Canadian Underwriter

Topic Technology

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Why Deloitte doesn’t anticipate a soft market ‘for the next few years’

August 15, 2022 by David Gambrill

Canada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,

Electric vehicle at a charging station
News Emerging RisksPersonal AutoTechnology

Unifor calls for national auto strategy, dedicated ministry to capture EV potential

August 12, 2022 by Ian Bickis - THE CANADIAN PRESS

TORONTO – Unifor is calling for a national auto strategy, and a dedicated federal government ministry to lead it, at a time of “significant and uncertain change” in the industry amid the transition to electric vehicles. The recommendations are contained

Concept of ransomware - businessman buying back data from a hacker
News CommercialCyberInsurersLoss ControlTechnology

Do your clients have enough (or any) coverage for ransomware attacks?

August 10, 2022 by Jason Contant

Businesses in Canada and the United States are increasingly concerned about how they will pay ransomware demands and more than half would like governments to cover damages when future attacks are linked to other nation states, according to a new

Concept of employee retention
News HRManagementOperationsTechnology

Where employers are having difficulty attracting and retaining talent

July 27, 2022 by Jason Contant

Attracting and retaining IT and digital talent remains the biggest challenge for companies around the world, and it’s an even bigger problem for employers than it was in 2021, according to a recent survey from WTW. IT/digital talent remains the

Digital fingerprint
News Business InterruptionClaimsCyberEmerging RisksLiabilityLoss ControlLoss TrendsRisk ManagersTechnology

Can multi-factor authentication beat smarter cybercriminals?

July 26, 2022 by Jason Contant

Multi-factor authentication (MFA) is becoming a standard requirement to obtain cyber insurance. But just as your clients are improving their insurability, cybercriminals too are designing their attacks around MFA. “It’s kind of like a game of Whack-a-Mole,” said Neal Jardine,

Cybersecurity threat to healthcare information
News ClaimsCyberNewfoundland & LabradorTechnology

At least 37,800 people affected by cyberattack last year on N.L. healthcare system

July 22, 2022 by The Canadian Press

ST. JOHN’S, N.L. – About 37,800 people in Newfoundland and Labrador have been sent privacy breach notices stemming from a cyberattack last year on the province’s healthcare system, a spokesperson with the Eastern Health authority said Thursday. The letters were

A cell phone displaying a Rogers service interruption alert
News Business InterruptionClaimsLegalLiabilityQuebecTechnology

Class action lawsuit seeks damages for Rogers network outage

July 12, 2022 by Jason Contant

Quebec law firm LPC Avocat Inc. has launched a class action lawsuit alleging misrepresentation, breach of civil liability and negligence in connection with the recent national Rogers outage. In the early morning hours of Friday, July 8, Rogers’ wireless network

Hand holding a light bulb symbolizing digital innovation
News BrokersCommercialInsurersTechnology

Where digital transformation goes wrong for the P&C industry

July 7, 2022 by Jason Contant

Canada’s P&C insurance industry needs to get back to basics — unmet customer needs — when designing tech-enabled digital strategies and products, speakers said last week during an industry webinar. Too often, carriers or other industry stakeholders get involved in

Tesla autopilot
News ClaimsEmerging RisksLegalLiabilityPersonal AutoTechnology

U.S. regulator upgrades Tesla Autopilot crash analysis

June 30, 2022 by Philip Porado

A National Highway Traffic Safety Administration (NHTSA) preliminary analysis (PA) into Tesla’s Autopilot system was upgraded to an engineering analysis (EA) earlier this month. The EA will “extend the existing crash analysis, evaluate additional data sets [and] perform vehicle evaluations,”

Cropped shot of a young computer programmer looking through data
News CyberEmerging RisksInsurersOperationsRisk ManagersTechnology

What the regulator’s focus on digital risk means for you

June 27, 2022 by David Gambrill

Expect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the

Hacker attack and data breach
News ClaimsCommercialCyberInsurersLegalQuebecTechnology

Quebec court approves $200.9M settlement against Desjardins over data breach

June 20, 2022 by The Canadian Press

MONTREAL – The Superior Court of Quebec has approved a nearly $200.9-million settlement of a class-action lawsuit against Desjardins over a data breach – the largest to date in the Canadian financial services sector. Siskinds Desmeules and Kugler Kandestin say

News BrokersCommercialCyberMGAsTechnology

The future of cyber-security: MFA and beyond

June 17, 2022 by Jason Contant

Here’s some cyber security advice for your clients: time to install multi-factor authentication (MFA). In the future, that advice may morph to: Please send us a scan of all your tech vulnerabilities, so we can see what cybercriminals see. As