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Cyber attack remains top business continuity concern, preparedness for all threats urged: Horizon Scan Report

February 21, 2017 by Canadian Underwriter

Cyber attack, data breach and unplanned IT and telecom outages are the greatest concerns among business continuity professionals, concludes the sixth annual Horizon Scan Report, released Tuesday. The top three concerns remain unchanged from the last report carried out by

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Terrorism insurance gaps demand rethinking focus on property: C4 2017 speaker

February 2, 2017 by Angela Stelmakowich

Terrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and

News CatastrophesClimate ChangeInsuranceReinsuranceTechnology

Reinsurers face challenging market conditions, technology to play important role: Novarica

January 31, 2017 by Canadian Underwriter

Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake

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Terrorists following ‘path of least resistance’ as security increased: RMS

December 20, 2016 by Canadian Underwriter

More attacks from drivers ramming trucks into crowds can be expected, Risk Management Solutions (RMS) Inc. warned Tuesday, a day after 12 people were killed in Berlin. “As security is increased to meet one threat, terrorists follow the path of

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Critical infrastructure in Europe ‘currently not a priority’ for terrorists: Europol

December 2, 2016 Mike Corder - THE ASSOCIATED PRESS

THE HAGUE, Netherlands – The Islamic State group is likely to carry out new attacks in the European Union in the near future, probably targeting countries that are members of the U.S.-led coalition fighting the extremist organization in Syria and

Feature Insurance

Evolving Threat

November 6, 2016 Greg Meckbach, Associate Editor

The face of terrorism is changing, with soft targets like public areas increasingly being attacked by “lone wolves” who have been radicalized. And although related economic costs are climbing, the take-up for coverage has remained relatively flat.

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AIG quadruples global property terrorism insurance limits to $1 billion

October 26, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) announced on Wednesday that it has raised its property terrorism insurance limits globally to $1 billion. The larger capacity is available to clients on a standalone basis or as expanded limits within AIG’s Large Limits

News AssociationsInsuranceMarkets / CoveragesReinsurance

Pool Re announces launch of International Forum of Terrorism Risk (Re)Insurance Pools

October 11, 2016 by Canadian Underwriter

Pool Re, which reinsures property damage and business interruption against terrorism risk in Great Britain, announced on Monday the launch of the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP). The formation of IFTRIP is the culmination of a Pool

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Business interruption, property damage and general liability critical risks to global growth, new study finds

September 23, 2016 by Canadian Underwriter

Business interruption (BI) is the leading cause of losses for companies, multinational organizations and non-governmental organizations (NGOs) that operate outside the United States, according to a study released on Thursday by international insurance broker Clements Worldwide. The Clements Worldwide Risk

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Ironshore adds crisis management endorsement, active shooter extension in U.S.

September 23, 2016 by Canadian Underwriter

Ironshore Inc. has introduced a crisis management endorsement for all in-force, stand-alone Terrorism policies as an automatic extension so that insureds can access crisis response specialists following an act of terrorism or an active shooter event at an insured location

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Frequency of improvised explosive device attacks ‘a key statistic’ for insurers: RMS

September 19, 2016 by Canadian Underwriter

Explosions this past weekend in the Eastern United States have “implications for the modeling of terrorism risk,” Risk Management Solutions (RMS) Inc. stated Monday in a release. The Associated Press reported that an improvised explosive device (IED) exploded Saturday night

News CatastrophesInsuranceMarkets / Coverages

AIR Worldwide expands terrorism model for 28 countries, including Canada

September 12, 2016 by Canadian Underwriter

Catastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other select countries, including Canada, to help companies assess the