Topic Technology
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…
B.C. government launches incentives for zero-emission vehicles
February 6, 2017 by Canadian UnderwriterBritish Columbia’s Minister of Energy and Mines has announced an investment of $40 million to encourage British Columbians to “make the switch to zero-emission vehicles, reduce greenhouse gas emissions and support investment in made-in-B.C. green technology.” Bill Bennett announced the…
Court orders review of Target security breach settlement
February 3, 2017 by David Pitt - THE ASSOCIATED PRESSDES MOINES, Iowa – A Minnesota federal judge must hold hearings to determine whether a proposed settlement for about 100 million Target customers who were victims of a 2013 security breach treats all customers fairly, a federal appeals court says.…
Self-driving car prototypes need less human help, data show
February 2, 2017 by Justin Pritchard - THE ASSOCIATED PRESSLOS ANGELES – Self-driving car prototypes appear to be getting better at negotiating California streets and highways without a human backup driver intervening, according to data made public Wednesday by California transportation regulators. The data reflect safety-related incidents reported by…
Drone operators risk lawsuits, criminal charges for privacy breaches: OIAA speaker
February 1, 2017 by Greg Meckbach, Associate EditorThe new tort of intrusion upon seclusion is “a big deal for drone operators,” and experts on operating drones will be “key to helping a court” determine the standard of care in negligence lawsuits, a lawyer suggested at a recent…
Reinsurers face challenging market conditions, technology to play important role: Novarica
January 31, 2017 by Canadian UnderwriterReinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake…
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56…
Firewall efficacy improved with use of firewall management tools: study
January 30, 2017 by Canadian UnderwriterUse of firewall management tools has resulted in fewer breaches, increased productivity and the ability to respond to a breach in less than an hour, suggests a commissioned report released last week by U.S.-based FireMon. Automate Zero Trust Policy and…
Soft and hard disruptors will vastly transform Canadian collision industry in next 10 years: CCIF speaker
January 27, 2017 by Jason Contant, Online EditorThe Canadian collision industry will be “ripped apart beyond belief” in a decade by several disruptors, including connected autonomous vehicles and ridesharing, a speaker suggested Friday at the Canadian Collision Industry Forum (CCIF) meeting in Vaughan, Ont. Andrew King, managing…
Canadian railways need ‘physical fail-safe capabilities’ to reduce collision risk: TSB
January 26, 2017 by Canadian UnderwriterThe Transportation Safety Board of Canada reiterated Wednesday its recommendation for “additional physical defenses” on railways in case crews fail to obey signals. On Sept. 6, 2015, a Canadian Pacific freight train enroute from Revelstoke, B.C. to Saskatchewan hit a…