Keyword
United States
Flood insurance reform bill re-tabled in U.S. congress
March 8, 2017 by Canadian UnderwriterA bill aimed at increasing participation by the private sector in the flood insurance market in the United States was tabled Wednesday in the House of Representatives, a U.S. congressman from Florida announced. The Flood Insurance Market Parity and Modernization…
Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield
March 8, 2017 by Canadian UnderwriterProlific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global…
Most recent Canadian, U.S. actuarial index values reflect continued high frequencies of extreme weather events
March 7, 2017 by Canadian UnderwriterOrganizations representing the actuarial profession in Canada and the United States have reported an Actuaries Climate Index (ACI) value for the summer of 2016 of 1.72, the third-highest seasonal level recorded. On Tuesday, the four organizations representing actuaries in the…
2016 insured losses for Canadian cats reached about $4.9 billion last year – 10 times more severe than 2015: PCS
March 7, 2017 by Canadian UnderwriterInsured losses from catastrophe events in Canada reached about $4.9 billion last year, nearly 10 times more severe than 2015, the quietest Canadian catastrophe year on record, according to Property Claim Services’ (PCS) full-year 2016 review. In 2016, PCS designated…
Global market for autonomous, assistive safety and comfort vehicle features up to US$26 billion annually by 2025: Bain & Company
March 7, 2017 by Canadian UnderwriterAutonomous vehicles are revving up, with Bain & Company Inc. forecasting annual growth of 12% to 14% for the global market of autonomous and assistive safety and comfort features by 2025. That translates to a global B2B market of US$22…
Location, Inc. launches predictive crime analytics for Canadian market
March 3, 2017 by Canadian UnderwriterA Worchester, Mass.-based location-based data provider has launched “the highest resolution crime analytics available in Canada,” providing exclusive United States-Canadian total, violent and property crime comparisons. Dr. Andrew Schiller, CEO and founder of Location, Inc. said in a press release…
CFC Underwriting increases limits across transaction liability product suite to up to US$50 million in North America
March 2, 2017 by Canadian UnderwriterLondon, United Kingdom-based specialist lines underwriting agency, CFC Underwriting, announced on Thursday that it has increased the available limits of its transaction liability insurance product suite across all territories. CFC now has the capacity to offer limits up to US$50…
XL Catlin to add kidnap, ransom and extortion insurance to aviation policy
February 27, 2017 by Canadian UnderwriterXL Group Ltd. announced Monday it plans to offer a kidnap, ransom and extortion endorsement on its general aviation coverage. That coverage “will be available on an admitted basis” in all 50 states of the United States, pending approval, said…
Global organizations will spend US$1.2 trillion on “digital transformation technologies” in 2017: International Data Corporation
February 24, 2017 by Canadian UnderwriterGlobal organizations will spend US$1.2 trillion on digital transformation this year, with the fastest growth coming from insurance, banking, retail and healthcare providers, International Data Corporation (IDC) said on Thursday. A new update to IDC’s Worldwide Digital Transformation Spending Guide…
Half of all phishing attacks in 2016 aimed at stealing money: Kaspersky analysis
February 22, 2017 by Canadian UnderwriterAlmost half of all phishing attacks registered in 2016 by Kaspersky Lab were aimed at stealing victims’ money, the cybersecurity company reported on Wednesday. According to the Financial Cyberthreats in 2016 report, 47.48% of all phishing attacks – fraudulent email…
Global spending on worldwide cloud services and infrastructure to reach US$122.5 billion in 2017: International Data Corporation
February 21, 2017 by Canadian UnderwriterWorldwide spending on public cloud services and infrastructure will reach US$122.5 billion in 2017, an increase of 24.4% over 2016, suggested new research from Framingham, Mass.-based International Data Corporation (IDC). The new update to the IDC’s Worldwide Semiannual Public Cloud…
One in four U.S. consumers victim of healthcare data breach: Accenture
February 21, 2017 by Canadian UnderwriterJust over one in four consumers (26%) in the United States have had their personal medical information stolen from technology systems, according to results of a survey from Accenture released on Monday. The findings related to the U.S. portion of…