Canadian Underwriter

Topic Technology

News CatastrophesMergers and AqcuisitionsTechnology

B.C. transportation ministry to use helicopter to clear Vancouver-area bridge cables of snow

December 19, 2016 by Canadian Underwriter

British Columbia’s Ministry of Transportation and Infrastructure announced on Friday that it will use a heavy-lift helicopter to clear cables on the Alex Fraser bridge of ice and snow. Over the past couple of weeks, chunks of ice were reported

News InsurersMergers and AqcuisitionsTechnology

U.S. personal auto industry showing signs of weakening underwriting and operating ratios: A.M. Best

December 19, 2016 by Canadian Underwriter

The personal automobile insurance industry in the United States is exhibiting signs of weakening underwriting and operating results, mainly driven by rising loss ratios, according to a new A.M. Best special report. A.M. Best reached this conclusion in its report,

News InsurersMergers and AqcuisitionsTechnology

U.S. private cyber insurance market capable of managing most risks: study

December 17, 2016 by Canadian Underwriter

The private cyber insurance market in the United States is capable of managing most risks, according to a new policy study from Washington, D.C.-based think tank R Street Institute. Released on Thursday, the study from R Street senior fellow Ian

News LegalMergers and AqcuisitionsTechnology

Cloud security company discovers new cyberattack targeting Office 365 business email users

December 15, 2016 by Canadian Underwriter

Experts with New York City-based cloud security platform Avanan reported on Wednesday that they have discovered a new cyberattack targeting business email users of Microsoft’s Office 365. Avanan said in a blog post that the phishing attack was found using

News LegalMergers and AqcuisitionsTechnology

California, Uber in legal showdown over self-driving cars

December 15, 2016 by Justin Pritchard and Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO – Uber is riding its self-driving cars into a legal showdown with California regulators. The ride-hailing company is refusing to obey demands by the state’s Department of Motor Vehicles that it immediately stop picking up San Francisco passengers

News LegalMergers and AqcuisitionsTechnology

Yahoo suffers world’s biggest hack affecting one billion users

December 15, 2016 by Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO – Yahoo has discovered a 3-year-old security breach that enabled a hacker to compromise more than 1 billion user accounts, breaking the company’s own humiliating record for the biggest security breach in history. The digital heist disclosed Wednesday

News Mergers and AqcuisitionsTechnology

Blockchain for enterprise applications market to reach US$19.9 billion by 2025: report

December 14, 2016 by Canadian Underwriter

The blockchain for enterprise applications market will reach US$19.9 billion by 2025, according to market intelligence firm Tractica. The Blockchain for Enterprise Applications report, released on Wednesday, said that annual revenue for enterprise applications of blockchain will increase from US$2.5

News LegalMergers and AqcuisitionsTechnology

U.S. government to require cars to be able to talk to each other

December 13, 2016 by Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – All new cars and light trucks would be able to talk wirelessly with each other, with traffic lights and with other roadway infrastructure under a proposal released Tuesday by the Department of Transportation. Officials say the technology holds

News EducationTechnology

Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report

December 13, 2016 by Canadian Underwriter

Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said

News ConstructionMergers and AqcuisitionsTechnology

Chubb introduces Cyber COPE, a new model for underwriting cyber insurance

December 13, 2016 by Canadian Underwriter

Chubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services

News Mergers and AqcuisitionsTechnology

Search and rescue crews in B.C. launch UAV pilot

December 12, 2016 by Canadian Underwriter

Emergency Management BC (EMBC) announced on Friday its endorsement of a one-year pilot project for the use of unmanned aerial vehicles (UAVs or drones) by search and rescue crews in Coquitlam and Kamloops. Minister of State for Emergency Preparedness Naomi

News Mergers and AqcuisitionsTechnology

Personal and health-related information most desirable breach target, big risk for insurance: KPMG speaker

December 12, 2016 by Angela Stelmakowich, Editor

Data breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber