OTTAWA – Government and industry insiders have high expectations next week’s federal budget will contain big investments to help Canada reinforce its cybersecurity defences in an age of heightened global threats to businesses, privacy and democracy. A senior government official…
A systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told…
In many parts of the world, the constant fear of extremist attacks has led to tighter security measures at hotels and resorts, but that is less so in the United States, where hotels are reluctant to intrude on the privacy…
Northbridge Insurance had a 0.3-point in its second-quarter combined ratio, from 100% last year to 99.7% this year, while OdysseyRe’s combined ratio improved 3.9 points, the insurers’ parent firm, Fairfax Financial Holdings Ltd., reported recently. Toronto-based Northbridge Insurance had an…
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…
More than four in 10 companies surveyed for an XL Catlin-sponsored study have reported achieving positive outcomes from digital transformation investments, especially those using digital technology at all levels of operations, from supply chains and distribution networks to compliance activities…
An analysis of CEO successions at the world’s largest 2,500 public companies over the past 10 years shows a marked increase in forced turnovers for ethical lapses, although Canada is among the countries with the lowest incidence of such dismissals.…
Cyberattacks, natural disasters and supply chain failure are three of the most pressing risks to global business performance in the 21st century, according to the 2017 FM Global Resilience Index. The online, interactive annual index ranks 130 countries and territories…
Berkshire Hathaway Inc. announced Friday it recorded insurance premiums earned of $21.7 billion during the three months ending March 31 – up 95% from $11.1 billion in Q1 2016 -while Cyclone Debbie affected the Omaha, Neb.-based firm’s underwriting result by…
Allied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of…
PHILADELPHIA – Resources extraction industries are certainly not alone in facing cyber risk, but the risk of a related terrorism attack would most likely be higher later in the refining process, suggested Christof Bentele, head of global crisis management for…
PHILADELPHIA – Quantifying business interruption losses continues to be a big challenge, reported by almost six in 10 RIMS members taking part in a recent survey, but a well-conceived approach by risk managers can help to clear any hurdles. “By…