Topic
Technology
Fintech sector in Canada not reaching full potential: Competition Bureau of Canada
May 1, 2017 by Canadian UnderwriterThe fintech sector in Canada is not reaching its full potential, in part because of consumer complacency and a lack of trust in new alternatives to the big banks, according to a new summary from the Competition Bureau of Canada.…
Ontario brokers voice support for provincial commitment to electronic proof of insurance
April 28, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) has welcomed the provincial government’s budget pledge to give drivers the option of electronic proof of insurance, a move IBAO suggests will help make insurance more affordable for consumers. The advance is part…
Federal government invests $2.5 million to examine Canadian start-ups
April 28, 2017 by Canadian UnderwriterThe Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced a “non-repayable contribution” of up to $2.5 million to Wilfrid Laurier University in Waterloo, Ont. to support a national “scale-up data platform.” The platform will “capture and track…
Cyberespionage and ransomware attacks on the increase, report warns
April 27, 2017 by Canadian UnderwriterCyberespionage is now the most common type of attack seen in the global manufacturing, education and now public sectors, a new report has revealed. According to the Verizon 2017 Data Breach Investigations Report (DBIR), released on Thursday, ransomware is now…
Judge orders Volkswagen to pay $2.1B in Canadian class action suit over emissions scandal
April 27, 2017 Aleksandra Sagan - THE CANADIAN PRESSTORONTO – Members of a Canadian class-action lawsuit against Volkswagen can submit claims for reimbursement starting on Friday after an Ontario court approved a $2.1-billion settlement plan. The 105,000 people who purchased or leased certain Volkswagen or Audi vehicles with…
Known, hidden risks in supply chains demand an overall strategy for evaluating and mitigating risk: QBE
April 26, 2017 Angela StelmakowichPHILADELPHIA – The multitude and variety of risks are becoming more predictable, indicating multinational and domestic companies can benefit from taking a look at how global interdependence affects each link of their supply chain, says Jamie Luce, senior vice president,…
FCA, Google begin offering rides in self-driving cars
April 25, 2017 Dee-Ann Durbin - THE ASSOCIATED PRESSDETROIT – Fiat Chrysler and Google for the first time will offer rides to the public in the self-driving vehicles they are building under an expanding partnership. The companies announced in the spring of last year that they would build…
New phishing scams aimed at accessing direct deposit funds emerging: Beazley
April 25, 2017 by Canadian UnderwriterPhishing scams aimed at accessing direct deposit funds have emerged as a new danger in 2017, specialist insurer Beazley said on Tuesday. Phishing scams aimed at accessing specific employee tax information were a continuing threat, representing 9% of all breaches…
Silent cyber a big issue, most companies with insurance book have exposure: AIR Worldwide’s Stransky
April 25, 2017 Angela StelmakowichPHILADELPHIA – Silence is decidedly not golden when it comes to cyber risk, Scott Stransky, assistant vice president and principal scientist for AIR Worldwide, suggested to Canadian Underwriter in advance of the RIMS 2017 Annual Conference & Exhibition. Silent cyber…
Global organizations spending almost four times more budget on property-related risks than cyber risks: Aon/Ponemon report
April 25, 2017 by Canadian UnderwriterGlobal organizations are spending nearly four times more budget on property-related risks than cyber risks, according to a report released on Tuesday by the Ponemon Institute and sponsored by Aon plc. The 2017 Cyber Risk Transfer Comparison Global Report also…
42% of global CEOs have begun digital business transformation: Gartner
April 25, 2017 by Canadian UnderwriterMore than four in 10 CEOs around the globe have begun the process of digital business transformation, according to a new study from Gartner, Inc., an information technology research and advisory company based in Stamford, Conn. Mark Raskino, vice president…
Risk professionals should move to fill the understanding gap around disruptive technologies
April 24, 2017 Angela StelmakowichPHILADELPHIA – Risk managers will need to take the lead in organizational efforts to address complex challenges and opportunities in an environment that increasingly features rapidly advancing disruptive technology risks, suggests a joint report from broker and risk advisor Marsh…