Canadian Underwriter

Topic
Technology

News InsuranceMarkets / CoveragesTechnology

Global organizations will spend US$1.2 trillion on “digital transformation technologies” in 2017: International Data Corporation

February 24, 2017 by Canadian Underwriter

Global organizations will spend US$1.2 trillion on digital transformation this year, with the fastest growth coming from insurance, banking, retail and healthcare providers, International Data Corporation (IDC) said on Thursday. A new update to IDC’s Worldwide Digital Transformation Spending Guide

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesTechnology

RSA Canada posts solid underwriting profit despite nat-Cat events in 2016

February 24, 2017 by Angela Stelmakowich

RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Ontario Securities Commission, U.K. regulator sign co-operation agreement on fintech businesses

February 23, 2017 by Canadian Underwriter

The Ontario Securities Commission (OSC) and the United Kingdom’s Financial Conduct Authority (FCA) have signed a new agreement under which fintech businesses in both jurisdictions will be able to seek support from their financial regulators as they look to operate

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Global insurance CEOs concerned about skills shortages and related pace of technological change: PwC survey

February 22, 2017 by Canadian Underwriter

Insurance CEOs have the biggest concerns in the financial services industry over skills shortages and the related pace of technological change, according to a new survey from PwC. The survey, titled Ahead of the curve: Confronting the big talent challenges

News InsuranceTechnology

Half of all phishing attacks in 2016 aimed at stealing money: Kaspersky analysis

February 22, 2017 by Canadian Underwriter

Almost half of all phishing attacks registered in 2016 by Kaspersky Lab were aimed at stealing victims’ money, the cybersecurity company reported on Wednesday. According to the Financial Cyberthreats in 2016 report, 47.48% of all phishing attacks – fraudulent email

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Confront risks of financial technologies to reap benefits: FINTRAC

February 22, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of Canada’s financial intelligence unit warns that regulators must grapple with the challenges of emerging financial technologies, some of which he says have been exploited by terrorism and organized crime. But while it’s necessary to safeguard

News InsuranceLegalTechnology

Half of polled Canadian businesses suspect or know their firms have been hit by fraud in last year

February 22, 2017 by Canadian Underwriter

New survey findings indicate a disconnect between how many Canadian businesses have experienced fraud in the last year and the high level of confidence among business and C-suite executives regarding their ability to prevent such incidents. Half of the Canadian

News Commercial LinesInsuranceMarkets / CoveragesTechnology

Global spending on worldwide cloud services and infrastructure to reach US$122.5 billion in 2017: International Data Corporation

February 21, 2017 by Canadian Underwriter

Worldwide spending on public cloud services and infrastructure will reach US$122.5 billion in 2017, an increase of 24.4% over 2016, suggested new research from Framingham, Mass.-based International Data Corporation (IDC). The new update to the IDC’s Worldwide Semiannual Public Cloud

News InsuranceLegalTechnology

One in four U.S. consumers victim of healthcare data breach: Accenture

February 21, 2017 by Canadian Underwriter

Just over one in four consumers (26%) in the United States have had their personal medical information stolen from technology systems, according to results of a survey from Accenture released on Monday. The findings related to the U.S. portion of

News CatastrophesClimate ChangeInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Cyber attack remains top business continuity concern, preparedness for all threats urged: Horizon Scan Report

February 21, 2017 by Canadian Underwriter

Cyber attack, data breach and unplanned IT and telecom outages are the greatest concerns among business continuity professionals, concludes the sixth annual Horizon Scan Report, released Tuesday. The top three concerns remain unchanged from the last report carried out by

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 CatastrophesCommercial LinesInsuranceTechnology

Transport Canada urged to ‘identify appropriate mitigating strategies’ to reduce severity of derailments involving dangerous goods

February 17, 2017 by Canadian Underwriter

The federal transport department should study the factors involved in severity of train derailments involving dangerous goods, Transportation Safety Board of Canada said Thursday. TSB – a separate organization from Transport Canada that investigates rail, aviation, marine and pipeline incidents