Bigger may not always be better to insure
May 3, 2018 by David GambrillSupertall structures, buildings more than 300 metres high or 90 storeys tall, are in vogue right now, raising interesting insurance challenges, according to a recent industry trends report released by the Insurance Institute of Canada. “Increasingly complex high-rise building projects…
Sedgwick team to include Albert Poon following merger with Cunningham Lindsey
April 25, 2018 by Jason ContantAlbert Poon, most recently president of Cunningham Lindsey Canada, will remain a key part of the team following Sedgwick Claims Management Services’ recent acquisition of Cunningham Lindsey, the president of the combined business operations in Canada told Canadian Underwriter Wednesday.…
Slip and fall costs supermarket chain $755,000
April 19, 2018 Greg Meckbach, Associate EditorA woman who fell in a North Vancouver supermarket after slipping in a puddle of spilled laundry soap is no longer employable and is entitled to $375,000 in compensation for loss of future capacity, a Supreme Court of British Columbia…
Who are the ‘right people’ to respond to cyber incidents?
April 19, 2018 by Greg MeckbachProperly-trained employees are critical to managing cyber risk, especially with the nation-wide breach reporting law taking effect this fall, brokers and risk consultants told insurance professionals at a recent conference. On November 1, several new sections – including one mandating…
Cyber breach: Assume your client will be hacked
April 17, 2018 by Greg MeckbachDirectors and officers do not have to be flawless in their cyber security controls but need to come up with a cyber incident response plan and practice it on a regular basis, speakers told insurance professionals at a recent conference.…
What you need to know about the evolution of ransomware
April 14, 2018 by Jason ContantBrokers need to stay on top of constantly emerging cyber threats, as cybercriminals continue to adapt their techniques, particularly around ransomware. Criminals are still very successful, says Matt Hartley, vice president of global services and intelligent engineering with cybersecurity company…
How to give your client a ‘wake-up call’ on cyber risk
April 14, 2018 by Greg MeckbachCyber insurance application forms can give companies a “good understanding” of how well prepared they are to deal with an information security-related loss, speakers said Thursday at the International Cyber Risk Management Conference in Toronto. “We have seen clients stop…
Ashley Madison may provide clue to regulations around data breach disclosure
April 12, 2018 by Jason ContantThe upcoming mandatory requirement to disclose data breaches will help address some of the anxieties that Canadians have about cybersecurity and data protection, and may prescribe some precautions that organizations can take for remediation. What would these precautions look like?…
Mandatory breach requirements effective November 1. Here’s what to do.
April 11, 2018 by Jason ContantWith mandatory breach notification requirements coming into effect on November 1, Canadian businesses will need to focus on two factors to prepare: 1) a risk assessment, and 2) determining the decision makers in the company and a breach response plan.…
Cybercriminals are infiltrating software vendors, launching supply chain attacks
April 11, 2018 by Jason ContantCybercriminals are moving into the terrain of supply chain attacks, masquerading as signed apps, and using ransomware as a distraction to steal money from the network. Each of these are “interesting new areas” that cybercriminals may exploit in the future,…
Understanding Business Interruption Losses
April 11, 2018 Jay Strano, Managing Director, Crawford Forensic Accounting ServicesPrompted by the emergence of new triggers, business interruption remains a top risk according to the 2017 Allianz Risk Barometer, which defines it as “a loss of income that could impair a company’s revenue stream and thus [trigger] a shortfall…
Where Palmer Atlantic acquisition fits into Gallagher’s growth strategy
April 9, 2018 by David GambrillGallagher has recently strengthened its focus on building national industry practices such as trucking with the acquisition of specialist commercial insurance broker Palmer Atlantic. Gallagher has identified long-haul transportation as a priority market segment, and that made Palmer Atlantic a…