriterXL Catlin will sponsor a new scientific survey to research the deep ocean, information from which will hopefully shed light on the potential impact of climate change and the risks that businesses, society and ecosystems will face in future. The…
Flood Risk Canada launches digital platform to help make flood zone determinations
June 30, 2016 by Canadian UnderwriterFlood Risk Canada, Inc. Wednesday announced the availability of a new digital platform that seeks to provide accurate and fast flood zone determinations for the properties in Canada. The launch of www.floodzone.ca is meant to help meet the need for…
Executives want insurance decision-making to be faster: PwC report
June 29, 2016 by Canadian UnderwriterExecutives want decision-making to be faster, especially in insurance, banking and healthcare, according to a report released earlier this week by PricewaterhouseCoopers (PwC). The 2016 Big Decision Survey, released on Monday, focused on how enterprises around the world, including Canada,…
Cyber security enters U.S. manufacturers’ Top 10 risks: BDO
June 22, 2016 by Canadian UnderwriterCyber security now ranks among the Top 10 risk factors of manufacturers south of the border, notes a report issued Tuesday by accounting and consulting organization BDO USA, LLP. The lion’s share of manufacturers in the United States analyzed in…