Risk
A significant percentage of data breaches are caused by weak passwords, insecure computer network portals and lost smartphones. Policyholders should be encouraged to draft incident response plans and to contact their brokers or carriers as soon as a breach is discovered, in order to access experts such as forensic experts, legal counsel and crisis management specialists.
August 31, 2014
5 min read
The results of a recent survey suggest that providers of usage-based auto insurance need to educate clients about how the data insurers collect on driving behaviour is used, how this information will affect their rates and how telematics can improve safety while reducing claims frequency.
Until last month, personal lines insurance carriers in Ontario who were concerned about a mandated 15% reduction in auto rates could look on the bright side. At least property rates are only regulated by consumers who have a choice to shop around. However, this could change if Toronto City Council gets its way. On August […]
3 min read
1 Commercial insurance brokerage Nacora Canada announced in August the appointment of Dianna Fioravanti [1] as its new chief executive officer and managing director. Fioravanti was previously senior vice president of national sales and business development, for SCM Risk Management Services (RMS) and held various positions at Economical Insurance. Nacora, which has offices in 30 […]
4 min read
CANADIAN MARKET SCM buys Granite Global Solutions SCM Insurance Services has acquired the property and casualty businesses of Granite Global Solutions. The terms of the deal were not disclosed. The businesses acquired include Granite Claims Solutions, a national adjusting firm; Granite Health Solutions, a provider of medical assessments and health services; CKR Global, a national […]
6 min read
While not every organization has launched enterprise risk management (ERM), there is growing awareness of its value among risk managers who recognize essential elements must be identified to reach a core understanding of the challenges their respective organizations face.
July 31, 2014
13 min read
A recent KPMG survey on risks and opportunities in the Canadian insurance sector shows both some familiar patterns and some surprises. Management of both, however, is necessary to ensure the insurance industry evolves as rapidly as the risk environment it faces.
RIMS president Carolyn Snow advises that risk managers and their organizations can work together to keep pace with the quickly changing risk scene.
Interest rates in Canada have been at historic lows for five years, and an increase could lead to both falling asset values and rising claims costs.
7 min read
Western Canada is wildfire country - and no stranger to the displacement, damage and complete loss that such fires can bring. With more building in densely wooded areas, the potential for associated loss also rises. But there are steps homeowners can take to protect their homes during the hot summer months.
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