Canadian Underwriter

Topic
Technology


Cybercrime is on the rise in Canada and companies can no longer ignore cyber insurance
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

Don’t let clients cheap out on cyber coverage

May 10, 2023 Philip Porado

As high-profile ransomware attacks continue to grab headlines, insurers providing directors and officers (D&O) coverage are concerned private company boards might not be managing cyber risk. “Are they allocating enough funds to cybersecurity? Are they going to have a lawsuit

Version of Michelangelo's painting "The Creation of Adam" depicting the development of generative AI and machine learning
News BrokersClaimsCommercial LinesInsuranceLegalTechnology

What your business clients need to know about generative AI risks

May 4, 2023 by David Gambrill

Commercial brokers and insurers should alert their business clients to new liability risks around intellectual property (IP), copyright and licensing associated with using generative artificial intelligence (AI) technologies like ChatGPT, Dall-E and Bard. “Generative AI is a type of artificial

A burnt out neighbourhood following the Fort McMurray, wildfire.
News CatastrophesClimate ChangeCommercial LinesInsuranceProductsRiskTechnology

How many Canadian properties are at high risk of wildfire?

May 2, 2023 by Jason Contant

Approximately 300,000 properties across Canada are at a high wildfire risk, with another million carrying a minor risk of being impacted by wildfires during the typical mortgage term, according to Vancouver-based software and data analytics company Minerva Intelligence Inc. Minerva

Vice pushing on both side of businessman to represent the hard insurance market
News BrokersCommercial LinesInsuranceMarkets / CoveragesTechnology

Brokers still worry about the hard market, but what’s next?

May 1, 2023 Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed

A broker being lifted up by her team and carriers.
News BrokersInsuranceTechnology

National Broker Survey: Top tech solution brokers want from carriers

May 1, 2023 Philip Porado

Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges

Smiling woman talking on phone while driving a car
News BrokersClaimsInsuranceRiskTechnology

How brokers can help curb distracted driving

April 26, 2023 by David Gambrill

Editor’s Note: This article has been updated show 83% would be motivated to stop distracted driving behaviours if offered an insurance  discount, and has updated Paul Stone’s title.   Brokers can help put a stop to distracted driving by making

Cyber thief in black gloves hides a stolen hard drive
News ClaimsClaims CanadaCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

Break-in at government office results in privacy breach

April 21, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says a break-in at its Department of Education, Culture and Employment headquarters in Yellowknife has resulted in a privacy breach affecting about 3,000 people. The government says the break-in occurred early on Sunday and

Data breach concept
News InsuranceMarkets / CoveragesTechnology

Northwest Territories government spent $716,000 to address cybersecurity breach

April 13, 2023 The Canadian Press

YELLOWKNIFE – The Northwest Territories government says it spent $716,000 to address a cyberattack in November. It says it signed two work orders under existing contracts to help with containment, investigation and response efforts. The territory says the cybersecurity threat

Hand of man driving car on the road
News InsuranceMarkets / CoveragesTechnology

Why Canadian drivers are increasingly turning to UBI

April 11, 2023 by Jason Contant

Canadian drivers are increasingly turning to usage-based insurance (UBI), particularly since the beginning of 2023, new data from rate aggregator RatesDotCa found. Quotes for UBI from the rate comparison site were up 18.22% year-over-year, RatesDotCa said Mar. 31. The data

News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

How underwriters are tackling cyber exposure in D&O policies

April 6, 2023 by Jason Contant

Underwriters are starting to address cyber exposure in directors and officers (D&O) policies, an insurtech told delegates at the NetDiligence Cyber Risk Summit in Toronto. “What we’re seeing is mandatory cybersecurity exposure questions on D&O submissions,” said Ben Davis, team

News BrokersInsuranceTechnology

Sales column: Want a client’s business? Just ask for it

April 5, 2023 Adam Mitchell

I recently heard radio hosts discussing actor and comedian Pete Davidson’s golden dating resume. They reached the conclusion he’s been in relationships with so many high-profile celebrities like Kim Kardashian and Ariana Grande not because he’s charming, self-deprecating or has

A data centre with multiple rows of servers
News Commercial LinesInsuranceMarkets / CoveragesRiskTechnology

One simple question your cyber clients can’t answer

April 4, 2023 by Jason Contant

Your cyber clients likely don’t know the answer to basic questions such as what is being done on a particular server, or even how many computer servers the company has, an expert from a cyber response and recovery firm said