Industry
NEW YORK – Russian hackers have stolen 1.2 billion user names and passwords in a series of Internet heists affecting 420,000 websites, according to a report published Tuesday. The thievery was described in a New York Times story based on the findings of Hold Security, a Milwaukee firm that has a history of uncovering online […]
By Canadian Underwriter | August 6, 2014
2 min read
OTTAWA – Malicious hackers are “constantly probing” federal computer systems so they can break in and steal coveted information, says the head of Canada’s electronic spy agency. Communications Security Establishment Canada chief John Forster says the revelation this week that a Chinese state-sponsored player infiltrated the National Research Council’s computer network shows Canada is not […]
By Canadian Underwriter | August 5, 2014
3 min read
Much of the mergers and acquisitions activity in the property/casualty and reinsurance industries during the first half of 2014 was driven by consolidation or companies attempting to enter new markets such as Asia and Latin America, notes a new report issued Monday by A.M. Best. This is similar to what has been happening in the […]
Industrial Alliance Insurance and Financial Services Inc. has reported net income attributed to common shareholders of $113.6 million for the second quarter of the year, up from $73.3 million in the same period last year. The company’s Dealer Services reported sales of property and casualty products of $46.5 million ( up 23%), while creditor insurance […]
By Canadian Underwriter | August 1, 2014
1 min read
OTTAWA – Hackers who targeted Canada’s National Research Council infiltrated a system containing personal information, the federal privacy czar says. The privacy commissioner’s office said Thursday it was first informed of the breach on July 23 and further briefed on Monday – at which point the exposure of personal data was confirmed. The attack appears […]
By Canadian Underwriter | July 31, 2014
A new survey of 75 insurance industry practitioners in the United States indicates that IT budgets will grow as 67% of respondents report they will increase investments in 2014. Based on the findings, technology investment is the clear priority for an industry widely considered to be a relative laggard in this area, notes a statement […]
Willis Group Holdings has reported a net income of $47 million in the second quarter of 2014 down from $105 million in the same period last year. It also reported net income of $293 million for the first half of the year, down from $324 million for the first six months of 2013. Total reported […]
By Canadian Underwriter | July 30, 2014
LONDON – British officials says driverless cars will be tested on roads in as many as three cities in a trial program to begin in January. Officials said Wednesday the tests will last up to three years. Sensors and cameras will guide the cars. The plan will include two types of driverless technology. One places […]
Peace Hills General Insurance Company has achieved certification for its eDocs solution, the Centre for the Study of Insurance Operations announced this week. CSIO Certification is available to member insurance companies and vendors and eDocs is the first business activity available for certification, with plans to expand the program to cover other activities. “Peace Hills […]
By Canadian Underwriter | July 29, 2014
NEW YORK – More travellers are flying than ever before, creating a daunting challenge for airlines: keep passengers safe in an ever more crowded airspace. Each day, 8.3 million people around the globe – roughly the population of New York City – step aboard an airplane. They almost always land safely. Some flights, however, are […]
4 min read
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