Canadian Underwriter

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Technology


News InsuranceLegalMergers and AqcuisitionsTechnology

Air bag inflator recall to grow by 35 million to 40 million

May 5, 2016 Tom Krisher and Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – Takata will recall another 35 million to 40 million air bag inflators, a stunning increase that will more than double what is already the largest automotive recall in American history, the federal government announced Wednesday. The recall expansion

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Uber gets green light from city council to operate legally in Toronto

May 4, 2016 The Canadian Press

TORONTO – Uber is voicing its thanks after Toronto city council gave the ride-hailing service the green light to operate legally in the city. In a message to those who use its app, Uber said Toronto Mayor John Tory and

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them

May 4, 2016 by Canadian Underwriter

Aviva Canada announced on Wednesday that it has developed an “affordable and convenient insurance product that would bridge the insurance gap in Quebec,” if the provincial government decides to allow ridesharing programs. Aviva Canada, a provider of home, automobile, leisure/lifestyle

News InsuranceMergers and AqcuisitionsTechnology

Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars

May 3, 2016 by Canadian Underwriter

The multi-billion pound motor insurance industry in the United Kingdom faces a period of radical restructuring as a result of the advent of autonomously driving (AD) cars, with the number of crashes set to dramatically drop and insurance premiums set

News InsuranceMergers and AqcuisitionsTechnology

U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study

May 3, 2016 by Canadian Underwriter

Insurers that lead in digital shopping channels also lead in premium growth, according to the J.D. Power 2016 U.S. Insurance Shopping Study, released on Friday. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase

News InsuranceMergers and AqcuisitionsTechnology

Move over drones, driverless cars, unmanned ship up next

May 3, 2016 Julie Watson - THE ASSOCIATED PRESS

SAN DIEGO – It’s not only drones and driverless cars that may become the norm someday -ocean-faring ships might also run without captains or crews. The Pentagon on Monday showed off the world’s largest unmanned surface vessel, a self-driving 132-foot

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Business interruption insurance moving into IT realm: NetDiligence Cyber Risk Summit speaker

May 3, 2016 Jason Contant, Online Editor

More and more, the conversation surrounding business interruption (BI) is moving from the physical aspect of BI to the information technology side of things, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Miki Ho, senior underwriter in the

News InsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles will have “whole host of impacts” on municipalities: Insurance Telematics Canada speaker

May 3, 2016 Greg Meckbach, Associate Editor

Autonomous vehicles will “shrink” the auto insurance industry but could also increase liability risk for municipalities, speakers suggested at a recent conference in Toronto. “Over time, this is going to transform mobility and what cities look like,” said Stephen Buckley,

News InsuranceLegislation / RegulationTechnology

Mandatory privacy breach notification will ‘probably be in force’ in late 2017: Insurance Telematics Canada speaker

May 2, 2016 Greg Meckbach, Associate Editor

A Canada-wide regulation mandating disclosure of privacy breaches might not be in place until late 2017, an official with the Office of the Privacy Commissioner of Canada suggested Friday. In June, 2015, the Digital Privacy Act was passed into law.

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Loss of confidential information key to understanding interactions between crime and cyber coverage: conference speaker

May 2, 2016 Jason Contant, Online Editor

The loss of confidential information can be crucial to understanding the interactions between cyber and crime coverage, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Matthew Davies, assistant vice president of Chubb Insurance Company of Canada, said that

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Services related to telematics, not commercial vehicle itself, becoming more of a focal point

May 2, 2016 by Angela Stelmakowich

A transition is occurring in which the focus is not so much on commercial vehicles as on services, including those related to telematics, that are increasingly becoming available, Sandeep Kar, global automotive practice leader for Frost & Sullivan, suggested Friday

News InsuranceProfessional DevelopmentTechnology

Silicon Valley startup accelerator launches new insurance innovation platform

May 1, 2016 by Canadian Underwriter

The Plug and Play Tech Center, a Silicon Valley global technology accelerator and venture fund, announced that it has partnered with the world’s largest reinsurer – Munich Re – to create what it is calling the first ever accelerator program