Keyword
United States
Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS
October 21, 2016 by Canadian UnderwriterRMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years…
Canada fourth largest cyber security hub in world, Ontario has potential to assume leading role
October 19, 2016 by Canadian UnderwriterMore investment and co-ordination is needed if Ontario – which offers strengths in financial services and technology – is to realize its potential to assume a more dominant leadership role in cyber security, notes a new report issued Thursday. Commissioned…
Hurricane Matthew damage significant, but manageable, for U.S. insurers: A.M. Best
October 18, 2016 by Canadian UnderwriterMost insurance carriers rated by A.M. Best have sufficient capital and appropriate reinsurance programs to effectively absorb Hurricane Matthew losses, notes a new briefing from the rating agency. That being the case, A.M. Best reports it does not anticipate a…
Seven in 10 polled organizations expect to do away with passwords within five years: U.S. survey
October 14, 2016 by Canadian UnderwriterReliance on largely ineffective traditional authentication techniques is building as efforts to do away with passwords – cited by 69% of polled respondents in the United States – is ebbing, note new survey results from SecureAuth Corporation. Commissioned in conjunction…
Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR
October 13, 2016 by Canadian UnderwriterModelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean…
Business interruption payouts should be based on historic results even in post-disaster economy: AEIC speaker
October 11, 2016 by Angela StelmakowichThe Fort McMurray wildfire will likely raise questions about the basis for business interruption (BI) insurance payouts in a post-catastrophe economy, but historic results are the best indication of what otherwise would have occurred, Emily Stock argued during the 43rd…
U.S. insurers failing to deliver on digital customer experience: study
October 6, 2016 by Canadian UnderwriterInsurers in the United States could only answer 28% of queries across digital channels and 14% of companies failed to respond successfully on either email, social media or chat, according to new research from multichannel customer engagement software provider Eptica.…
Use of comparison sites to buy auto, home insurance developing, but trailing in Canada and the U.S.: Finaccord
October 6, 2016 by Canadian UnderwriterThe use of comparison sites to buy auto and home insurance is developing rapidly, but continues to trail in Canada and the United States relative to the United Kingdom and continental Europe, according to new consumer research from Finaccord. On…
Cat bond issuance so far in 2016 down 15% compared to same period in 2015, Fort Mac reviving talk about unmodelled risks: PCS
October 5, 2016 by Canadian UnderwriterYear-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The…
88% of U.S. state and local government IT professionals concerned about cyberattacks targeting critical city infrastructure: study
September 23, 2016 by Canadian UnderwriterAlmost nine in 10 state and local government IT professionals in the United States are concerned about cyberattacks targeting critical city infrastructure, according to a study conducted on behalf of Tripwire, Inc., a provider of security, compliance and IT operations…
Ironshore adds crisis management endorsement, active shooter extension in U.S.
September 23, 2016 by Canadian UnderwriterIronshore 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…
Paris climate change agreement passes key threshold
September 21, 2016 Michael Astor - THE ASSOCIATED PRESSThirty-one countries formally joined the Paris climate change pact Wednesday, bringing the total number of countries ratifying the treaty to 60 and raising hopes that it will enter into effect by the end of the year. The number is higher…