Topic Technology
Intact’s assessment of insured damages from Fort McMurray wildfire estimated at $1 to $1.20 per share
May 9, 2016 by Canadian UnderwriterIntact 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…
In first-of-its kind collaboration, Google to integrate self-driving technology into 2017 Chrysler minivan
May 6, 2016 by Canadian UnderwriterFor 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…
Cyber criminals are even filtering out specific countries when designing cyberattacks; Canada has low threat exposure rate: Sophos research
May 5, 2016 by Canadian UnderwriterNetwork 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…
Insurance Institute of Canada issues “call to action” on driverless vehicles
May 5, 2016 by Canadian UnderwriterClear 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…
Global insurers can now register for “cyber-safe” .insurance domain name
May 5, 2016 by Canadian UnderwriterEarly 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…
Air bag inflator recall to grow by 35 million to 40 million
May 5, 2016 by Tom Krisher and Joan Lowy - THE ASSOCIATED PRESSWASHINGTON – 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…
Uber gets green light from city council to operate legally in Toronto
May 4, 2016 by The Canadian PressTORONTO – 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…
Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them
May 4, 2016 by Canadian UnderwriterAviva 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…
Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars
May 3, 2016 by Canadian UnderwriterThe 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…
U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study
May 3, 2016 by Canadian UnderwriterInsurers 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…
Move over drones, driverless cars, unmanned ship up next
May 3, 2016 by Julie Watson - THE ASSOCIATED PRESSSAN 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…
Business interruption insurance moving into IT realm: NetDiligence Cyber Risk Summit speaker
May 3, 2016 by Jason Contant, Online EditorMore and more, the conversation surrounding business interruption (BI) is moving from the physical aspect of BI to the information technology side of things, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Miki Ho, senior underwriter in the…