HR
The board of directors of Economical Insurance announced on Wednesday that Rowan Saunders has been named president and CEO effective Nov. 1. Having served as president and CEO of RSA Canada since 2003, Saunders (pictured right) will “further the vision of Economical to be one of Canada’s top P&C insurance companies and advance the company’s […]
By Canadian Underwriter | July 27, 2016
4 min read
Tech
The first five months of 2016 were dominated by malicious email campaigns of unprecedented volume, with new ransomware variants emerging quickly and actors “repeatedly [shifting] tactics with new loaders, document attachment types and obfuscation techniques to evade detection,” according to cybersecurity company Proofpoint, Inc. The Proofpoint Quarterly Threat Summary, released on Tuesday, said that JavaScript […]
By Canadian Underwriter | July 26, 2016
3 min read
Six in ten motor insurance policyholders in the United Kingdom say that avoiding any type of mobile phone use should be a top factor used by insurers in offering lower premiums, according to a new survey. The survey of 1,314 motor insurance policyholders over the age of 18 found that 60% think that avoiding any […]
By Canadian Underwriter | July 20, 2016
2 min read
WASHINGTON – Experts say the development of self-driving cars over the coming decade depends on an unreliable assumption by many automakers: that the humans in them will be ready to step in and take control if the car’s systems fail. Instead, experience with automation in other modes of transportation like aviation and rail suggests that […]
By Jason Contant | July 19, 2016
Most companies are unprepared for the emergence of autonomous vehicles (AVs), with 64% of polled risk managers saying that their companies have done nothing to prepare for the emergence of these vehicles in the auto market, according to a Munich Re survey. The in-person survey of more than 100 risk managers was conducted on site […]
By Canadian Underwriter | July 19, 2016
External cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect. Despite acute awareness of the millions of dollars in annual costs, and the business risks posed by […]
By Canadian Underwriter | July 18, 2016
Informing everyone via social media just how great a vacation is or is going to be could be putting Canadians’ largest investments – their homes – at risk of breaches in home security, notes a new survey issued Monday by Allstate Insurance Company of Canada. Almost a quarter of Quebecers, 23%, taking part in the […]
About three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions remaining and the slow-growth economy,” the rating company reports, citing findings included in A.M. Best […]
By Canadian Underwriter | July 15, 2016
Nine in ten global consumer product (CP) companies have faced a data breach and nearly one in two do not company with industry regulations, research from Gapgemini has found. The consulting, technology and outsourcing services firm conducted a global survey of 300 managerial executives across 86 companies in the consumer goods industry. Ten per cent […]
By Canadian Underwriter | July 14, 2016
The Transportation Safety Board of Canada recently released an investigation report into a severe turbulence incident in southwestern Ontario, in which the crew of an American airline flew into a line of thunderstorms, temporarily lost control of their airplane and reacted “contrary to known aircraft upset recovery techniques.” On September, 5, 2014, a crew with […]
By Canadian Underwriter | July 13, 2016
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