Topic
Technology
Canadian companies lag in cybersecurity investments, survey finds
May 23, 2017 by Canadian UnderwriterMore than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that…
Resource risk top concern for wind energy sector: GCube Underwriting
May 23, 2017 by Canadian UnderwriterResource risk has surpassed mechanical and electrical breakdown to become the number one potential source of financial losses for onshore wind energy developers, owners and operators globally, suggests a new report from GCube Underwriting Ltd. Despite continued development and improvement…
“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers
May 19, 2017 by Canadian UnderwriterThere is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to…
Technology advances to change insurance value chain, offers chance to reboot
May 19, 2017 by Angela StelmakowichTechnology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new…
Child restraint systems in commercial aviation should be mandatory: TSB
May 19, 2017 by Canadian UnderwriterThe use of child restraint systems should be mandatory on commercial aircraft in Canada, the Transportation Safety Board of Canada reiterated Thursday in a report on an accident that injured 25. No child restraint systems were used (nor were they…
Autonomous vehicles will shrink U.S. auto OEM collision repair revenue by 48% by 2030: KPMG
May 18, 2017 by Canadian UnderwriterOriginal equipment manufacturers (OEMs) in the United States will see a 48% dent in their lucrative collision parts business as a result of self-driving cars, a new report from audit, tax and advisory firm KPMG. The report Will autonomous vehicles…
Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS
May 18, 2017 by Canadian UnderwriterThe global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying…
Autonomous vehicles will add US$81 billion in new premiums for U.S. auto insurers by 2025: report
May 18, 2017 by Canadian UnderwriterInsurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the auto insurance industry in the United States over the next eight years, according to a new report from Accenture and Stevens Institute of Technology (SIT). The…
Customer choice must be key consideration in next wave of insurTech: expert
May 18, 2017 by Angela StelmakowichAn insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the…
Biggest risk with mass email theft is phishing, malware distribution, NuData Security says following Bell Canada hack
May 17, 2017 by Canadian UnderwriterThe biggest risk with mass email theft is phishing and malware distribution, the vice president of business development with Vancouver-based NuData Security said in a statement on Wednesday, two days after Bell Canada confirmed an “illegal access” of customer information.…
TSB reiterates call for 300-metre runway end safety areas
May 17, 2017 by Canadian UnderwriterThe Transportation Safety Board of Canada reiterated Tuesday a warning that airplane passengers and crew are at risk of injury because not all Code 4 runways at Canadian airports have a 300-metre runway end safety area. TSB – a separate…
Many global Internet users unprepared for dealing with ransomware attack, study finds
May 17, 2017 by Canadian UnderwriterAs institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how…