Tech

Cyber work diagnostic tool to help foster a cyber-savvy workforce by making people the focus: Willis Towers Watson

Willis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an organization’s cyber risks by considering the people piece of cyber security by recruiting, leading and […]

By Canadian Underwriter | July 21, 2017

3 min read

Tech

Cyber threat landscape growing, potential for emergence of destruction of service attacks: Cisco

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 multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

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 […]

By Canadian Underwriter | July 20, 2017

2 min read

Tech

Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada

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

5 min read

$11.2-million settlement proposed in Ashley Madison data security breach

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 […]

2 min read

Applying blockchain technology could slash US$40 billion in costs for financial services: BIS Research

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

Embracing the Bogeyman

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 set to rebound in second half 2017, led by cloud and mobile upgrade cycles: report

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, […]

3 min read

Accepting failure can fuel success, drive advances for companies looking to reach digital maturity: global study

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 […]

4 min read