Industry
There is an increase in the number of cars, industrial control systems and other non-computing devices that are connected to a global computer network, some of these devices are sold without “thorough security and functional testing” and are therefore “easier targets” for criminals than personal computers, yet most corporate information technology departments “are not responsible” […]
By Canadian Underwriter | November 21, 2014
4 min read
DETROIT – The Honda Odyssey was the only minivan to earn the highest safety rating in new crash tests by the insurance industry. The Insurance Institute for Highway Safety said Thursday that the Nissan Quest, Chrysler Town and Country, and Dodge Caravan all garnered the lowest rating on the small overlap front crash test, which […]
By Canadian Underwriter | November 20, 2014
2 min read
Technology, particularly to enhance underwriting, was ranked as the highest priority for 2015 by nearly half of Canadian insurance industry respondents in a recent survey, and most said their IT spend would increase next year. In the survey of insurance industry professionals, conducted in October and November online by technology provider Xchanging plc, 49% of […]
Insurance buyers in small and mid-sized businesses are “comfortable” doing online research, but insurance carriers “rarely” offer online quoting for small businesses, Conning Inc. suggested in a report. In the report, titled The Small Business Sector for Property-Casualty Insurance: Market Shift Coming, Conning noted that some insurers and distributors are ‘observing profound changes’ in the […]
Loss cost containment and delivering superior customer service are the top goals for chief claims officers at property and casualty insurance companies in the United States, according to a new survey from Towers Watson. Loss cost containment was ranked by 89% of CCOs as either their primary or secondary claim operational goal, while 71% said […]
By Canadian Underwriter | November 19, 2014
The belief that all-season tires are “good enough” is likely behind only 51% of Canadian drivers using winter tires, outside of Quebec where they are mandated, according to a new survey from the Tire and Rubber Association of Canada (TRAC). The poll of about 1,000 Canadians asked whether drivers had used the specialized tires this […]
Cybersecurity and privacy was rated as the “top technology challenge” by respondents to a recent survey, while risks from cloud computing and information technology outsourcing made the top 10, yet most respondents do not update their IT audit risk assessments more frequently than once a year, Protiviti Inc. suggested in a recent report. Menlo Park, […]
3 min read
Allied World North America has launched a new policy that aims to address coverage gaps for directors and officers of publicly-traded companies in the Canadian market. The “Executive ForceField product” is an upgraded Side ‘A’ Directors & Officers Excess and Lead Difference-in-Conditions (DIC) insurance policy, Allied World said. It provides broad ‘Side A’ coverage for non-indemnified […]
1 min read
Using a telematics program has cut collisions involving new drivers by 40% six months after passing their test versus the national average, Ingenie has reported based on an analysis of the drivers using the technology it provides. The United Kingdom-based company says that the crash risk for telematics policyholders six months after passing their driving […]
By Canadian Underwriter | November 18, 2014
WASHINGTON – A U.S. House oversight committee demanded answers Monday about a suspected cyber-attack that has shut down the State Department’s unclassified email system. In a letter to Secretary of State John Kerry, Democratic lawmakers on the House Government Oversight Committee requested details about the data breach – including when it was first discovered. The […]
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