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Drastic measures needed if insurance sector is to reinvent itself: KPMG report

June 13, 2016 by Canadian Underwriter

Only half of global insurers polled believe that they are capable of extracting and sustaining value from business transformation initiatives, with 57% admitting that their transformation efforts to date have been “less than successful,” according to a new report from

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University of Calgary case highlights criminal demands for computer ‘ransom’

June 10, 2016 Steve Lambert - THE CANADIAN PRESS

Ransomware attacks, such as one that recently saw the University of Calgary pay cyber criminals $20,000 to unlock its computer systems, are on the rise around the globe. Government and industry experts say at small businesses, at hospitals and even

News CatastrophesInsuranceTechnology

Province of Alberta introduces new website, improved mobile app to help manage flood risk

June 10, 2016 by Canadian Underwriter

The government of Alberta has introduced a new website and updated mobile app to help “keep Albertans informed and allow municipalities to respond faster and more efficiently if conditions change.” Although Alberta Environment and Parks (AEP) noted in a press

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GM Canada announces expansion of work on autonomous and connected vehicle technology

June 10, 2016 by Canadian Underwriter

General Motors (GM) Canada announced on Friday an expansion of its engineering and software work in the country to support the development of “innovative new automotive systems and technologies for the future.” GM said in a press release that it

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Ontario’s Region of Waterloo gives green light to non-traditional taxis

June 10, 2016 by Canadian Underwriter

The Region of Waterloo in Ontario announced earlier this week that a new taxi bylaw, set to be implemented in October, will include “consistent insurance requirements for traditional and non-traditional taxis.” The bylaw will also include new licensing ratios and

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U.K. penetration testing firm hacks into SUV through mobile app

June 9, 2016 by Canadian Underwriter

United Kingdom-based Pen Test Partners LLP said recently that it has hacked into a Mitsubishi Outlander plug-in hybrid electric vehicle (PHEV) through a mobile app. Pen Test Partners said in a blog post on June 5 that while most remote

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Increasing adoption of cloud services primary driver of growth in global critical infrastructure protection market: research

June 9, 2016 by Canadian Underwriter

The increased adoption of cloud-based services among enterprises is the primary driver for growth in the global critical infrastructure protection market, according to global market research company Technavio. Research analysts at Technavio predicted on Wednesday that the global critical infrastructure

News Climate ChangeInsuranceLegislation / RegulationTechnology

Government of Newfoundland and Labrador to monitor greenhouse gas emissions for two years to help form reduction targets

June 9, 2016 by Canadian Underwriter

The government of Newfoundland and Labrador has announced a plan for greenhouse gas (GHG) emissions reductions that involves monitoring to help form reduction targets. The Government of Newfoundland and Labrador’s Executive Council said in a press release on Tuesday that

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Driving while talking on a hands-free phone can be as distracting as talking on hand-held mobile: study

June 8, 2016 by Canadian Underwriter

Driving while talking on a hands-free phone can be as distracting as talking on a hand-held mobile, according to a study from researchers at the University of Sussex in the United Kingdom. The study, titled Imagery-inducing distraction leads to cognitive

News CatastrophesInsuranceTechnology

Need exists to embrace all tools, including social media, to enhance emergency management and response

June 8, 2016 Angela Stelmakowich, Editor

Social media can serve as an important tool in a scattergun approach that helps the public to be better informed, further engaged and more prepared in the event of an emergency or disaster, suggests Melanie Irons, PhD, psychology lecturer with

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University of Calgary pays ransom after attack on computer systems

June 8, 2016 The Canadian Press

CALGARY – The University of Calgary says it paid a ransom of $20,000 demanded after a recent cyberattack. The school says in a news release that staff were able to isolate some of the attack and are working to ensure

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Businesses wait for damaging cyberattacks before taking action: study

June 8, 2016 by Canadian Underwriter

Two-thirds of respondents to a global study commissioned by technology and innovation company Raytheon have indicated that not until there is a “significant data loss” from an IT security breach are their organizations motivated to engage a vendor. Don’t Wait: