Canadian Underwriter

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Risk


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Q2 commission, fee growth flat at Willis Towers Watson

August 4, 2017 by Canadian Underwriter

Willis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic

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Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1

August 4, 2017 by Canadian Underwriter

Disciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss

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Some seasonal small businesses have no insurance coverage heading into summer

July 27, 2017 by Canadian Underwriter

Seasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved

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Cyber work diagnostic tool to help foster a cyber-savvy workforce by making people the focus: Willis Towers Watson

July 21, 2017 by Canadian Underwriter

Willis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an

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Cyber threat landscape growing, potential for emergence of destruction of service attacks: Cisco

July 20, 2017 by Canadian Underwriter

The potential for “destruction of service” (DeOS) attacks is greatly concerning and organizations would be well-advised to adopt a proactive cyber stance in their protection efforts to combat increasingly sophisticated attackers, warns a new report from Cisco. “Cyber incidents such

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Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

July 20, 2017 by Canadian Underwriter

Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts

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Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada

July 19, 2017 by Canadian Underwriter

Canadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.

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Extreme cloud attack could pack as much of a cost wallop as Hurricane Sandy

July 18, 2017 by Canadian Underwriter

A malicious hack that fells a cloud service provider for a time has the potential to produce estimated economic losses of as much as US$53 billion, in line with the hit delivered by Superstorm Sandy, suggests a new research scenario

News Technology

Accepting failure can fuel success, drive advances for companies looking to reach digital maturity: global study

July 14, 2017 by Canadian Underwriter

Trying and accepting the possibility of failure has proved an effective way for organizations to clear the aversion-to-risk hurdle and advance toward digital maturity, notes a new study from MIT Sloan Management Review and Deloitte Digital. In all, 71% of

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Property market loss estimate for Europe’s Cyclone Egon reaches 275 million euros: PERILS

July 13, 2017 by Canadian Underwriter

The latest property insurance market loss estimate for extratropical cyclone Egon, which hit parts of France and Germany in mid-January, has increased to 275 million euros, Zurich-based PERILS reported on Wednesday. Representing the third of four estimates to be issued

News CatastrophesClimate ChangeConstructionLegislation / RegulationMergers and AqcuisitionsReinsurance

Maintaining wetlands could slash riverine flooding-related damage, local pilot project has national applicability: study

July 12, 2017 by Angela Stelmakowich

Just leaving current wetlands in their natural state could cause riverine flooding-related flood damage to plummet as much as 38% and should provide the impetus for communities to view natural infrastructure as a climate adaptation solution, notes a study from

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Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re

July 11, 2017 by Angela Stelmakowich

Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the