Canadian Underwriter

Topic
Technology


News CatastrophesInsuranceTechnology

Flood Risk Canada launches live flood sensory system

July 29, 2016 by Canadian Underwriter

Flood Risk Canada, Inc. (FRC) has announced that it will be launching a new flood risk monitoring and prevention tool called “flood sensory system.” Deployed in floodways, the system monitors and alerts on the current water level activity, wind speed

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

The Co-operators reports net loss of $39.1 million in 2016 Q2 for Co-operators General Insurance Company

July 29, 2016 by Canadian Underwriter

Co-operators General Insurance Company, part of The Co-operators Group, took a hit from the devastating Fort McMurray wildfire, reporting a consolidated net loss of $39.1 million for 2016 Q2 compared to a net income of $58.2 million for 2015 Q2.

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Trillium Mutual obtains CSIO certification for personal lines eDocs

July 27, 2016 by Canadian Underwriter

The Centre for Study of Insurance Operations (CSIO) announced on Wednesday that Trillium Mutual Insurance Company has become the latest company to obtain CSIO certification for Personal Lines eDocs. When eDocs are used to their full potential, sending, receiving, sorting,

News CatastrophesInsuranceTechnology

University of Calgary professor using NASA satellite data to help forecast forest fires

July 26, 2016 by Canadian Underwriter

An engineering professor from the University of Calgary is using freely accessible satellite data from NASA to create five classes of forest fire risk to help accurately predict where these hazards might strike. Quazi Hassan, a geomatics engineering associate professor

News InsuranceLegalMergers and AqcuisitionsTechnology

Citing cyber ‘revolution,’ Obama issues attack response plan

July 26, 2016 Josh Lederman - THE ASSOCIATED PRESS

WASHINGTON – The White House warned Tuesday of a “revolution” of computer-generated threats to the U.S. stoked by growing cyber aggression by traditional U.S. foes like Russia and North Korea, and issued a colour-coded response plan for the federal government

News InsuranceMergers and AqcuisitionsTechnology

First five months of 2016 dominated by malicious email campaigns of unprecedented volume, new ransomware variants

July 26, 2016 by Canadian Underwriter

The first five months of 2016 were dominated by malicious email campaigns of unprecedented volume, with new ransomware variants emerging quickly and actors “repeatedly [shifting] tactics with new loaders, document attachment types and obfuscation techniques to evade detection,” according to

News InsuranceLegalMergers and AqcuisitionsTechnology

2016 malware levels nearly four times 2015 totals, cybersecurity company finds

July 22, 2016 by Canadian Underwriter

A security analyst team at AppRiver, a cloud-based cybersecurity company based in Gulf Breeze, Fl., has quarantined 4.2 billion emails containing malware in the second quarter of 2016, “pointing to a continued increase in malware traffic this year.” The emails

News InsuranceLegalMergers and AqcuisitionsTechnology

Pen Underwriting Canada’s e-traded D&O solution offers brokers fast quote-to-cover capability

July 22, 2016 by Canadian Underwriter

Pen Underwriting Canada’s newly launched e-trading platform allows brokers to quote and issue a policy within five minutes that provides directors and officers a broad range of D&O coverage to suit the fast-evolving risks and liabilities they face. Calling the

News InsuranceMergers and AqcuisitionsTechnology

Insurers should offer lower premiums to motorists who don’t use mobile phones while driving, U.K. survey finds

July 20, 2016 by Canadian Underwriter

Six in ten motor insurance policyholders in the United Kingdom say that avoiding any type of mobile phone use should be a top factor used by insurers in offering lower premiums, according to a new survey. The survey of 1,314

News InsuranceMergers and AqcuisitionsTechnology

Plans for self-driving cars have pitfall: the human brain

July 19, 2016 Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – Experts say the development of self-driving cars over the coming decade depends on an unreliable assumption by many automakers: that the humans in them will be ready to step in and take control if the car’s systems fail.

News InsuranceMergers and AqcuisitionsTechnology

Most companies unprepared for emergence of autonomous vehicles: Munich Re survey

July 19, 2016 by Canadian Underwriter

Most companies are unprepared for the emergence of autonomous vehicles (AVs), with 64% of polled risk managers saying that their companies have done nothing to prepare for the emergence of these vehicles in the auto market, according to a Munich

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Cyberattacks costing U.S. businesses US$3.5 million annually, 79% of businesses lack strategies to manage these risks: Ponemon Institute

July 18, 2016 by Canadian Underwriter

External cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect. Despite acute