Canadian Underwriter

Topic Technology

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Ontario Securities Commission, U.K. regulator sign co-operation agreement on fintech businesses

February 23, 2017 by Canadian Underwriter

The Ontario Securities Commission (OSC) and the United Kingdom’s Financial Conduct Authority (FCA) have signed a new agreement under which fintech businesses in both jurisdictions will be able to seek support from their financial regulators as they look to operate

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Global insurance CEOs concerned about skills shortages and related pace of technological change: PwC survey

February 22, 2017 by Canadian Underwriter

Insurance CEOs have the biggest concerns in the financial services industry over skills shortages and the related pace of technological change, according to a new survey from PwC. The survey, titled Ahead of the curve: Confronting the big talent challenges

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Confront risks of financial technologies to reap benefits: FINTRAC

February 22, 2017 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of Canada’s financial intelligence unit warns that regulators must grapple with the challenges of emerging financial technologies, some of which he says have been exploited by terrorism and organized crime. But while it’s necessary to safeguard

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Half of polled Canadian businesses suspect or know their firms have been hit by fraud in last year

February 22, 2017 by Canadian Underwriter

New survey findings indicate a disconnect between how many Canadian businesses have experienced fraud in the last year and the high level of confidence among business and C-suite executives regarding their ability to prevent such incidents. Half of the Canadian

News Mergers and AqcuisitionsTechnology

Global spending on worldwide cloud services and infrastructure to reach US$122.5 billion in 2017: International Data Corporation

February 21, 2017 by Canadian Underwriter

Worldwide spending on public cloud services and infrastructure will reach US$122.5 billion in 2017, an increase of 24.4% over 2016, suggested new research from Framingham, Mass.-based International Data Corporation (IDC). The new update to the IDC’s Worldwide Semiannual Public Cloud

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One in four U.S. consumers victim of healthcare data breach: Accenture

February 21, 2017 by Canadian Underwriter

Just over one in four consumers (26%) in the United States have had their personal medical information stolen from technology systems, according to results of a survey from Accenture released on Monday. The findings related to the U.S. portion of

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Cyber attack remains top business continuity concern, preparedness for all threats urged: Horizon Scan Report

February 21, 2017 by Canadian Underwriter

Cyber attack, data breach and unplanned IT and telecom outages are the greatest concerns among business continuity professionals, concludes the sixth annual Horizon Scan Report, released Tuesday. The top three concerns remain unchanged from the last report carried out by

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Nearly half of global insurers expect to acquire new technologies through M&A in the next three years: Willis Towers Watson survey

February 17, 2017 by Canadian Underwriter

Nearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies

News CatastrophesMergers and AqcuisitionsTechnology

Transport Canada urged to ‘identify appropriate mitigating strategies’ to reduce severity of derailments involving dangerous goods

February 17, 2017 by Canadian Underwriter

The federal transport department should study the factors involved in severity of train derailments involving dangerous goods, Transportation Safety Board of Canada said Thursday. TSB – a separate organization from Transport Canada that investigates rail, aviation, marine and pipeline incidents

News CatastrophesMergers and AqcuisitionsTechnology

Northbridge Insurance teams up with Alert Labs for pilot project with home water damage sensors

February 17, 2017 by Canadian Underwriter

Northbridge Insurance has teamed up with Alert Labs for a pilot project that provides customers up to $150 in annual savings on their home insurance if they purchase sensors aimed at protecting homes against water damage. The pilot project offers

News Mergers and AqcuisitionsTechnology

The Co-operators launches mobile app for clients to access and manage insurance information

February 16, 2017 by Canadian Underwriter

Guelph, 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

News Mergers and AqcuisitionsTechnology

Auto executive warns U.S. Congress it will be ‘pretty hard’ to make autonomous vehicles ‘safe in all conditions’

February 15, 2017 by Canadian Underwriter

Companies 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