Canadian Underwriter

Topic Technology

News Mergers and AqcuisitionsTechnology

Auto insurers face long-term challenges from self-driving cars; avoidance technologies to benefit insurers: Moody’s

March 29, 2016 by Canadian Underwriter

Self-driving cars could translate into significantly lower premiums and profits in the long-term for auto insurers as the number of accidents declines dramatically, Moody’s Investors Service said on Tuesday. A new report from Moody’s – titled P&C Insurance – Global:

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Uncertain times highlight need for change at the CFO, finance levels: Deloitte

March 29, 2016 by Canadian Underwriter

An increasingly uncertain business climate means finance departments have just four to five years to modernize if they are to meet the rising expectations of the organizations they serve, suggests a report issued Tuesday by Deloitte. Chief financial officers (CFOs)

News InsurersLegalMergers and AqcuisitionsTechnology

Cyber risk, interest rates, economy remain major concerns for insurers: A.M. Best

March 28, 2016 by Canadian Underwriter

Concerns regarding cyber risk, interest rates and the economy remain prominent among insurers, according to the latest quarterly survey from A.M. Best Company. The Best’s Special Report, released on Thursday, included several hundred responses, representing property and casualty (70.4%), life

News Technology

Bill proposing mandatory insurance coverage for railways hauling dangerous goods reaches second reading

March 31, 2015 by Canadian Underwriter

A bill proposing to mandate specific levels of insurance for Canadian railway operators – of $1 billion in some cases – was tabled Monday in Ottawa for second reading in the House of Commons. MPs debated Bill C-52, the Safe

News Mergers and AqcuisitionsTechnology

Google to build a self driving car prototype with no steering wheel; will not be sold publicly

May 28, 2014 by Justin Pritchard - THE ASSOCIATED PRESS

LOS ANGELES – Google will build a car without a steering wheel. It doesn’t need one because it drives itself. The two-seater won’t be sold publicly, but Google said Tuesday it hopes by this time next year, 100 prototypes will

News CatastrophesTechnology

Evacuation zone remains in Halifax due to incident involving ‘weapons grade’ uranium

March 14, 2014 by Aly Thomson and Keith Doucette THE CANADIAN PRESS

Fire officials say an evacuation zone remained in place Friday at a port in Halifax after four steel cylinders carrying weapons-grade uranium fell about six metres the night before as they were being unloaded from a container ship, prompting a

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Federal unit ‘most likely’ needs more funding if emergency response plans mandated for flammable liquids transported by rail: Report

February 18, 2014 by Canadian Underwriter

A report recently submitted to Transport Minister Lisa Raitt notes that shipments of crude oil by rail have “risen exponentially” in recent years and but that the federal organization responsible for guidance on transportation of dangerous goods may not have

News Technology

CN defends safety record in face of three train derailments within a month

October 20, 2013 by The Canadian Press

GAINFORD, Alta. – CN Rail is defending its safety record after three high-profile derailments involving trains carrying hazardous materials within the space of a month while apologizing for the latest mishap. Thirteen cars on a CN (TSX:CNR) freight train carrying

News Technology

Fairfax Financial consortium signs US$4.7 billion deal to buy BlackBerry

September 23, 2013 by The Canadian Press

TORONTO – BlackBerry Ltd. has signed a deal to be bought by a consortium led by its largest shareholder in a deal valued at U$4.7 billion, the companies announced Monday. The consortium led by Fairfax Financial Holdings. Ltd., a Canadian

News CatastrophesMergers and AqcuisitionsTechnology

SGI cancels “green” rebate for fuel-efficient vehicles

April 25, 2012 by Canadian Underwriter

Saskatchewan motorists who drive environmentally friendly vehicles will no longer be receiving a provincial rebate. Saskatchewan Government Insurance (SGI) has cancelled the break on auto insurance for hybrid and fuel-efficient vehicles, first launched in 2008. SGI’s decision attracted some criticism

News Mergers and AqcuisitionsTechnology

Getting rid of distractions by getting rid of the drivers

March 12, 2012 by Canadian Underwriter

One way to prevent distracted driving is to take the drivers out of the equation and have the cars drive themselves, as noted in bloggers’ posts on And while this may seem like a technologist’s utopian fantasy, Nevada’s Legislative

News Mergers and AqcuisitionsTechnology

Repairs for hybrid vehicles cost more than repairs for non-hybrids

August 9, 2010 by Canadian Underwriter

Claims costs are higher for hybrid cars and SUVs than for non-hybrids, according to Mitchell International. In its Quarterly Feature of the Mitchell Industry Trends Report, Mitchell International says hybrids have higher collision claims frequencies and severity than non-hybrids.Overall, hybrids