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Government’s response to 2015 OPM data breach hasn’t improved U.S. federal agencies’ security: study

May 19, 2016 by Canadian Underwriter

More than half of polled federal cyber executives in the United States said they don’t agree that the government’s response to last summer’s massive Office of Personnel Management (OPM) data breach has improved their agency’s security. The State of Cybersecurity

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Insurance websites not keeping pace with changing customer expectations: J.D. Power

May 19, 2016 by Canadian Underwriter

Insurer websites are not keeping up with customer expectations, with just over half (55%) of those polled saying they “definitely will” return to the site for their servicing needs, according to the J.D. Power 2016 Insurance Digital Evaluation Study, released

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

UberX drivers expected to have commercial insurance: Shop Insurance Canada

May 19, 2016 by Canadian Underwriter

UberX drivers using personal policies while operating as a paid ride-share operative are breaking the law and need to check with their insurance providers to ensure they have appropriate coverage, suggests Shop Insurance Canada. “If a vehicle is used for

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Big data and analytics, cloud computing, mobility solutions and tech start-up firms driving U.S. insurance IT spending market

May 19, 2016 by Canadian Underwriter

Big data and analytics, cloud computing, mobility solutions and tech start-up firms are among the emerging trends driving the insurance IT spending market in the United States, according to global technology research and advisory company Technavio. Technavio’s report on the

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Alberta introduces new regulations for ride for hire firms like Uber

May 18, 2016 The Canadian Press

EDMONTON – The Alberta government has introduced new rules to regulate ride-hailing companies such as Uber. Transportation Minister Brian Mason says that under Bill 16, anyone who wants to drive for such a company will have to have a professional

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Guy Carpenter forms strategic alliance with Symantec to develop cyber aggregation model

May 18, 2016 by Canadian Underwriter

Guy Carpenter & Company announced on Tuesday the formation of a strategic alliance with global cybersecurity company Symantec Corporation to create a cyber aggregation model. The model will include a comprehensive catalogue of cyber scenarios from which insurers can derive

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90% of U.S. businesses experienced hacking incidents in the last year: HSB cyber study

May 18, 2016 by Canadian Underwriter

Nine out of ten businesses in the United States have experienced at least one hacking incident in the past year, according to a survey released on Tuesday by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich

News Earnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Driverless cars could have significant credit impact across range of sectors, Moody’s report says

May 17, 2016 by Canadian Underwriter

Driverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

CCIR publishes issues paper on electronic proof of auto insurance

May 17, 2016 by Canadian Underwriter

The Canadian Council of Insurance Regulators (CCIR) announced on Monday that it has published an issues paper for public consultation on electronic proof of automobile insurance (EPAI). As electronic documentation becomes more prevalent in society – be it through smart

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Ontario politicians debate merits of mandating intelligent drive technologies

May 16, 2016 by Canadian Underwriter

The Ontario government would have the authority to make regulations mandating collision avoidance systems such as lane departure warning, in all vehicles registered starting in 2020, if a private member’s bill before the legislature is passed into law. Bill 192,

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Mobile app benefits discussed at Insurance Analytics Canada conference

May 16, 2016 Jason Contant, Online Editor

As one of the brokerages that was “significantly affected” by the Fort McMurray wildfires, Sharp Insurance was able to contact every single one of its clients using analytics, attendees to the Insurance Analytics Canada conference heard on Friday. “We were

News InsuranceMergers and AqcuisitionsTechnology

Pembridge Insurance Company launches first telematics program through broker channel in Alberta

May 16, 2016 by Canadian Underwriter

Markham, Ont.-based Pembridge Insurance Company announced on Monday that they have launched My_BRIDGE, what they are calling the first telematics program offered through the broker channel in Alberta. Pembridge said in a press release that the usage-based insurance (UBI) offering