Canadian Underwriter


News InsuranceMergers and AqcuisitionsTechnology

Ransomware attacks quadrupled in 2016, projected to double again in 2017: Beazley

January 26, 2017 by Canadian Underwriter

Beazley, a provider of data breach response insurance, said in a report on Thursday that ransomware attacks quadrupled in 2016 and they are projected to double again in 2017. Beazley released its Beazley Breach Insights – January 2017 findings based

Feature Claims CanadaInsurance

Recent High Profile Cyber Breaches

January 20, 2017 by

Casino Rama, Ashley Madison and Yahoo are among the organizations recently hit by cyber breaches

News InsuranceMarkets / CoveragesTechnology

Quebec online gaming vendor facing class-action shareholders lawsuit must disclose liability insurance policies: Court

January 17, 2017 by Canadian Underwriter

A Pointe-Claire, Québec-based online gaming company, whose former chief executive officer is facing insider trading charges, has been ordered to provide its general liability, errors and omissions, and directors’ and officers’ liability insurance policies to shareholders who are suing the

News InsuranceLegalLegislation / Regulation

Alberta Energy Resources Conservation Board immune from $50,000 lawsuit alleging Charter rights violations: Supreme Court

January 16, 2017 by Canadian Underwriter

Laws that shield quasi-judicial decision makers and public inquiry officials from personal damages claims are meant to protect their impartiality, a Supreme Court of Canada judge suggested in a ruling released Friday. Jessica Ernst sought a remedy of $50,000 from

News Climate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Canada’s energy, utilities sectors should beef up climate change competency: report

January 13, 2017 by Canadian Underwriter

Companies in Canada’s most carbon-intensive sectors are not demonstrating “climate competency” in the boardroom and should be doing so to address climate change issues, suggests a report this week by Shareholder Association for Research & Education (SHARE). “Investors are increasingly

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Fiat Chrysler Automobiles receives notice of violation for alleged failure to disclose software that increases air pollution from vehicles

January 13, 2017 by Canadian Underwriter

The U.S. Environmental Protection Agency (EPA) announced on Thursday that it has issued a notice of violation to Fiat Chrysler Automobiles N.V. and FCA US LLC (collectively FCA) for allegedly failing to disclose software that increases air pollution from vehicles.

News InsuranceLegalMergers and AqcuisitionsTechnology

Yahoo suffers world’s biggest hack affecting one billion users

December 15, 2016 Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO – Yahoo has discovered a 3-year-old security breach that enabled a hacker to compromise more than 1 billion user accounts, breaking the company’s own humiliating record for the biggest security breach in history. The digital heist disclosed Wednesday

News Climate ChangeEarnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentReinsurance

Swiss Re adopts climate-related financial disclosure recommendations

December 14, 2016 by Canadian Underwriter

Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Swiss Re helped develop the voluntary guidelines on climate risk reporting and is a member of the

News InsuranceLegalLegislation / Regulation

Alberta privacy commissioner cannot compel production of records subject to solicitor-client privilege: Supreme Court

December 5, 2016 by Canadian Underwriter

A constructive dismissal lawsuit, against the University of Calgary, has led to a ruling from the Supreme Court of Canada that Alberta’s Freedom of Information and Protection of Privacy Act does not require a public body turn over records –

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Litigation privilege ‘can be asserted’ against administrative investigators, Supreme Court of Canada finds in ruling in favour of Aviva

November 28, 2016 by Canadian Underwriter

An insurer in Quebec can assert litigation privilege when the province’s self-regulating body for agents, brokers and claims adjusters demands a copy of an entire file on a claim, the Supreme Court of Canada suggested in a ruling released this

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing

News InsuranceLegalTechnology

Mandatory breach notification in Canada has ‘potential to effectively cause’ class-action lawsuits: PCUC speaker

November 25, 2016 Greg Meckbach, Associate Editor

Impending changes to Canada’s Personal Information Protection and Electronic Documents (PIPEDA) could “effectively cause more class-action” lawsuits down the road because companies will be required to report information security breaches that pose “a real risk of significant harm,” a lawyer