Tech
The potential for “destruction of service” (DeOS) attacks is greatly concerning and organizations would be well-advised to adopt a proactive cyber stance in their protection efforts to combat increasingly sophisticated attackers, warns a new report from Cisco. “Cyber incidents such as WannaCry and Nyetya show the rapid spread and wide impact of attacks that look […]
By Canadian Underwriter | July 20, 2017
5 min read
Legal / Regulation
Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts division, seeks to help organizations take a more holistic approach in managing exposures that pose […]
2 min read
Canadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report. “By moving risk management closer to the front line, management will have a greater understanding […]
By Canadian Underwriter | July 19, 2017
The Toronto-based parent company of the infidelity dating site Ashley Madison says it has reached a US$11.2-million settlement an American class-action lawsuits stemming from a massive security breach two years ago. Ruby Corp., which was previously known as Avid Life Media, says the proposed settlement must first be approved by the United States District Court […]
By Canadian Underwriter | July 17, 2017
Alice Keung, Economical Insurance's chief transformation officer, says a key lesson learned from working in various sectors is the need to focus on the customer perspective.
July 17, 2017
Implementing blockchain technology could produce hefty cost savings in the billions of dollars annually for the financial services market, suggests a new report released Friday by Minnesota-based BIS Research. Characterizing blockchain as a revolutionary development, its application “could lead to a per-year cost savings” of US$6 billion to US$8 billion in KYC/AML (know your customer/anti-money […]
4 min read
So much technology; so many possibilities. Increasingly for the property and casualty insurance industry, however, it feels as though a greater ease is developing around technology and technological advances. No longer is technology seen in p&c insurance as the stereotypical (and likely inaccurate) 20-something bogeyman intent on disrupting – destroying, if necessary – any trace […]
July 14, 2017
3 min read
Worldwide IT spending is expected to rebound in the second half of the year, led by cloud and mobile upgrade cycles, International Data Corporation (IDC) said in a new report. According to the latest edition of IDC’s Worldwide Black Book, global IT spending is expected to increase by 4.5% in 2017 in constant currency terms, […]
By Canadian Underwriter | July 14, 2017
Trying and accepting the possibility of failure has proved an effective way for organizations to clear the aversion-to-risk hurdle and advance toward digital maturity, notes a new study from MIT Sloan Management Review and Deloitte Digital. In all, 71% of digitally maturing organizations have conquered the risk-aversion barrier by encouraging their organizations to experiment and […]
North America is the world’s most advanced smart home market, with an installed base of 21.8 million smart homes at the end of 2016 – a 47% year-on-year growth, according to machine-to-machine (M2M) and Internet of Things (IoT) analyst firm Berg Insight. “The strong market growth is expected to last for years to come, driving […]
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