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More than half of Canadians believe their government-held personal data is at risk: Accenture study

May 11, 2016 by Canadian Underwriter

More than half of Canadians believe their personal and confidential information held by all levels of government is vulnerable to a security breach, whether it’s an unauthorized internal access or an external data hack and theft, according to results of

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Global market for business services using drones valued at more than US$127 billion: PwC

May 11, 2016 by Canadian Underwriter

The emerging global market for business services using drones is valued at more than US$127 billion, according to a report released earlier this week by PricewaterhouseCoopers (PwC). The “drone revolution” is disrupting industries ranging from agriculture to filmmaking, PwC said

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IBM to teach Watson computer system “language of cybersecurity”

May 10, 2016 by Canadian Underwriter

IBM Security has announced that eight universities – including three in Canada – will help train its Watson computer system on the “language of security” as part of a year-long research project. Watson for Cyber Security, a new cloud-based version

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Usage-based insurance expected to grow to 142 million subscribers globally by 2023 from 12 million in 2015, new report says

May 9, 2016 by Canadian Underwriter

Usage-based auto insurance (UBI) is expected to grow to 142 million subscribers globally by 2023, according to a new report from IHS Automotive, a part of IHS, Inc. and a source of information and insight to the global automotive industry.

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Economical Insurance activates multi-channel distribution with launch of direct channel

May 9, 2016 by Angela Stelmakowich

Economical Insurance’s new direct channel – part of an updated corporate strategy to position the company as among the top property and casualty insurers in the country – went live Monday morning. Economical Insurance has activated multi-channel distribution with the

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Intact’s assessment of insured damages from Fort McMurray wildfire estimated at $1 to $1.20 per share

May 9, 2016 by Canadian Underwriter

Intact Financial Corporation’s (IFC) assessment of its insured damages from the Fort McMurray wildfire using satellite imagery and its exposure geocoding technology ranges from $1 to $1.20 per share, the insurer said on Monday. The assessment range, while early, is

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In first-of-its kind collaboration, Google to integrate self-driving technology into 2017 Chrysler minivan

May 6, 2016 by Canadian Underwriter

For the first time, Google has announced that it will work directly with an automaker to integrate its self-driving system, including sensors and software, into a passenger vehicle. Earlier this week, Google said that it will integrate its self-driving technology

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Cyber criminals are even filtering out specific countries when designing cyberattacks; Canada has low threat exposure rate: Sophos research

May 5, 2016 by Canadian Underwriter

Network and endpoint security company Sophos Ltd. said that its research has revealed a growing trend among cyber criminals to target and even filter out specific countries when designing ransomware and other malicious cyberattacks. Research from SophosLabs, which includes information

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Insurance Institute of Canada issues “call to action” on driverless vehicles

May 5, 2016 by Canadian Underwriter

Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday

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Global insurers can now register for “cyber-safe” .insurance domain name

May 5, 2016 by Canadian Underwriter

Early registration for the “cyber-safe” .insurance domain name opened on Wednesday via Instra Corporation, the corporate domain name retailer subsidiary of London, United Kingdom-based CentralNic plc. The protected domain space for the insurance industry “promises enhanced security for tens of

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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

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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