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Insurers increasingly concerned about “silent cyber” exposure: Willis Re poll

September 12, 2017 by Canadian Underwriter

About half of polled insurance industry practitioners see the risk of “silent cyber” exposure – potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk – as growing over the coming year, according

News ConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Construction industry ‘particularly vulnerable to cybercrime,’ Northbridge warns

September 12, 2017 by Canadian Underwriter

Large and small construction contractors are vulnerable to cyber crime, with “smart” building devices and lucrative engineering drawings in particular presenting vulnerabilities, Northbridge Insurance warns. “Major advancements in digital connectivity have left the construction industry particularly vulnerable to cybercrime,” Northbridge

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

OneEleven and Aviva Canada to host Canada’s “first ever” DisasterTech Hackathon

September 12, 2017 by Canadian Underwriter

OneEleven, described as “North America’s largest scaleup innovation hub,” and Aviva Canada have announced that a 48-hour DisasterTech Hackathon will be held next month in Toronto. The event will kick off at OneEleven’s office at 325 Front St. West in

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Global insurers struggle with regulatory and accounting compliance: study

September 11, 2017 by Canadian Underwriter

As insurance firms invest in more complex securities, they struggle to manage data and meet regulatory reporting requirements, a newly released study has found. Addressing local regulation and accounting standards is the leading operational challenge when it comes to firms’

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

New software can detect when people text and drive: University of Waterloo

September 11, 2017 by Canadian Underwriter

Computer algorithms developed by engineering researchers at the University of Waterloo (UoW) in Ontario can accurately determine when drivers are texting or engaged in other distracting activities, the university reported on Friday. The system uses cameras and artificial intelligence (AI)

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

TSB calls for mandatory stall warning devices in commercial de Havilland DHC-2 airplanes

September 11, 2017 by Canadian Underwriter

The Transportation Safety Board of Canada said Thursday it is recommending that stall warning systems be mandated for all de Havilland DHC-2 single-engine Beaver airplanes, a recommendation the Federal Aviation Administration made in 2008 after six tourists died in a floatplane

News AssociationsCatastrophesClaimsInsuranceMergers and AqcuisitionsTechnology

Third-party drone services developing, immediate post-incident use still a challenge

September 8, 2017 by Angela Stelmakowich

A trend seems poised to take flight whereby companies in need of drone services to gain specific insights will increasingly tap the expertise of third-party providers. “I think third-party companies who provide services utilizing drones will be more common than

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Equifax says U.S.-focused theft of data touched ‘certain’ Canadian residents

September 8, 2017 The Canadian Press (CPSTF)

TORONTO – Credit monitoring company Equifax says that it will work with regulators in Canada and the United Kingdom to determine the appropriate steps following a lapse in cyber security that’s affecting about 143 million people in the United States.

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProductsTechnology

Shipments of “connected wearables” up 75.1 million devices to 96.5 million last year: Berg Insight

September 7, 2017 by Canadian Underwriter

Shipments of connected wearables will reach 262.5 million in 2021, with Bluetooth remaining the primary connectivity option in the coming years, Internet of Things (IoT) analyst firm Berg Insight said in a statement on Thursday. The Gothenburg, Sweden-based machine-to-machine/IoT market

News Legislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

U.S. House of Representatives passes bill to speed deployment of self-driving cars

September 7, 2017 Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – The House voted Wednesday to speed the introduction of self-driving cars by giving the federal government authority to exempt automakers from safety standards not applicable to the technology, and to permit deployment of up to 100,000 of the

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Security software, data back-up most important elements of U.S. cybersecurity policies: Clutch survey

September 7, 2017 by Canadian Underwriter

Almost all polled large employers in the United States have a cybersecurity policy in place, with required security software and how to back up data being the most important elements of the policy, a recent study from research company Clutch

News InsuranceMarkets / CoveragesTechnology

Endeavour, Advent Claims partner to support Lloyd’s coverholders in Canada

September 7, 2017 by Canadian Underwriter

Advent Claims will provide its claims management system to Lloyd’s broker, Endeavour Insurance Services, as part of a new partnership arrangement meant to support London market coverholders operating in Canada. Advent Claims is a technology-led claims third-party administrator; Endeavour Insurance