Magnitude and incidences of earthquakes caused by fracking are minimal: Fraser Institute
November 2, 2015 by Canadian UnderwriterWhile hydraulic fracturing can cause increased seismic activity, the tremors generated by the process are often very small and undetectable at the earth’s surface, according to a report released last week by the Fraser Institute, a Canadian research and educational…
87% of Canadian businesses have experienced at least one hacking incident: study
October 28, 2015 by Canadian UnderwriterNearly nine in 10 (87% of) Canadian businesses have experienced at least one hacking incident in the last year – compared to 69% of businesses in the United States – according to a study of business risk managers released on…
Water scarcity creates risks for businesses, demands management: Zurich
October 14, 2015 by Canadian UnderwriterWater scarcity is leading to risks and exposures for businesses worldwide, necessitating that organizations put in place appropriate water management plans, argues a white paper issued Tuesday by Zurich Insurance. Businesses around the world are feeling the strain of water…
Canadian economy to grow in Q3, Q4 and next year, predicts Swiss Re’s chief economist
October 1, 2015 Jason Contant, Online EditorCanada could see a “moderate” 3% economic growth in the third and fourth quarters of this year and 2% next year, Swiss Re’s chief economist suggested during a presentation at the National Insurance Conference of Canada (NICC) in downtown Montreal…
Digital’s Essence
October 1, 2015 Brenda Rose , Vice President and Partner, FCA Insurance Brokers; and Technology Champion, Insurance Brokers Association of CanadaThe digital world has created unprecedented possibilities for assembling and exchanging messages. Brokers must be ready to provide “omni-channel” communication to meet customer wants on their terms in this new digital world.
Lack of understanding the overarching risk of uninitiated companies looking to seize benefits of drone use: Zurich Canada
September 28, 2015 Angela Stelmakowich, EditorThe expanding interest in drones means many companies and industries considering their use will be engaged in an aviation activity for the first time, necessitating that they have a firm grasp of associated risks before moving forward, suggests a new…
Lowes Fund Breakfast
September 23, 2015 by Canadian UnderwriterRise of the Drones The future is here. Drones, or “Unmanned Aircraft Systems”, are already affecting Canada’s insurance industry with dramatic implications. The use of drones is becoming increasingly commonplace as companies across a variety of industries take advantage of…
Profits for Canadian p&c insurance companies endure despite challenging market conditions: A.M. Best
September 15, 2015 by Canadian UnderwriterCanada’s property and casualty insurance market – faced with challenging market dynamics and unforeseen headwinds like the steep decline in global oil prices – remains resilient, prompting A.M. Best to maintain a stable rating outlook for the industry as a…
Renewed Faith
September 1, 2015 Bruno De Vita, Partner; and Hollis Bromley, Partner, Alexander Holburn Beaudin + Lang LLPTwo recent judgements in Canada indicate Canadian courts are taking a conservative approach on punitive damages in bad faith claims lawsuits against insurance companies
Pollution Liability
August 1, 2015 Greg Meckbach, Associate EditorEnvironmental clean-up can cost millions of dollars, regulators sometimes force innocent organizations and individuals to pay for remediation and general liability policies do not always cover pollution risks. To be prepared, risk managers should assume their organizations have at least some environmental exposure.
Data Mining
August 1, 2015 Bruce Sprague, Mining & Metals Leader; and Abhay Raman, Cyber Risk Leader, EY CanadaAs mining and metals firms connect more operational systems to computer networks, their vulnerability to hacking tends to increase. Yet most metals and mining firms surveyed have no formal program to detect information security breaches.
Capitalizing on Claims Data
May 31, 2015 Craig Harris, Freelance Writer|Craig Harris, Freelance WriterAfter initially focusing on underwriting and pricing, many insurance companies have expanded their view of data analytics to loss management. The claims handling process represents a rich area for data modeling tools that can provide better insight into everything from adjuster assignment and operational efficiency to fraud detection and subrogation. How does data analytics fit into the claims management process for insurers – and adjusters?