Topic Technology
Most companies unprepared for emergence of autonomous vehicles: Munich Re survey
July 19, 2016 by Canadian UnderwriterMost companies are unprepared for the emergence of autonomous vehicles (AVs), with 64% of polled risk managers saying that their companies have done nothing to prepare for the emergence of these vehicles in the auto market, according to a Munich…
Cyberattacks costing U.S. businesses US$3.5 million annually, 79% of businesses lack strategies to manage these risks: Ponemon Institute
July 18, 2016 by Canadian UnderwriterExternal cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect. Despite acute…
Posting vacation plans, pictures could put polled Quebecers’ home security at risk: Allstate Canada
July 18, 2016 by Canadian UnderwriterInforming everyone via social media just how great a vacation is or is going to be could be putting Canadians’ largest investments – their homes – at risk of breaches in home security, notes a new survey issued Monday by…
Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million
July 15, 2016 by Canadian UnderwriterBermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the…
Persisting low interest rates, regulatory cost concerns expected to result in lower returns: U.S. insurers
July 15, 2016 by Canadian UnderwriterAbout three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions…
Flight-following software ‘not used as intended’ as airplane hit by severe turbulence in thunderstorm: TSB
July 13, 2016 by Canadian UnderwriterThe Transportation Safety Board of Canada recently released an investigation report into a severe turbulence incident in southwestern Ontario, in which the crew of an American airline flew into a line of thunderstorms, temporarily lost control of their airplane and…
Ontario to build almost 500 electric charging stations across the province to help reduce greenhouse gas pollution and fight climate change
July 13, 2016 by Canadian UnderwriterOntario is building nearly 500 electric charging stations at more than 250 locations across the province in a bid to help reduce greenhouse gas pollution and fight climate change, the provincial Ministry of Transportation (MTO) said on Wednesday. The ministry…
U.S. telematics, UBI face market limits, value-added services may be key to growth: Novarica
July 13, 2016 by Canadian UnderwriterA focus on services-based programs, and not discounts, will be a crucial differentiator for telematics and usage-based insurance (UBI) in the United States as insurers look to increase customer adoption and market growth, research and advisory firm Novarica said in…
Vulnerability allows printer watering hole attacks to spread malware: Vectra Networks
July 13, 2016 by Canadian UnderwriterResearchers at the Vectra Threat Labs have discovered a critical vulnerability in Microsoft Windows that enables attackers to gain system-level control over computers via infected or fake printer drivers to spread malware. “The vulnerability stems from a Windows process that…
Feds seek Autopilot data from Tesla in crash probe
July 13, 2016 by Tom Krisher - THE ASSOCIATED PRESSDETROIT – Federal safety investigators are asking electric car maker Tesla Motors for details on how its Autopilot system works and why it failed to detect a tractor trailer that crossed its path in a Florida crash. The National Highway…
Impact Forecasting launches new cat modelling platform, including new flood models for Canada
July 12, 2016 by Canadian UnderwriterImpact Forecasting announced on Tuesday that it has launched ELEMENTS 10, its complete catastrophe modelling platform, which includes new flood models for Canada. ELEMENTS 10 offers the ability to run insurers’ own or third-party model, plus access to new flood…
Shake-ups expected in sectors of wearable technology market: report
July 11, 2016 by Canadian UnderwriterDespite the total core wearable technology market growing to more than US$150 billion by 2026, independent market research company IDTechEx predicts “shake-ups in several prominent sectors, with commoditization hitting hard.” IDTechEx said in its Wearable Technology 2016-2026 report, released on…