Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Last Friday, Marriott disclosed that the data of about 500 million guests had been exposed as a result of a hack that dates all the way back to 2014. In 2014, hackers exploited the reservation system of Starwood Hotels and…
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In late September, Facebook announced that it had discovered a breach in its network that had exposed the personal data of nearly 50 million users to hackers. The hackers exploited a feature in Facebook’s code to gain access to user accounts,…
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Uber has agreed to pay a hefty $148 million settlement after concealing a data breach in 2016 containing 57 million users’ data. In hopes of preventing this from recurring, it’s time for Uber to reassess their risk management practices, and…
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We’d like to congratulate the 25% of US-based companies that achieved GDPR compliance by the May 25th deadline, and to share a little guidance on how to stay compliant over time. As we all know, the GDPR is a huge…
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The GDPR is the strictest set of data protection rules any nation has published, featuring some of the most severe penalties connected to data privacy seen yet. Now that the compliance deadline has passed, we started to wonder about GDPR…
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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…
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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…
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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…
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Over the years I have been involved in a few insurer studies regarding the cost of mistakes. The most obvious, to an underwriter, is the cost of re-issuing policy documents processed in error. No one publishes these statistics (too embarrassing),…
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As insurers face the challenges of legislative and regulatory compliance, there is an argument to be made that large insurers will be in a better position to meet these challenges. As a means of meeting the regulatory requirements they face…
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