Canadian Underwriter

Topic Technology

News Mergers and AqcuisitionsTechnology

Economical Insurance activates multi-channel distribution with launch of direct channel

May 9, 2016 by Angela Stelmakowich

Economical Insurance’s new direct channel – part of an updated corporate strategy to position the company as among the top property and casualty insurers in the country – went live Monday morning. Economical Insurance has activated multi-channel distribution with the

News CatastrophesMergers and AqcuisitionsTechnology

Intact’s assessment of insured damages from Fort McMurray wildfire estimated at $1 to $1.20 per share

May 9, 2016 by Canadian Underwriter

Intact Financial Corporation’s (IFC) assessment of its insured damages from the Fort McMurray wildfire using satellite imagery and its exposure geocoding technology ranges from $1 to $1.20 per share, the insurer said on Monday. The assessment range, while early, is

News Mergers and AqcuisitionsTechnology

In first-of-its kind collaboration, Google to integrate self-driving technology into 2017 Chrysler minivan

May 6, 2016 by Canadian Underwriter

For the first time, Google has announced that it will work directly with an automaker to integrate its self-driving system, including sensors and software, into a passenger vehicle. Earlier this week, Google said that it will integrate its self-driving technology

News LegalMergers and AqcuisitionsTechnology

Cyber criminals are even filtering out specific countries when designing cyberattacks; Canada has low threat exposure rate: Sophos research

May 5, 2016 by Canadian Underwriter

Network and endpoint security company Sophos Ltd. said that its research has revealed a growing trend among cyber criminals to target and even filter out specific countries when designing ransomware and other malicious cyberattacks. Research from SophosLabs, which includes information

News LegalMergers and AqcuisitionsTechnology

Insurance Institute of Canada issues “call to action” on driverless vehicles

May 5, 2016 by Canadian Underwriter

Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday

News EducationTechnology

Global insurers can now register for “cyber-safe” .insurance domain name

May 5, 2016 by Canadian Underwriter

Early registration for the “cyber-safe” .insurance domain name opened on Wednesday via Instra Corporation, the corporate domain name retailer subsidiary of London, United Kingdom-based CentralNic plc. The protected domain space for the insurance industry “promises enhanced security for tens of

News LegalMergers and AqcuisitionsTechnology

Air bag inflator recall to grow by 35 million to 40 million

May 5, 2016 by Tom Krisher and Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – Takata will recall another 35 million to 40 million air bag inflators, a stunning increase that will more than double what is already the largest automotive recall in American history, the federal government announced Wednesday. The recall expansion

News LegalMergers and AqcuisitionsTechnology

Uber gets green light from city council to operate legally in Toronto

May 4, 2016 by The Canadian Press

TORONTO – Uber is voicing its thanks after Toronto city council gave the ride-hailing service the green light to operate legally in the city. In a message to those who use its app, Uber said Toronto Mayor John Tory and

News LegalMergers and AqcuisitionsTechnology

Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them

May 4, 2016 by Canadian Underwriter

Aviva Canada announced on Wednesday that it has developed an “affordable and convenient insurance product that would bridge the insurance gap in Quebec,” if the provincial government decides to allow ridesharing programs. Aviva Canada, a provider of home, automobile, leisure/lifestyle

News Mergers and AqcuisitionsTechnology

Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars

May 3, 2016 by Canadian Underwriter

The multi-billion pound motor insurance industry in the United Kingdom faces a period of radical restructuring as a result of the advent of autonomously driving (AD) cars, with the number of crashes set to dramatically drop and insurance premiums set

News Mergers and AqcuisitionsTechnology

U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study

May 3, 2016 by Canadian Underwriter

Insurers that lead in digital shopping channels also lead in premium growth, according to the J.D. Power 2016 U.S. Insurance Shopping Study, released on Friday. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase

News Mergers and AqcuisitionsTechnology

Move over drones, driverless cars, unmanned ship up next

May 3, 2016 by Julie Watson - THE ASSOCIATED PRESS

SAN DIEGO – It’s not only drones and driverless cars that may become the norm someday -ocean-faring ships might also run without captains or crews. The Pentagon on Monday showed off the world’s largest unmanned surface vessel, a self-driving 132-foot