Tech
Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats amid regular reports of data breaches and other information system intrusions will spur demand for […]
By Canadian Underwriter | May 16, 2017
3 min read
NEW YORK – Waymo, the self-driving car company owned by Google’s parent Alphabet Inc., and Lyft Inc. are teaming up to road test autonomous cars in a potential challenge to Uber Technologies Inc. In its statement, Lyft said Waymo holds “today’s best self-driving technology.” The two plan to work together to bring autonomous vehicles into […]
By Jason Contant | May 15, 2017
1 min read
HR
American International Group Inc. has a new chief executive officer, Brian Duperreault, as of Sunday, the New York City-based insurer announced. Duperreault (pictured right), a former CEO of Marsh & McLennan Companies Inc., is now also president and director of AIG, the company announced Monday. Duperreault replaces Peter Hancock, who was appointed CEO in 2014. […]
By Canadian Underwriter | May 15, 2017
4 min read
TOKYO – The worldwide “ransomware” cyberattack spread to thousands of more computers on Monday as people logged in at work, disrupting business, schools, hospitals and daily life, though no new large-scale breakdowns were reported. In Britain, whose health service was among the first high-profile targets of the attack Friday, some hospitals and doctors’ offices were […]
5 min read
Russian cybersecurity company Kaspersky Lab has found a “noticeable decline” in the number of overall distributed denial of service (DDoS) attacks and a change to how they were dispersed by country. Kaspersky released late last week its Q1 2017 DDoS Intelligence Report, which confirms forecasts about the evolution of DDoS attacks made by the company’s […]
2 min read
Development of a consistently implemented, policy-driven Canadian fintech strategy focused on fostering innovation is essential and strengthening the fintech ecosystem in the Toronto area should be seen as an imperative for the country’s financial services sector and governments, contends the Toronto Financial Services Alliance (TFSA). Issued Monday by TFSA, the report Seizing the Opportunity: Building […]
AUBURN HILLS, Mich. – Fiat Chrysler is recalling approximately 1 million Ram pickups in North America due to a software glitch that could prevent side air bags and seatbelts from deploying during a rollover. The company’s U.S. division said Friday that it is aware of one death, two injuries and two accidents that may be […]
By Jason Contant | May 12, 2017
A large ransomware cyberattack has “crippled” computer systems at hospitals across the United Kingdom on Friday, with appointments cancelled, phone lines down and patients turned away, the Associated Press has reported. Britain’s National Health Service (NHS) said that a number of organizations have reported to NHS Digital – which oversees hospital cybersecurity – that they […]
By Canadian Underwriter | May 12, 2017
The Toronto Insurance Conference announced Thursday that applications for its scholarship program are due Sept. 8. TIC, an association of Ontario commercial brokerages, started offering three scholarships per year in 2013 in order to encourage young people to consider a career in insurance. Recipients are announced each fall at the John E. Lowes breakfast at […]
DETROIT – In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robotaxis. A self-driving car would be programmed to drive at the speed limit. Humans routinely exceed it by 10 to 15 mph (16 to 24 kph) […]
By Jason Contant | May 11, 2017
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