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Utilities cautioned to act now to strengthen their cyber security defences: Accenture

October 5, 2017 by Canadian Underwriter

Unprepared distribution utilities are urged to immediately begin improving their cyber security capabilities given the anticipated future hike in cyber attacks and the fact that most recently polled utility executives say such an attack could interrupt electricity supply, Accenture suggests

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Aviva Canada beefs up identity theft offering to protect customers

October 3, 2017 by Canadian Underwriter

Aviva Canada is marking the beginning of Cyber Security Awareness Month (October) with the announcement that it is introducing enhancements to its identity theft coverage at no additional cost to existing customers. The coverage features widespread financial protection if a

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Cyberattacks, asset bubble risks top Canadian business worries: World Economic Forum survey

September 22, 2017 by Canadian Underwriter

Cyberattacks and asset bubble risks top the list of worries for Canadian businesses, according to new survey data from the World Economic Forum (WEF). The data – released earlier this week and published by the strategic partners of WEF’s Global

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Third-party drone services developing, immediate post-incident use still a challenge

September 8, 2017 by Angela Stelmakowich

A trend seems poised to take flight whereby companies in need of drone services to gain specific insights will increasingly tap the expertise of third-party providers. “I think third-party companies who provide services utilizing drones will be more common than

News CatastrophesClaimsClimate ChangeInsuranceMergers and AqcuisitionsProfessional DevelopmentReinsuranceTechnology

Free online offering hopes to bolster catastrophe modelling understanding

September 5, 2017 by Canadian Underwriter

What has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat

News InsuranceLegislation / RegulationMarkets / Coverages

Making ICBC a co-op one option for B.C., competition must be part of any option selected: taxpayers federation

August 25, 2017 by Canadian Underwriter

The British Columbia government has options at its disposal to address auto insurance problems in the province – ranging from leaving the Insurance Corporation of B.C. (ICBC) to shuttering the insurer – but all should include reintroduction of competition, concludes a new report commissioned by the Canadian Taxpayers Federation (CTF). CTF argues that “fast and furious changes” are needed in light of the “looming 30% hike to car insurance,” a figure noted in an Ernst & Young LLP (E&Y) report made public last month. Among its many observations, the…

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AGCS expands terrorism, political violence insurance offering in the U.S.

August 24, 2017 by Canadian Underwriter

Allianz Global Corporate & Specialty (AGCS) is now providing bespoke coverage designed to protect U.S. businesses faced with loss related to terrorism and political violence both at home and overseas. Given the recent tragic events in Europe and Virginia, the

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Ironshore establishes computer emergency response team to help policyholders with cyber response

August 22, 2017 by Canadian Underwriter

New York-based Ironshore Inc. is taking steps to help manage cyber claims for all in-force policies, regardless of line, with the launch of a dedicated computer response team. Comprised of cyber claims co-ordinators representing each of the insurer’s specialty lines

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Big increase in U.K. start-ups, but insurance coverage lacking for many small businesses

August 18, 2017 by Canadian Underwriter

A new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small

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Proposed model law could beef up U.S. insurers’ cyber risk management

August 17, 2017 by Canadian Underwriter

New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has

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Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation

August 14, 2017 by Canadian Underwriter

Insurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA

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Federal justice minister seeks to beef up blood/alcohol levels for drivers

August 8, 2017 The Canadian Press (CPSTF)

OTTAWA – Federal Justice Minister Jody Wilson-Raybould is considering lowering the legal alcohol limit for licensed drivers, according to a letter she sent to her Quebec counterpart. In the correspondence to Stephanie Vallee dated on May 23, Wilson-Raybould suggests lowering