Canada’s solvency regulator is preparing guidance that legal experts say will shift the scope of the regulator’s concerns about outsourcing data and technology to a much broader inquiry about insurers’ arrangements with third parties generally — including with broker partners.…
The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,…
Eight of 10 Canadians taking part in a survey from Square One Insurance Services Inc. report not properly insuring their belongings while moving to their new homes. With more than 300,000 Canadians moving to new homes in different provinces each…
Toronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders…
Shareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas…
Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,…
Organizations considering standalone cyber coverage should carefully evaluate their risk profile and determine whether more traditional policies provide adequate coverage, suggests a newly released report from RIMS, the risk management society. The report, authored by Teri Cotton Santos, a member…
Contracts with information technology service providers can be critical in managing risk from cyber incidents, and third-party providers need to be involved in exercising contingency plans for cyber breaches, speakers suggested Friday at the 2016 International Cyber Risk Management Conference…