Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
The Forrester Wave™: Governance, Risk, and Compliance Platforms, Q1 2018 evaluates and ranks the 14 most significant GRC platforms available, and LogicManager has been named a Leader! But beyond measuring the current offering, strategy, and market presence of GRC providers,…
Oxfam, one of the UK’s biggest charities, was exposed this month to have had 87 claims of sexual exploitation and abuse involving its workers in the year ending April 2017, a 36% increase on the previous year. In light of…
Here we are. February 2018. For many, February is a trying month. How well are those New Year’s resolutions holding up? Have the early-morning January gym visits started to fade? Are salads getting old? Personal goals aside, here’s one thing…
2017 presented a whirlwind of corporate scandals: United Airlines, Wells Fargo, Facebook, Uber, Chipotle, Equifax, WannaCry…the list goes on and on. Many of these companies suffered second and even third scandals when they failed to learn their lesson from the…
This September, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published a much-anticipated update to their 2004 “Enterprise Risk Management—Integrated Framework,” a renowned and widely used risk management framework. The new release is formally called “Enterprise Risk Management—Integrating…
The hot water in which Uber has been simmering has just reached new thermal heights. Back in October 2016, hackers stole the personal data of 57 million customers and drivers containing their names, email addresses, phone numbers, and in the…
Recently, Forrester Research published “GRC Vision 2017-2022: Customer Demands Escalate As Regulators Falter,” which explores challenges the GRC industry will inevitably face as it develops, and the proven solution that enterprise risk management provides. We’ve broken this report down to…
On September 7, big-three credit reporting company Equifax reported that hackers gained access to the personal information of about 143 million U.S. consumers, and have now recently reported that as many as 100,000 Canadian consumers were affected as well. As…
The third step in the Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) is the implementation of a risk appetite and tolerance statement. This step is meant to set boundaries on how much risk your organization is…
The blows keep on coming for Wells Fargo. Within a year of their cross-selling scandal, two more scandals have risen to the top of news headlines. In part one of this series, I set out to make good on a…
Every business, in every industry, is liable to suffer a scandal. However, in all my years of experience, I have never come across a scandal that wasn’t entirely preventable. In a recent interview I had with business journalist L.A. Winokur…
The first step in Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) implementation, risk culture and governance, lays the groundwork and defines roles for your risk management function. The second step, risk identification and prioritization, defines an ongoing risk…
The National Association of Insurance Commissioners adoption of the Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) of 2015 required insurance organizations to take a broader approach to risk management. I would like to revisit this regulation and…