HR
The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of Financial Innovation’s (CFSI) latest Insurance Banana Skins 2017 survey, conducted with support from PwC, surveyed […]
By Canadian Underwriter | May 31, 2017
3 min read
Legal / Regulation
Transport Canada needs to update its regulations on flight recorders, Transportation Safety Board of Canada suggested Monday. The federal government’s response to a recommendation from a 1993 accident that killed seven is “still unsatisfactory,” TSB argued Monday in a tweet. TSB recommended more than 20 years ago that Transport Canada “streamline its processes to facilitate […]
4 min read
Tech
The Insurance Institute of Canada (IIC) will host a webinar examining the sharing economy as both an opportunity and a threat to the Canadian p&c industry. The webinar is scheduled for June 14 at 1 p.m. EDT. It offers “future-forward perspectives on the growth of the sharing economy and the opportunities and the threats to […]
By Canadian Underwriter | May 30, 2017
Chipotle Mexican Grill, Inc. has confirmed “the operation of malware designed to access payment card data from cards used on point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24, 2017 and April 18, 2017.” Chipotle said in a press release on Friday that the released information comes at the completion of […]
By Canadian Underwriter | May 29, 2017
2 min read
The country’s payments infrastructure is long overdue for an update to ensure financial system stability amid the rapid advance of new technologies and the risks that accompany them, a senior Bank of Canada official said Thursday. Deputy bank governor Sylvain Leduc warned that, for example, the systems must be able to keep up with new […]
By Jason Contant | May 26, 2017
A lot more convergence in cyber insurance policies is expected within the next few years as policies, exclusions and wording get tested and case law develops, John Elbl suggested Wednesday during a panel discussion at MSA Research Inc.’s Canadian Insurance Financial Forum (CIFF) in downtown Toronto. “Right now, because of the soft market, everyone wants […]
By Angela Stelmakowich | May 26, 2017
A misinterpretation of an instruction from a ground controller, on the part of air crew on an Embraer 190, was one cause of a runway incursion in Toronto that forced an approaching Airbus 320 to pull up and go around, the Transportation Safety Board of Canada said in a report released Wednesday. Runway incursions is […]
By Canadian Underwriter | May 25, 2017
Canadians prioritize regulatory reviews of drones, autonomous vehicles and online user agreements above those of other emerging technologies, according to new research from global professional services company Accenture. For the research, an Ipsos I-Say panel interviewed a sample of 1,003 Canadians for Accenture to gauge Canadian attitudes on government regulation of emergent technology-enabled products and […]
The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and CEO Joel Baker said on Wednesday. Baker released the “sneak preview” of Q1 2017 results […]
By Jason Contant | May 24, 2017
Operations
VERNON, B.C. – The BC Wildfire Service is responding to two separate blazes that broke out on Tuesday, including one that has prompted an evacuation alert. A fire in the north Okanagan, northwest of Lumby, was fanned by high winds and officials say it has now charred as much as eight hectares of trees and […]
By The Canadian Press | May 24, 2017
1 min read
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