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…
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…
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…
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,…
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…
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…
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.…
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…
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…
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…
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…
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…