Tech
Insurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the auto insurance industry in the United States over the next eight years, according to a new report from Accenture and Stevens Institute of Technology (SIT). The new premiums will be driven by risks related to cybersecurity, software and hardware and by […]
By Canadian Underwriter | May 18, 2017
4 min read
An insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the Connected Insurance Observatory, suggested Wednesday during a media briefing. Giving customers the opportunity to choose […]
By Angela Stelmakowich | May 18, 2017
The biggest risk with mass email theft is phishing and malware distribution, the vice president of business development with Vancouver-based NuData Security said in a statement on Wednesday, two days after Bell Canada confirmed an “illegal access” of customer information. Robert Capps said in the statement that 91% of cyberattacks start with a phishing email […]
By Canadian Underwriter | May 17, 2017
2 min read
The Transportation Safety Board of Canada reiterated Tuesday a warning that airplane passengers and crew are at risk of injury because not all Code 4 runways at Canadian airports have a 300-metre runway end safety area. TSB – a separate organization from Transport Canada that investigates incidents and accidents in marine, railway, pipelines and aviation […]
As institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how to deal with such an attack affecting them personally. The 2017 CIGI-Ipsos Global Study on […]
3 min read
HR
Just over half (53%) of Canadian small business owners (SBOs) and just under half (48%) of C-suite executives don’t feel confident about their current secure destruction systems for paper or electronic media, according to the seventh annual Shred-it Information Security Tracker Survey. The Shred-it survey, conducted by Ipsos, found that Canadian businesses might not be […]
An analysis of CEO successions at the world’s largest 2,500 public companies over the past 10 years shows a marked increase in forced turnovers for ethical lapses, although Canada is among the countries with the lowest incidence of such dismissals. Forced turnovers from ethical lapses rose 36% from 3.9% of all successions in the 2007-2011 […]
Legal / Regulation
The global WannaCry ransomware attack is “arguably the first ever cyber-catastrophe,” an expert in cyber risk management from RMS said on Tuesday. Tom Harvey said in a statement that the cyberattack “clearly demonstrates the systemic nature of the risk, with a single vulnerability resulting in hundreds of thousands of infected machines across over 150 countries.” […]
By Canadian Underwriter | May 16, 2017
Rogers Insurance Ltd. announced on Tuesday that it will obtain a minority shares purchase of Megson FitzPatrick Inc. The partnership between Calgary-based Rogers Insurance and Victoria, B.C.-based Megson FitzPatrick became effective May 5, Rogers Insurance said in a press release on Tuesday. “This partnership strengthens both organizations tremendously,” Rogers Insurance chief operating officer Bruce Rabik […]
Personal lines carriers in the United States are using insurtech to focus on diverse research and development efforts, analytics, improved self-service capabilities (including mobile platforms) and core systems upgrades with an eye to the future, suggests a new report from Novarica. The report – Business and Technology Trends: Personal Lines – was released on Tuesday […]
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