Topic Technology
Chubb expands global cyber facility with multi-line peril endorsements
February 14, 2017 by Canadian UnderwriterChubb has announced the availability of new property and casualty endorsements for its Global Cyber Facility aimed at helping risk managers and chief information security officers (CISOs) address exposure gaps in their organizations’ insurance portfolios and best respond to C-suite…
CEOs “particularly” anxious about data breaches: PwC survey
February 13, 2017 by Canadian UnderwriterNearly one in four chief executive officers surveyed by PriceWaterhouseCoopers “strongly agree” that how their firms manage people’s data will “differentiate” their companies. “CEOs are particularly anxious that breaches in data security and ethics, and IT outages and disruptions could…
IBM’s famed Watson computer ‘gets a job’ fighting cybercrime threat
February 13, 2017 by Kevin Bissett - THE CANADIAN PRESSFREDERICTON – A year after IBM began teaching its Watson computer system to fight cybercrime, the company is making the platform available for use. “Now he gets a job and makes us some money,” quipped Caleb Barlow, vice-president of IBM…
Personal, commercial drone market revenue expected to increase 34% to reach US$6 billion+ in 2017: Gartner
February 13, 2017 by Canadian UnderwriterProduction of drones for personal and commercial use is growing rapidly, with global market revenue expected to increase 34% to reach more than US$6 billion in 2017 and more than US$11.2 billion by 2020, according to a new forecast from…
Commonwell Mutual Insurance Group offers new flood policy endorsement for Ontario homeowners
February 13, 2017 by Canadian UnderwriterCommonwell Mutual Insurance Group has a new policy endorsement that uses geo-coding to provide Ontario homeowners in low- and medium-risk zones with protection against property damage from flooding, surface water and sewer back-up caused by flood events. Starting Feb. 13,…
IT decision makers, C-suite executives each believe the other is responsible for cyber breaches: study
February 10, 2017 by Canadian UnderwriterIT decision makers and C-suite executives each believe the other is responsible in the event of a cyber breach, according to new research from BAE Systems, a provider of technology defence, aerospace and security solutions. According to BAE Systems’ 2017…
Hacking of driverless cars a concern for mining industry: Deloitte
February 10, 2017 by Canadian UnderwriterThe exploration plans of Canadian mining firms are among the “prime” targets for hackers, while autonomous vehicles used by miners could be influenced by computer viruses, Deloitte Touche Tohmatsu Ltd. warned in a recent report. “Malicious viruses, like Stuxnet, explicitly…
Kaspersky finds “invisible” cyberattacks in 40 countries using legitimate software
February 10, 2017 by Canadian UnderwriterGlobal cybersecurity company Kaspersky Lab has reported that it has found “invisible” cyberattacks in 40 countries, attacks that are using only legitimate software. The series of targeted attacks use “widely available penetration-testing and administration tools, as well as the PowerShell…
IBAO, Insurance Institute of Ontario hosting live webcast on driverless cars
February 7, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) and the Insurance Institute of Ontario announced on Tuesday that they will be hosting a live webcast on the insurance implications of automated vehicles on Feb. 16. The webcast, which will run from…
Chubb enhances Master Equipment Breakdown insurance policy for Canadian customers
February 7, 2017 by Canadian UnderwriterChubb announced on Tuesday that is has enhanced its Masterpiece Equipment Breakdown insurance policy to “better protect customers against problems associated with the sudden or accidental breakdown of residential equipment.” Available to customers with an existing Canadian Masterpiece Homeowners, Condominium…
Hannover Re, Generali Group and SCOR join blockchain insurance industry initiative B3i
February 6, 2017 by Canadian UnderwriterHannover Re, Generali Group and SCOR announced on Monday that they have joined the blockchain insurance industry initiative B3i, bringing the total number of insurers and reinsurers in the initiative to 15. Members of the B3i initiative will explore the…
Global IoT insurance market to reach nearly US$43 billion by 2022: study
February 6, 2017 by Canadian UnderwriterThe global Internet of Things (IoT) insurance market is estimated to grow dramatically at a compound annual growth rate (CAGR) of 65.89% to reach US$42.76 billion by 2022 from 2016, according to a new report from Research and Markets. The…