Tech
The private cyber insurance market in the United States is capable of managing most risks, according to a new policy study from Washington, D.C.-based think tank R Street Institute. Released on Thursday, the study from R Street senior fellow Ian Adams found that the market is growing at a rate of 26% to 50% per […]
By Canadian Underwriter | December 17, 2016
2 min read
Half of citizens in million-people cities will benefit from smart city programs by voluntarily sharing their personal data by 2019, according to new research from Gartner Inc., an information technology research and advisory company based in Stamford, Conn. Gartner noted in a press release on Thursday that the rapid pace of technological and societal change […]
By Canadian Underwriter | December 16, 2016
3 min read
The blockchain for enterprise applications market will reach US$19.9 billion by 2025, according to market intelligence firm Tractica. The Blockchain for Enterprise Applications report, released on Wednesday, said that annual revenue for enterprise applications of blockchain will increase from US$2.5 billion worldwide in 2016 to US$19.9 billion by 2025, representing a compound annual growth rate […]
By Canadian Underwriter | December 14, 2016
Legal / Regulation
WASHINGTON – All new cars and light trucks would be able to talk wirelessly with each other, with traffic lights and with other roadway infrastructure under a proposal released Tuesday by the Department of Transportation. Officials say the technology holds the potential to dramatically reduce traffic deaths and transform driving. Vehicle-to-vehicle communications, or V2V, enables […]
By Jason Contant | December 13, 2016
HR
Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said in a press release on Monday that growth would be driven by a combination of […]
By Canadian Underwriter | December 13, 2016
Chubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services at Chubb, the advisory outlines how the COPE methodology – used by property underwriters for […]
WeGoLook LLC has “discussions ongoing” with several Canadian insurance carriers, the Oklahoma City-based firm’s chief executive officer told Canadian Underwriter Monday. WeGoLook provides “an array” of insurance services for automobiles, accident scenes, damaged property, document retrieval, salvage and courier services, the firm reports. WeGoLook retains “lookers,” who are contractors that have temporary and discrete work […]
By Canadian Underwriter | December 12, 2016
Emergency Management BC (EMBC) announced on Friday its endorsement of a one-year pilot project for the use of unmanned aerial vehicles (UAVs or drones) by search and rescue crews in Coquitlam and Kamloops. Minister of State for Emergency Preparedness Naomi Yamamoto announced the endorsement, the provincial Ministry of Transportation and Infrastructure said in a press […]
Data breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber response for KPMG in Canada, suggested at an industry event last week. The sobering observation […]
4 min read
Small-medium businesses (SMBs) with less than 10 employees – or nearly 80% of all firms in the United States – have “significantly negative views of insurers and employee benefits providers, creating an opportunity for new, innovative business models, products and processes from existing and new start-ups,” new research from Majesco has found. Majesco, a global […]
By Canadian Underwriter | December 9, 2016
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