Canadian Underwriter

Topic
Legislation / Regulation

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Nearly half of global insurers expect to acquire new technologies through M&A in the next three years: Willis Towers Watson survey

February 17, 2017 by Canadian Underwriter

Nearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies

News InsuranceLegalLegislation / Regulation

Supreme Court of Canada will not hear appeal from municipality ruled negligent after cyclist breaks neck

February 16, 2017 by Canadian Underwriter

Canada’s highest court announced Thursday it will not hear an appeal from a municipality that was sued, under Ontario’s Occupiers Liability Act, by a cyclist who broke his neck after attempting to ride over an obstacle at an adventure park.

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

New York cyber rules could raise loss exposures for U.S. insurers: Fitch

February 15, 2017 by Canadian Underwriter

The implementation of the New York Department of Financial Services’ (NYDFS) new cybersecurity regulations has the potential to underscore premium growth in cybersecurity insurance and directors and officers (D&O) insurance, but could also raise loss potential for insurers, Fitch Ratings

News InsuranceLegislation / RegulationPersonal LinesTechnology

U.S. Congress committee warned that autonomous vehicles could ‘pose an avenue for terrorism’

February 14, 2017 by Canadian Underwriter

The industry and regulators need to “think very broadly” around the cyber security of autonomous vehicles, and having autonomous cars operate in such a way that human drivers must be ready to take control can actually increase the risk of

News InsuranceLegalLegislation / RegulationPersonal Lines

Intact, Allstate disagree on whether accident victims “principally dependent” on policyholder

February 13, 2017 by Canadian Underwriter

The Supreme Court of Canada will not hear an appeal over an arbitration ruling in an auto accident benefits priority dispute, where insurers disagreed on whether a claimant was “principally dependent” on the owner of a vehicle. Court records indicate

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentTechnology

CEOs “particularly” anxious about data breaches: PwC survey

February 13, 2017 by Canadian Underwriter

Nearly one in four chief executive officers surveyed by PriceWaterhouseCoopers “strongly agree” that how their firms manage people’s data will “differentiate” their companies. “CEOs are particularly anxious that breaches in data security and ethics, and IT outages and disruptions could

News Commercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Personal, commercial drone market revenue expected to increase 34% to reach US$6 billion+ in 2017: Gartner

February 13, 2017 by Canadian Underwriter

Production of drones for personal and commercial use is growing rapidly, with global market revenue expected to increase 34% to reach more than US$6 billion in 2017 and more than US$11.2 billion by 2020, according to a new forecast from

News InsuranceLegislation / RegulationPersonal Lines

Insurance Bureau calls on Ontario to implement file-and-use process for private passenger auto, allow e-signatures

February 7, 2017 by Canadian Underwriter

The Ontario government should apply a file-and-use process for private passenger auto coverage, Insurance Bureau of Canada suggested in a paper released Monday. Auto insurers’ rate changes are subject to approval by the Financial Services Commission of Ontario. FSCO actuaries

News InsuranceLegislation / RegulationPersonal LinesTechnology

Self-driving car prototypes need less human help, data show

February 2, 2017 Justin Pritchard - THE ASSOCIATED PRESS

LOS ANGELES – Self-driving car prototypes appear to be getting better at negotiating California streets and highways without a human backup driver intervening, according to data made public Wednesday by California transportation regulators. The data reflect safety-related incidents reported by

News AssociationsInsuranceLegalLegislation / Regulation

Legalization of marijuana calls for ‘more thorough’ risk assessment from brokers: OIAA speaker

January 31, 2017 Greg Meckbach, Associate Editor

The legalization of marijuana for medicinal purposes is “creating a challenge” for claims adjusters and brokers alike, with a need for customized insurance policies for producers and for updating lease agreements, a speaker suggested at a conference Tuesday. “Possession of

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Soft and hard disruptors will vastly transform Canadian collision industry in next 10 years: CCIF speaker

January 27, 2017 Jason Contant, Online Editor

The Canadian collision industry will be “ripped apart beyond belief” in a decade by several disruptors, including connected autonomous vehicles and ridesharing, a speaker suggested Friday at the Canadian Collision Industry Forum (CCIF) meeting in Vaughan, Ont. Andrew King, managing

News InsuranceLegalLegislation / RegulationPersonal Lines

Future CPP disability benefits not deductible from payments under Nova Scotia auto family protection endorsement: Supreme Court

January 27, 2017 by Canadian Underwriter

Future disability benefits under the Canada Pension Plan are not deductible from auto insurers’ payments under the Nova Scotia family protection endorsement, the Supreme Court of Canada found in a ruling released Friday. Canada’s highest court restored a 2013 ruling,