The increased security threat from cyber and data privacy breaches is the number one risk on the minds of executives in the global transportation industry, according to a new report released on Monday by Willis Towers Watson (WTW). Willis Towers…
British Columbia’s Ministry of Transportation and Infrastructure is reminding motorists that “winter weather is just around the corner” and that the province’s winter tire rules come into effect on Oct. 1. The rules mean that drivers will be required to…
Almost two-thirds of surveyed large and medium-sized organizations in the United Kingdom do not conduct or estimate the financial impact of a cyber attack, notes a new report issued Monday by Marsh. Despite a 56% rise in boardroom ownership of…
CALGARY — Current trends around ownership of brokers by insurers is “basically leaving the mid- to large end of the commercial market to fight over,” Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty Americas (AGCS), said in…
The recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial…
Many mid-sized firms may lack adequate insurance, continuity planning, risk management and civil infrastructure support to prepare for and recover from large-scale natural disasters, suggests a new report from Assurex Global, a privately-held commercial insurance, risk management and employee benefits…
Business Interruption & Civil Authority Coverage Issues with the Fort McMurray, Alberta wildfire
One of the biggest threats to a company’s supply chain cannot even been seen, but surely will be felt should it take hold, Nexbridge Inc.’s Randall Becker suggested Wednesday during the World Conference on Disaster Management in Toronto. Practical drift,…
Rather than stealing data, cyberattacks against critical infrastructure and manufacturers are more likely to target industrial control systems (ICS) to manipulate or shut down operations, Allianz Global Corporate & Specialty (AGCS) said on Wednesday. As energy, transportation or telecommunication companies,…
WASHINGTON, D.C. — The United States Homeland Security Department on Thursday formally began sharing details of new digital threats with private business and other government agencies, a culmination of a longtime effort to improve cybersecurity. “This is the ‘if you…
Toronto-based Northbridge Insurance had a combined ratio of 91.8% in 2015, down 3.7 points from 95.5% in 2014, while net premiums written for OdysseyRe dropped 12.7%, from US$2.4 billion in 2014 to US$2.095 billion in 2015, the carriers’ corporate parent…
3D printing is hardly new, but recent rapid development and seemingly endless potential uses has freshened consideration of the technology. Enhanced access and broadened applications, though, bring with them talk of additional risks and whether or not existing property and casualty insurance policies are sufficient to address how 3D printing technology could evolve in future.