INSURANCE INDUSTRY NEWS
Canadian Firms Overconfident In Cybersecurity
Two-thirds of Canadian executives expect that data breach attempts will increase, but they may be overconfident about their cybersecurity readiness, according to a new survey conducted by Ovum for analytics firm FICO.
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U.S. P&C Net Income Drops 42.2% In Q1 2017
The private U.S. property/casualty insurance industry saw its net income after taxes drop 42.2 percent in first-quarter 2016, according to ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America.
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U.S. Cyber Market Topped 1 Billion USD In 2016
Top cyber insurance writers have shifted away from writing packaged policies to standalone coverage by nearly a 70-30 split on more than USD 1 billion of direct premiums written in 2016, according to a new A.M. Best special report.
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U.S. Cyber Insurance Industry Grows 35%
Cyber insurance direct written premium volume for the Property/Casualty industry grew by 35% in 2016 to USD 1.35 bn, according to a new report from Fitch Ratings.
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2017 Trustwave Global Cybersecurity Report
There is good news and bad news in the world of cybersecurity: the 2017 Trustwave Global Security Report reveals the top cybercrime, data breach and security threat trends from 2016.
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Bitfury Group, Risk Cooperative Announce Blockchain Partnership
The Bitfury Group and Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the insurance intermediation market.
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Wawanesa Deploys Guidewire Systems
Guidewire Software, Inc., and The Wawanesa Mutual Insurance Company have announced that Wawanesa has successfully completed its core system implementations in the United States. The company continues to deploy InsuranceSuite in Canada.
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J.D. Power 2017 U.S. Auto Insurance Study
Record numbers of miles driven, increased frequency and severity of collisions, and extreme weather have crimped U.S. auto insurer profitability, resulting in rate increases for more than one-quarter of U.S. customers and a strain on customer satisfaction, according to the J.D. Power 2017 U.S. Auto Insurance Study.
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Data Breach Cost Declined Globally In 2017
The average overall cost of a data breach has declined – for the first time – according to a new global study sponsored by IBM Security and conducted by Ponemon Institute.
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Home Is Where The Heart Is: Allstate Canada Poll
When it comes to possessions they treasure, home is truly where the heart is in Canada, as Canadians say they value their homes above all else, according to a new poll commissioned by Allstate Insurance Company of Canada.
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More Drivers Need To #DriveSober, #SlowDown
The results of SGI's May traffic safety spotlight are another reminder of why such campaigns are needed. More than 320 impaired driving offences and 6,100 speeding tickets were recorded, showing more drivers need to #DriveSober and #SlowDown.
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