Canadian Underwriter

Topic Technology

A zblockbuster in Australia with a red sign across the front door that says "closing down sale."
News BrokersEmerging RisksInsurersManagementTechnology

Why brokers won’t be the next Blockbuster

October 21, 2022 by Alyssa DiSabatino

Brokerages won’t suffer the same downfall as Blockbuster did over a decade ago, says one broker exec, because the broker channel has already begun addressing and responding to one industry blind spot — technology. That said, there are ways that

Electric vehicle in Canada
News Personal AutoTechnology

Are electric vehicles cheaper to insure?

October 18, 2022 by Jason Contant

Insuring an electric vehicle (EV) may be cheaper than a gasoline vehicle, but it depends on a multitude of factors that varies for each consumer and the vehicle they’re comparing, according to rate comparison site RatesDotCa. “Many EVs come with

Hand holding a light bulb symbolizing digital innovation
News BrokersInsurersTechnology

Why brokerages need to step up their digital insights

October 18, 2022 by Alyssa DiSabatino

Only 38% of insurance brokerages are using their management systems to produce data analytics solutions for their employees, clients and stakeholders, finds Applied System’s ‘Digital Agency Annual Report.’ That’s concerning, considering 99% of brokerages have a management system, which suggests

Shield icon representing cybersecurity
News ClaimsCyberLoss ControlManitobaTechnology

Manitoba not doing enough to protect information systems: auditor

October 14, 2022 by Steve Lambert - THE CANADIAN PRESS

WINNIPEG – The Manitoba government needs to better protect its information systems from internal misuse and outside attacks, the provincial auditor general said Thursday. Tyson Shtykalo’s 21-page report focused on system administrators and other people with deep access to systems

News ClaimsCyberInsurersTechnology

Is cyber insurance upticking across Canadian organizations?

October 11, 2022 by Alyssa DiSabatino

Seventy-four per cent of organizations across Canada have decided to invest in cyber insurance in 2022 compared to 59% in 2021 despite increasing costs and requirements, finds a survey from the Canadian Internet Registration Authority (CIRA).   However, most organizations

Hourglass on laptop computer
News BrokersClaimsLegalNova ScotiaTechnology

Brokerage’s 11-year lawsuit against tech vendor allowed to continue

October 7, 2022 by David Gambrill

Ballam Insurance Services, a Nova Scotia brokerage that sued its tech vendor 11 years ago over server issues, is allowed to proceed with its case despite examples of ‘inordinate’ and ‘inexcusable’ delays, the Supreme Court of Nova Scotia ruled Monday.

Insurance agent with a client to sign an insurance policy
News BrokersOntarioOperationsTechnologyTrusted Advisor

Do your clients really want digital delivery of insurance documents?

October 5, 2022 by Jason Contant

More than half of your clients want to receive their insurance documents in paper format, according to extrapolated results of Insurance Brokers Association of Ontario’s (IBAO) Going Paperless project. “It’s not a slam dunk – just because somebody wants to

A mouse cable forms the silhouette of a house
News BrokersClaimsCyberInsurersPersonal HomeTechnology

What cyber insurers can learn from property insurance policies

October 3, 2022 by Alyssa DiSabatino

An increase in frequency and severity of cyber insurance claims may be on the horizon, but insurers may be able to stick-handle this risk by taking inspiration from property insurance programs, said one cyber expert during a Canadian Underwriter webinar.

Magnifying glass over a key on a laptop keyboard which has a law scale symbol on it
News BrokersClaimsCyberInsurersTechnology

Will Canada’s cyber reporting be harmonized?

September 30, 2022 by Alyssa DiSabatino

The Insurance Bureau of Canada would like to see a harmonization in Canada on cyber reporting, says Celyeste Power, IBC’s executive vice president of strategic initiatives and advocacy during a Canadian Underwriter webinar. “A lot of regulators around the world

Illustration of a cyber criminal standing above a laptop. Fishing hooks with envelopes, credit cards and passwords are being reeled in above him
News BrokersClaimsCommercialEmerging RisksInsurersTechnology

Who is putting your client’s company at risk for a cyber scam?

September 22, 2022 by Alyssa DiSabatino

Two-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance

Keeping up with modern advancements in technology
News Claims TechnologyInsurersOperationsTechnology

Why your team needs to focus on software development

September 16, 2022 by Jason Contant

Organizations that achieve faster digital transformation end up becoming more innovative in the long-term, a speaker said Wednesday at the Future of Insurance Canada 2022 conference, hosted in-person in downtown Toronto by Reuters Events. Raj Utraja, vice president of technology

Street camera for digital surveillance
News CommercialCyberEmerging RisksTechnology

Dozens of cyberespionage operations perpetrated against Canada since 2010: study

September 16, 2022 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A new academic analysis has identified at least 75 foreign digital operations of a malicious political or industrial nature directed at Canada since 2010 – from attempts to steal COVID-19-related research to the targeting of Uyghur human rights