Topic Technology
GM to recall over 1 million pickups, most in U.S. and Canada, to fix seat belts
April 18, 2016 by The Associated PressDETROIT – General Motors is recalling more than a million Chevrolet Silverado and GMC Sierra pickup trucks worldwide because the seat belts may not hold the driver in a crash. Most of the trucks were sold in the U.S. and…
Customers ‘highly highly irritated’ if websites too slow: CSIO speaker
April 15, 2016 by Greg Meckbach, Associate EditorInsurance providers with a mobile web presence need to ensure their pages load quickly, a Google Inc. executive suggested Thursday to industry professionals in Toronto during the Centre for Study of Insurance Operations (CSIO) annual members’ meeting. “Google is optimizing…
North American workers exhibit risky cloud behavior, study finds
April 14, 2016 by Canadian UnderwriterEnterprise cloud adoption has matured in recent years, but employees using cloud apps continue to display “reckless technology habits” that put their employers at risk, according to a study released on Wednesday by a North American IT solutions and managed…
Air bag danger: US counts 85M unrecalled Takata inflators
April 14, 2016 by Tom Krisher - THE ASSOCIATED PRESSDETROIT – About 85 million Takata air bag inflators that haven’t been recalled are inside cars and trucks now being driven in the U.S. and would have to be replaced if the company can’t prove they are safe, the government…
Researchers: Newer type of ransomware is harbinger of danger
April 13, 2016 by Tami Abdollah - THE ASSOCIATED PRESSWASHINGTON – An unusual strain of virus-like hacker software that exploits computer server vulnerabilities – without requiring human interaction – is a leading example of a new generation of “ransomware,” according to a new report by Cisco Systems Inc. Hackers…
Cloud technology challenging the notion of what a corporate network is: RIMS speaker
April 13, 2016 by Angela Stelmakowich, EditorSAN DIEGO – Hacktivist-type attacks like those involving Sony Pictures Entertainment and Ashley Madison have gotten very personal and are coming at a time when cloud technology is transforming corporate networks, Brad Gow, senior vice president of Endurance Insurance, said…
Beazley, Munich Re cover cyber risk up to $100 million
April 12, 2016 by Canadian UnderwriterBeazley plc announced Monday it has partnered with Munich Re’s corporate insurance partner to offer tailored cyber insurance. The products will provide coverage of up to US$100 million or 100 million euros, stated Beazley, which manages six syndicates in the…
Significant UK cyberattack could cost billions of pounds in economic losses, study finds
April 12, 2016 by Canadian UnderwriterA significant cyberattack across the United Kingdom’s critical national infrastructure could have “far-reaching and significant economic impacts” for Britain, according to a study carried out by the Cambridge Centre for Risk Studies. The report, titled Integrated Infrastructure: Cyber Resiliency in…
Cyber incidents in mining a complex topic for risk managers, mining product development has not kept pace with needs: Munich Re
April 12, 2016 by Angela Stelmakowich, EditorSAN DIEGO – It is important for risk managers in the mining sector to understand the most critical scenarios for their companies and to analyze the true impacts of cyber incidents, suggests Günter Becker, head of mining for Munich Re.…
Risk professionals must look forward to what can be done with 3D printing to get fix on related risks, RIMS attendees hear
April 11, 2016 by Angela Stelmakowich, EditorSAN DIEGO – Those in insurance and risk management will need to readjust thinking from what has gone before to what could happen in future to get a firm grasp on the potential risk picture for 3D printing moving forward,…
First open source cyber scenario released by AIR Worldwide during RIMS 2016
April 11, 2016 by Angela Stelmakowich, EditorSAN DIEGO — Catastrophe modelling firm AIR Worldwide has launched what it calls the first open source deterministic cyber risk scenario, a move meant to help individual companies and the insurance industry as a whole better understand aggregated risk from…
Canadian p&c insurers should prepare for next wave of corporate M&A: Ernst & Young
April 11, 2016 by Canadian UnderwriterCanadian property and casualty insurers should “expand risk advisory capabilities” and prepare for the “next wave” of corporate mergers and acquisitions, Ernst & Young LLP suggested in a report released Monday. In its 2016 EY Canadian property and casualty insurance…