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Lessons learned from the Crowdstrike outage

Visibility360, PDF version to share

By Alain Castonguay | Oct. 3, 2024, 10:55 a.m.

Flash | P&C Insurance | Business insurance | Cyberrisks | CROWDSTRIKE | Strategy | Technology | Cyberrisks | Analytic | International | Damages | Losses

Brokers can use this example to better explain to SMEs why they need cybersecurity insurance, say three experts.

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Headlines

Canadian life insurance application activity was flat in November

Number of Canadians smoking cannabis is on the decline

Affluent clients: Coverage is more expensive and less easily available

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Flash

Number of Canadians smoking cannabis is on the decline

Affluent clients: Coverage is more expensive and less easily available

Insurance executives say artificial intelligence is coming

Low-income rates drop among those over age 65

P&C Insurance

Majority of companies underinsured against profit-threatening risks

Ransomware attacks are increasingly complex and sophisticated

Leverage catastrophe awareness to educate homeowners about earthquake risk

Commercial truck driving: improved safety, performance and professionalism needed

Business insurance

Definity reports higher earnings despite catastrophe claims

New framework developed to assess cyber attacks

Hub expands agribusiness with new acquisition

BrokerLink completes three more acquisitions

Cyberrisks

Global commercial insurance rates decline for the first time in seven years

IP address counts are a strong predictor of cyber claims

Cyber incidents against individuals on the rise

Cyber insurance landscape constantly in flux

CROWDSTRIKE

Intact nearly triples profit in Q2 2024

Global outage will have limited impact on insurance

Strategy

Canadian life insurance application activity was flat in November

Starting a career in insurance: "The key is mentorship"

Five advisors share how they defy time and conventions

Arthur J. Gallagher makes acquisition in Ontario

Technology

Canadian regulators weigh in on generative artificial intelligence use

Senior actuaries call for best practices for generative artificial intelligence usage

Defending artificial intelligence-related litigation

Commercial premium renewal rates softening

Cyberrisks

Cyber market would survive a significant malware event

Many companies unaware of legislated cyber obligations

Investment in cyber resilience on a downward trend

Business and technology consolidation creating opportunities for cyber criminals

Analytic

Cancer remains leading cause of death in Canada

Funded status of Canadian pension plans increases in October

Healthcare in Canada expected to cost $370 billion in 2024

Reinsurer calls on industry to support psychological resilience research

International

Great-West Lifeco’s third-quarter net earnings decline

Manulife third-quarter earnings up 82%

Global disability market worth trillions

Exceptionally heavy rains in Central Europe cause flooding

Damages

Natural catastrophe losses exceed USD $100-billion for fifth consecutive year

Intact acquires a residential work application

Insured British Columbia flooding damage surpasses $110-million

Flooding: Prevention 10 times more cost-effective than rebuilding

Losses

Ontario revises accident benefit form

Intact increases earnings despite catastrophic claims

The impact of natural disasters will continue to put pressure on insurers

Industry association warns of insurability crisis