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Global IoT insurance market to reach nearly US$43 billion by 2022: study

February 6, 2017 by Canadian Underwriter

The global Internet of Things (IoT) insurance market is estimated to grow dramatically at a compound annual growth rate (CAGR) of 65.89% to reach US$42.76 billion by 2022 from 2016, according to a new report from Research and Markets. The

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Global consumers skeptical about safety of fully autonomous vehicles: Deloitte study

January 18, 2017 by Canadian Underwriter

Consumers around the world remain skeptical about the safety of fully autonomous vehicles and hold widely divergent views on who they trust to bring autonomous vehicles to market, according to a new study from Deloitte. The study, What’s ahead for

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Three Takata workers indicted, accused of hiding air bag defects

January 13, 2017 Tom Krisher, Dee-Ann Durbin and Ed White - THE ASSOCIATED PRESS

DETROIT – A federal grand jury in Detroit has indicted three former employees of Takata Corp., charging them with concealing deadly defects in the Japanese company’s automotive air bag inflators. The indictments on six counts of conspiracy and wire fraud

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Worldwide spending on 3D printing to reach US$29 billion in 2020: International Data Corporation

January 12, 2017 by Canadian Underwriter

Worldwide purchases of 3D printers, materials, software, and related services are expected to experience a five-year compound annual growth rate (CAGR) of 22.3%, with revenues reaching US$28.9 billion in 2020, according to the International Data Corporation (IDC). Earlier this week,

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2016 costliest 12 months for natural catastrophes in the last four years: Munich Re

January 4, 2017 by Canadian Underwriter

The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday

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Telematics subscribers using embedded systems to reach 170 million worldwide by 2021, from 26.5 million at the end of 2015: report

December 21, 2016 by Canadian Underwriter

The number of telematics service subscribers using embedded systems will grow at a compound annual growth rate (CAGR) of 36.4% from 26.5 million subscribers at the end of 2015 to 170.2 million subscribers at the end of 2021, according to

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At least 14 people injured after Japan earthquake

November 22, 2016 by Canadian Underwriter

At least 14 people have been injured by a strong earthquake that struck off Japan’s northeast coast early Tuesday morning, the Associated Press has reported. The earthquake – registering between magnitude 6.9 and 7.4 – struck at about 6 a.m.

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Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period

October 27, 2016 by Canadian Underwriter

The Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first

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Typhoon Lionrock brings landslides and flooding to Japan

August 31, 2016 by Canadian Underwriter

Typhoon Lionrock has made landfall in Japan, bringing the intensity of a Category 1 hurricane with resulting landslides and flooding. The typhoon made landfall in the Tohoku region of Japan on Tuesday evening, near the city of Ofunato in Iwate

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Typhoon Lionrock to make landfall in Japan

August 29, 2016 by Canadian Underwriter

A typhoon with wind gusts up to 210 kilometres per hour is expected to make landfall in Japan Tuesday night local time, Aon Benfield’s Impact Forecasting unit reported Monday. As of Monday morning, Typhoon Lionrock was about 570 kilometers south-southeast

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Total worldwide economic losses for first half of 2016 at US$70 billion, up US$11 billion from 2015 half-year totals: Munich Re

July 12, 2016 by Canadian Underwriter

Total worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said

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Canadian insurance industry looking to partner with government to establish new capital framework for managing earthquake risk: CIFF speakers

May 27, 2016 Jason Contant, Online Editor

There is a need to formalize the role that government can play in helping to manage the financial impact of a “mega cat,” speakers suggested on Wednesday at the Canadian Insurance Financial Forum (CIFF) in Toronto. “We are well-capitalized for