Topic Technology
Total spending on IT infrastructure products for cloud deployment to increase 18.9% in 2016: International Data Corporation
April 11, 2016 by Canadian UnderwriterTotal spending on IT infrastructure products for deployment in cloud environments will increased by 18.9% in 2016, according International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology…
Experts caution self-driving cars aren’t ready for roads
April 11, 2016 by Joan Lowy - THE ASSOCIATED PRESSWASHINGTON – Self-driving cars are more likely to hurt than help public safety because of unsolved technical issues, engineers and safety advocates told the government Friday, countering a push by innovators to speed government approval. Even a trade association for…
Forecasting emerging risks expected to get tougher: Marsh/RIMS report
April 11, 2016 by Angela Stelmakowich, EditorSAN DIEGO – Cyber attacks – once again identified as a top critical business risk – are expected to be a source of emerging risks, but forecasting for all emerging risks could prove more challenging over the next three years,…
New mobile app from Zurich released at 2016 RIMS to help companies assess, manage risk
April 11, 2016 by Angela Stelmakowich, EditorSAN DIEGO – Zurich Insurance Group is unveiling a new mobile app this week at the 2016 RIMS Conference and Exhibition which the company reports will enable customers to perform their own on-site risk assessments and use those results to…
FBI warns of dramatic increase in business email compromise scams, says US$2.3 billion lost over two-year period
April 8, 2016 by Canadian UnderwriterThe Federal Bureau of Investigation (FBI) in the United States has issued a warning of a “dramatic” rise in “business email compromise” scams (BEC) that has resulted in massive financial losses in U.S. cities. From October 2013 until February 2016,…
Worldwide IT spending forecast to decline 0.5% in 2016: Gartner
April 8, 2016 by Canadian UnderwriterWorldwide IT spending is forecast to total US$3.49 trillion in 2016, a decline of just 0.5% over 2015 spending of US$3.5 trillion, according to information technology research and advisory firm Gartner, Inc. The prediction is down from last quarter’s forecast…
U.S. energy sector sees dramatic rise in successful cyberattacks: study
April 7, 2016 by Canadian UnderwriterTripwire, Inc., a Portland, Oregon-based provider of endpoint detection and response, security, compliance and IT operations solutions for enterprises, service providers and government agencies, has found that more than three-quarters of survey respondents in the energy sector in the United…
RMS launches app to model ‘cat-in-a-box’ deals
April 7, 2016 by Canadian UnderwriterRisk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers…
Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC
April 6, 2016 by Angela StelmakowichDespite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for…
Allstate rolls out telematics auto insurance in Alberta
April 5, 2016 by Canadian UnderwriterAllstate Insurance Company of Canada announced Tuesday it is using telematics to provide usage-based insurance to personal lines customers in Alberta. Allstate went live April 1 with Drivewise, using technology from Huntington Beach, Calif.-based Modus Group LLC. “In Ontario, (Drivewise)…
Global insurance telematics market expected to grow to US$2.21 billion in 2020 from US$857.2 million in 2015
April 5, 2016 by Canadian UnderwriterThe global insurance telematics market size is expected to grow from US$857.2 million in 2015 to US$2.21 billion in 2020, at a compound annual growth rate (CAGR) of 20.9%, according to a report by ReportLinker, a market research technology company…
Aon to launch new global reinsurer trading platform
April 5, 2016 by Canadian UnderwriterAon Benfield will launch its new global reinsurer trading platform Apr. 11, a move meant to enhance placements with real-time data when ABConnect Placements goes live for July 1 treaty placements, the global reinsurance intermediary and capital advisor of Aon…