Risk

CNA Financial appoints Dino Robusto as chairman and CEO; Thomas Motamed to retire at end of 2016

CNA Financial Corporation announced on Monday the appointment of Dino E. Robusto as its chairman and chief executive officer effective “on or about Dec. 1, 2016.” Robusto will succeed Thomas F. Motamed, who has decided to retire at the end of 2016, and who has served in that role since 2009. Motamed will continue as […]

By Canadian Underwriter | November 17, 2015

2 min read

Risk

Security, protecting property not top of mind for some U.S. homeowners: Allstate

Visions of sugar-plums – not thoughts of how best to protect property – seem to be dancing in the heads of more than a third of polled homeowners in the United States as the festive season approaches, suggests a new survey from Allstate. Released Tuesday, the third annual Allstate Holiday Home Hazards poll reveals a […]

By Canadian Underwriter | November 17, 2015

4 min read

Risk

More than one-third of global organizations still lack confidence in detecting sophisticated cyberattacks: EY survey

More than one-third (36%) of global organizations still lack confidence in their ability to detect sophisticated cyberattacks, according to Ernst & Young’s (EY) annual Global Information Security Survey 2015, released last week. The survey, titled Creating trust in the digital world, included participants from 1,755 organizations in 67 countries. Chief information officers, chief information security […]

By Canadian Underwriter | November 16, 2015

2 min read

Risk

Report reinforces correlation between risk management, financial success of businesses: Aon

Reinforcing the direct relationship between strong risk management practices and superior operating performance for organizations, a report released Thursday by Aon Global Risk Consulting further identifies three key factors to help organizations boost risk maturity. “Our data confirms that organizations that successfully focus on improving this set of distinct risk-related factors, as well as utilize […]

By Canadian Underwriter | November 13, 2015

3 min read

New products biggest growth opportunity for (re)insurers in 2016: Guy Carpenter

New products represent the biggest growth opportunity for (re)insurers in 2016, according to a survey released on Thursday by Guy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies. For the fourth annual survey, Guy Carpenter polled 110 insurance and reinsurance executives at the 2015 […]

2 min read

Echelon Financial Holdings reports $3.7 million net loss for 2015 Q3 compared to $5.5 million net income in prior-year quarter

Echelon Financial Holdings Inc. (EFH) has reported a net loss of $3.7 million for the three months ended Sept. 30, 2015 compared to net income of $5.5 million – a 167% decrease – for the same quarter in 2014. For the first nine months of 2015, EFH is still on the plus side, posting a […]

4 min read

“Uberization” trend dominant concern of the C-suite: IBM study

The trend of “uberization” – or industry disruption caused by an unlikely competitor – has become a dominant concern of the C-suite, finds a new IBM study released this week. The study, titled Redefining Boundaries: Insights from the Global C-suite Study, is based on findings from more than 5,200 “CxOs”: CEOs, chief marketing officers, chief […]

2 min read

Study finds nearly half of 100 U.S. corporations surveyed have already filed an insurance claim as a result of a data breach

A recent Wells Fargo study of 100 middle market companies and large corporations in the United States has found that 85% of respondents have purchased cybersecurity and data privacy insurance coverage to protect against financial loss, while nearly half (44%) have already filed an insurance claim as a result of a breach. For almost half […]

3 min read

P&C premiums up 17%, combined ratio improves 0.8 points for SCOR

Despite a 28 million euro onshore energy claim, a massive explosion in the Chinese port of Tianjin and a major earthquake hitting Chile, French reinsurer SCOR SE reported Wednesday its third-quarter combined ratio improved nearly a point from 2014. Paris-based SCOR released Wednesday its financial results, reporting gross written premiums, in property & casualty, of […]

3 min read

Arthur J. Gallagher acquires B.C. retail broker Christie-Phoenix (Victoria) Ltd.

Arthur J. Gallagher — the international broking division of Arthur J. Gallagher & Co. (AJG) outside of the United States — announced on Tuesday that it has acquired British Columbia retail insurance broker Christie-Phoenix (Victoria) Ltd. and its affiliate Discovery Insurance Services Ltd. Terms of the transaction were not disclosed. Founded more than 40 years […]

3 min read