Why insurers are different from banks
Regulation has been increasing for the financial sector since the crisis but often the insurance industry is being treated in the same way as banks. A report from the insurance and re-insurance federation in Europe argues that insurers are different from banks and regulation should be appropriate to the sector. Insurance Europe says that the uniform implementation of regulations in many jurisdictions is a “worrying trend” and asks whether the activities of insurers and reinsurers are systemically risky, why insurers use derivatives and whether insurers engage in shadow banking activities. Read the full report.
Remote working can be a risky business
Poor security is putting business data at risk for those working remotely, according to new research from global and information security company Imation Corp. The study shows that workers are taking confidential information away from the office, often without the knowledge of their employer, and losing unsecured and unencrypted business data in places such as bars, trains and hotels. A poll of 1000 workers found that nearly two in five have lost, or personally know someone who has lost, a device in a public place with 75 per cent of those devices containing work related data. Around a fifth of this data was customer information including financial data. Fewer than six out of ten respondents said their organisation had a remote working policy. Of those that do have a policy, over a quarter admitted they had broken the policy in order to work remotely and while many do protect data only around half of those are provided with security solutions by their employer.
Insurance bureau welcomes awareness of carbon monoxide
Individuals and businesses in Toronto are being reminded of the dangers of a ‘silent killer’ this week. Carbon monoxide is odourless, tasteless and colourless but can be fatal and a large number of properties have at least once source of the gas especially heating systems. The city’s Carbon Monoxide Awareness Week is highlighting the dangers and urging homeowners and businesses to fit CO detectors and keep them maintained and it is being welcomed by the Insurance Bureau of Canada which has been involved in the distribution of CO detectors.
