Topic
Technology
Uber gets green light from city council to operate legally in Toronto
May 4, 2016 The Canadian PressTORONTO – 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…
Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them
May 4, 2016 by Canadian UnderwriterAviva 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…
Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars
May 3, 2016 by Canadian UnderwriterThe 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…
U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study
May 3, 2016 by Canadian UnderwriterInsurers 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…
Move over drones, driverless cars, unmanned ship up next
May 3, 2016 Julie Watson - THE ASSOCIATED PRESSSAN 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…
Business interruption insurance moving into IT realm: NetDiligence Cyber Risk Summit speaker
May 3, 2016 Jason Contant, Online EditorMore 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…
Autonomous vehicles will have “whole host of impacts” on municipalities: Insurance Telematics Canada speaker
May 3, 2016 Greg Meckbach, Associate EditorAutonomous 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,…
Mandatory privacy breach notification will ‘probably be in force’ in late 2017: Insurance Telematics Canada speaker
May 2, 2016 Greg Meckbach, Associate EditorA 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.…
Loss of confidential information key to understanding interactions between crime and cyber coverage: conference speaker
May 2, 2016 Jason Contant, Online EditorThe 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…
Services related to telematics, not commercial vehicle itself, becoming more of a focal point
May 2, 2016 by Angela StelmakowichA 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…
Silicon Valley startup accelerator launches new insurance innovation platform
May 1, 2016 by Canadian UnderwriterThe 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…
Joining Forces
May 1, 2016 Janice Deganis, Canadian Insurance Leader; and Ron Stokes, Canadian Financial Services Transactions Leader, EYThe consolidation trend continues in the property and casualty market in Canada, as carriers seek new product lines and distribution channels. But a sound integration plan, including technology, legal and actuarial processes, is just as important as selecting an acquisition target.