https://www.canadianunderwriter.ca/commercial-lines/top-2-priorities-for-canadian-commercial-insurers-1004166103/

https://www.canadianunderwriter.ca/commercial-lines/top-2-priorities-for-canadian-commercial-insurers-1004166103/
Canadian Underwriter | 23 July 2019

Silvy Wright, CEO of Northbridge Financial Corporation and Chair of Insurance Bureau of Canada’s Board of Directors, shares what the association’s priorities under her direction will be and speaks about the unique challenges Canadian business insurers will face in the year ahead.

https://www.canadianunderwriter.ca/climate-change/flood-risk-awareness-dialogue-around-re-location-has-arrived-1004165991/

https://www.canadianunderwriter.ca/climate-change/flood-risk-awareness-dialogue-around-re-location-has-arrived-1004165991/
Canadian Underwriter | 18 July 2019

CEO of Northbridge Financial Corporation, Silvy Wright, comments on how the P&C insurance industry will continue to support the work of national, provincial, and territorial governments in advancing the cause of climate adaptation.

https://www.canadianunderwriter.ca/brokers/how-brokers-can-talk-clients-out-of-declining-coverages-1004165633/

https://www.canadianunderwriter.ca/brokers/how-brokers-can-talk-clients-out-of-declining-coverages-1004165633/
Canadian Underwriter | 10 July 2019

Chief financial officer of Northbridge Financial Corporation, Craig Pinnock, shares why businesses are putting themselves at risk when declining certain insurance coverages and how brokers can help customers understand why they matter.

https://www.canadianunderwriter.ca/insurance/economic-tensions-would-spell-trouble-for-insurance-1004165533/

https://www.canadianunderwriter.ca/insurance/economic-tensions-would-spell-trouble-for-insurance-1004165533/
Canadian Underwriter | 9 July 2019

Craig Pinnock, Northbridge Financial Corporation’s Chief Financial Officer, speaks about how the economy and recent free trade agreements could impact the insurance industry. He points out reasons to be optimistic about the economy and the effect that will have on the insurance industry going forward.

Northbridge Releases Enhanced Cyber Risk Coverage for all Canadian businesses

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May 24, 2019 – Enhanced cyber risk insurance bundle offers more comprehensive protection and focused support to businesses of all sizes.

  • 54% of cyber security incidents in Canada prevent employees from carrying out day-to-day work, highlighting the need for commercial cyber insurance.[1]
  • Broad coverage, custom solutions, and complimentary support from leading breach response partner elevates the Northbridge cyber product.

Northbridge Insurance has enhanced their cyber insurance offering to protect businesses across Canada, with expanded first and third-party coverage for a variety of cyber breach issues and resulting expenses.

Cybercrime is skyrocketing, and as tactics become more sophisticated and accessible, more businesses are falling victim to cyber attacks of all shapes and sizes. In response, Northbridge Insurance has released a progressive cyber insurance solution that addresses the evolving cyber protection needs of Canadian businesses and reduces the likelihood of a costly and time-consuming recovery.

The newly enhanced Cyber Risk Bundle addresses the consequences of breaches that result in stolen, encrypted, or corrupted information. Some features include coverage related to incident response, data recovery, business interruption, extortion, privacy liability, and regulatory expenses.

“Cyber attacks are more prevalent than ever, and many businesses aren’t ready for the strike,” says Scott Vandenberg, Vice President of Commercial Lines, Corporate Underwriting at Northbridge Insurance. “Stronger defenses can make for a more effective response – and less downtime. We’re pleased to offer this enhanced solution to our customers to ensure they’re prepared and have the right support in place in event of a cyber or privacy breach.”

In addition to enhanced coverage, policy holders will receive proactive and reactive support from CyberScout, a leading data risk management service provider. The Northbridge Cyber Assist service provides access to expert consultation on protective measures, but also recovery assistance in the event of a privacy breach. CyberScout’s service is automatically included in every Northbridge cyber risk policy.

As cyber risk continues to grow and evolve in unpredictable ways, targeted protection and reliable support becomes paramount for Canadian businesses. A data breach could have a potentially devastating financial impact on a smaller operation, and given that 19% of small businesses and 28% of medium have been affected by cyber security incidents in 2017, it’s a risk that should not be ignored.[2] A forward-focused cyber solution that keeps up with evolving risks and addresses the reality of recovery costs and tasks can sometimes mean the difference between quick resumption of operations or insolvency.

Northbridge Insurance is committed to developing innovative and carefully curated insurance solutions tuned to the risks and needs of Canadian businesses across all sectors. With strategic partnerships and industry-focused internal expertise, Northbridge is poised to continue as a leader in commercial cyber insurance solutions.

[1] Statistics Canada. Table  22-10-0077-01   Impacts of cyber security incidents by industry and enterprise size

[2] Statistics Canada.  Cybercrime and Canadian businesses, 2017y industry and enterprise size.


About Northbridge Insurance

Northbridge Insurance is a leading Canadian commercial insurer. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that make a difference to their success. Visit us at www.nbins.com to learn more.

For further information, please contact:

Emily McCauley
Specialist, Corporate Communications
Northbridge Insurance
+1 (416) 350-4341
Emily.mccauley@nbfc.com

https://www.nbfc.com/pdf/3562-001-2018-Public-Accountability-Statement-En.pdf

We believe that, as a company, being successful also means supporting our people, our customers, and our communities. See where and how we gave back in 2018.

https://www.theglobeandmail.com/business/article-rise-in-cargo-theft-hits-transportation-insurance-sectors/

Truck News | 31 March 2019

Garry Robertson, Manager of the Claims Special Investigations Unit at Northbridge, comments on the recent increase of cargo-related theft. According to the Insurance Bureau of Canada (IBC), there were 3,143 reported incidents of cargo theft in Canada last year alone, totaling $229-million in value.

https://www.canadianunderwriter.ca/insurance/how-to-sell-commercial-coverage-to-small-businesses-1004160695/

Canadian Underwriter | 08 March 2019

Sue Duggan, Director of Small Business Underwriting at Northbridge Insurance, shares advice for brokers looking to sell commercial coverage to small businesses.

Northbridge white paper examines what’s fueling cargo theft in Canada

TORONTO, November 19, 2018 –  Northbridge Insurance has released a special report titled Canadian Cargo Theft Trends: What’s new, what’s now, and what’s on the horizon, describing how advancing technology and new high-value targets are putting carriers at risk from coast to coast.

Since the voluntary system for reporting cargo theft was launched collaboratively by the Insurance Bureau of Canada and the Canadian Trucking Alliance, an increase in reporting has provided an opportunity to take a closer look at how cargo theft is affecting Canadians and how carriers can mitigate this growing risk.

“These losses are having a direct impact on carriers’ bottom lines, and bring a huge reputational risk” stated Garry Robertson, who leads the Claims Special Investigations Unit at Northbridge. “For consumers, stolen products are often hiding in plain sight. The saying, ‘it fell off the back of a truck,’ may once have referred to a great deal, but it’s important to start asking where goods are coming from. Eventually, costs will increase,” he added.

Using data from local law enforcement reports, the Insurance Bureau of Canada, and other cargo authorities, the report offers a review of the current trends and changing risks surrounding cargo theft.

Key findings:

  • Mixed-load cargo, such as grocery and household items, topped the list of most commonly stolen products in 2018.
  • Meat products are becoming a primary target for theft and have attracted well-funded criminal networks: Northbridge Insurance claims data from 2018 shows that one stolen load was valued at $200,000, which would require a coordinated effort and investment in specialized equipment to prevent spoilage.
  • Cargo itself isn’t the only target: thieves are becoming increasingly more interested in the trailer as well, which is virtually impossible to recover once dismantled.
  • While Northbridge data shows that most reported theft occurs in Ontario, more consistent reporting from western Canada is indicating an increase in missing lumber loads and heavy equipment.
  • Technology is spurring growth in the industry, but also producing new ways for criminals to make off with freight. In many cases, thieves are breaching online broker sites to select high-value deliveries and collect them ahead of schedule by assuming a false identity.
  • Carriers should take extra precautions as we approach the holidays – a peak time for cargo theft, as more goods travel in preparation for the gift-giving season.

As a leading insurer within the Canadian trucking and logistics industry, Northbridge offers sound support and a range of helpful programs and services for concerned carriers. As cargo theft evolves, so does our commitment to producing data-based insights and solutions that will help trucking and transportation companies of all sizes to stay one step ahead of this rising threat.

The full report is available at nbins.com/cargo.

About Northbridge Insurance

Northbridge Insurance is a leading Canadian commercial insurer. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that make a difference to their success. Visit us at www.nbins.com to learn more.

For further information, please contact:

Emily McCauley
Specialist, Corporate Communications
Northbridge Insurance
+1 (416) 350-4341
Emily.mccauley@nbfc.com

https://www.newswire.ca/news-releases/canadian-broker-network-announces-the-2018-underwriter-awards-695293981.html

Canadian Broker Network | 05 October 2018

Northbridge Insurance’s own Kathryn Stimers was recognized by the Canadian Broker Network (CBN), Canada’s leading network of independent insurance brokers, at the 2018 Underwriter Awards.