Topic
Technology
The Co-operators launches mobile app for clients to access and manage insurance information
February 16, 2017 by Canadian UnderwriterGuelph, Ont.-based The Co-operators announced on Thursday that it has launched a new mobile app providing clients with a “quick, easy and secure way” to access and manage their insurance information. With the free app, available through iTunes and Google…
Auto executive warns U.S. Congress it will be ‘pretty hard’ to make autonomous vehicles ‘safe in all conditions’
February 15, 2017 by Canadian UnderwriterCompanies aiming to deploy autonomous vehicles in the next few years are “typically” referring to vehicles that are only autonomous under certain conditions, such as good weather, a Toyota executive suggested this week to a subcommittee of the United States…
Only 43% of Canadian companies could detect a sophisticated cyberattack, EY study finds
February 15, 2017 by Canadian UnderwriterOnly 43% of Canadian companies could spot a “significant cybersecurity incident,” compared to 50% globally, according to EY’s Global Information Security Survey, released on Wednesday. The survey captured the responses of 1,735 participants around the globe from more than 20…
Ontario-based Pen Underwriting Canada launches cyber insurance product
February 15, 2017 by Canadian UnderwriterBurlington, Ont.-based Pen Underwriting Canada Limited announced on Wednesday that it has created a comprehensive cyber solution to respond to the “increasing threat that cybercrime poses for corporations.” Backed by A+ rated capacity, the specialist cyber product is designed for…
New York cyber rules could raise loss exposures for U.S. insurers: Fitch
February 15, 2017 by Canadian UnderwriterThe implementation of the New York Department of Financial Services’ (NYDFS) new cybersecurity regulations has the potential to underscore premium growth in cybersecurity insurance and directors and officers (D&O) insurance, but could also raise loss potential for insurers, Fitch Ratings…
8.4 billion “connected things” will be in use in 2017, up 31% from 2016: Gartner
February 14, 2017 by Canadian UnderwriterIT research and advisory company Gartner, Inc. is forecasting that 8.4 billion “connected things” will be in use worldwide in 2017, up 31% from 2016, and reaching 20.4 billion by 2020. The company added in a press release last week…
U.S. Congress committee warned that autonomous vehicles could ‘pose an avenue for terrorism’
February 14, 2017 by Canadian UnderwriterThe industry and regulators need to “think very broadly” around the cyber security of autonomous vehicles, and having autonomous cars operate in such a way that human drivers must be ready to take control can actually increase the risk of…
Most Canadian IT professionals report some security solutions “outdated and inadequate”: study
February 14, 2017 by Canadian UnderwriterMost IT professionals in Canada (73%) feel strongly that some of their security solutions are outdated and inadequate, according to the Canadian results of a global study released last week. The Need for a New IT Security Architecture: Global Study…
Zurich North America, Deloitte collaborating on cyber protection
February 14, 2017 by Canadian UnderwriterZurich North America and Deloitte reported on Tuesday that they are working together to provide services for customers to help them better understand and protect themselves from cyber related risks. Initial offerings include risk transfer options provided by Zurich and…
Chubb expands global cyber facility with multi-line peril endorsements
February 14, 2017 by Canadian UnderwriterChubb has announced the availability of new property and casualty endorsements for its Global Cyber Facility aimed at helping risk managers and chief information security officers (CISOs) address exposure gaps in their organizations’ insurance portfolios and best respond to C-suite…
CEOs “particularly” anxious about data breaches: PwC survey
February 13, 2017 by Canadian UnderwriterNearly one in four chief executive officers surveyed by PriceWaterhouseCoopers “strongly agree” that how their firms manage people’s data will “differentiate” their companies. “CEOs are particularly anxious that breaches in data security and ethics, and IT outages and disruptions could…
IBM’s famed Watson computer ‘gets a job’ fighting cybercrime threat
February 13, 2017 Kevin Bissett - THE CANADIAN PRESSFREDERICTON – A year after IBM began teaching its Watson computer system to fight cybercrime, the company is making the platform available for use. “Now he gets a job and makes us some money,” quipped Caleb Barlow, vice-president of IBM…