Canadian Underwriter

Topic Technology

Hand holding a light bulb symbolizing digital innovation
News BrokersCommercialInsurersTechnology

Where digital transformation goes wrong for the P&C industry

July 7, 2022 by Jason Contant

Canada’s P&C insurance industry needs to get back to basics — unmet customer needs — when designing tech-enabled digital strategies and products, speakers said last week during an industry webinar. Too often, carriers or other industry stakeholders get involved in

Tesla autopilot
News ClaimsEmerging RisksLegalLiabilityPersonal AutoTechnology

U.S. regulator upgrades Tesla Autopilot crash analysis

June 30, 2022 by Philip Porado

A National Highway Traffic Safety Administration (NHTSA) preliminary analysis (PA) into Tesla’s Autopilot system was upgraded to an engineering analysis (EA) earlier this month. The EA will “extend the existing crash analysis, evaluate additional data sets [and] perform vehicle evaluations,”

Cropped shot of a young computer programmer looking through data
News CyberEmerging RisksInsurersOperationsRisk ManagersTechnology

What the regulator’s focus on digital risk means for you

June 27, 2022 by David Gambrill

Expect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the

Hacker attack and data breach
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Quebec court approves $200.9M settlement against Desjardins over data breach

June 20, 2022 by The Canadian Press

MONTREAL – The Superior Court of Quebec has approved a nearly $200.9-million settlement of a class-action lawsuit against Desjardins over a data breach – the largest to date in the Canadian financial services sector. Siskinds Desmeules and Kugler Kandestin say

News BrokersCommercialCyberMGAsTechnology

The future of cyber-security: MFA and beyond

June 17, 2022 by Jason Contant

Here’s some cyber security advice for your clients: time to install multi-factor authentication (MFA). In the future, that advice may morph to: Please send us a scan of all your tech vulnerabilities, so we can see what cybercriminals see. As

Robot holding a brain to represent artificial intelligence.
News ClaimsCommercialCyberEmerging RisksInsurersLiabilityLoss ControlLoss TrendsTechnology

How do you insure artificial intelligence?

June 15, 2022 by Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

Canadian flag beside the word 'military' on a keyboard
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Personal information about more than 100 military sex misconduct claimants leaked

June 15, 2022 by Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – The company overseeing the federal government’s $900-million settlement deal with military members who experienced sexual misconduct in uniform is admitting to more privacy breaches, despite repeated promises to have fixed the problem. Epiq Class Action Services Canada confirmed

Network and cybersecurity concept
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Key enterprises could face penalties under federal bill to bolster cybersecurity

June 14, 2022 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Key enterprises in the banking, telecommunications and transportation industries would be among those required to bolster cybersecurity and report digital attacks – or possibly face penalties – under a federal bill introduced Tuesday. The legislation is intended to

IT engineer working on protecting a network
News CommercialCyberManagementOperationsTechnology

A unified cybersecurity strategy is the key to protecting businesses

May 30, 2022 by The Canadian Press

By Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM) – THE CONVERSATION This article was originally published on The Conversation, an independent

Delta flooding after hurricane.
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How to speed up claims response for NatCats

May 25, 2022 by Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

Internet of Things concept
News ClaimsCyberEnvironmentalLiabilityMGAsTechnology

How modern tech companies are leaving old insurance policies in the dust

May 19, 2022 by Jason Contant

Modern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that

A woman ordering from a car-sharing platform on smartphone
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Turo ends dual listing prohibition following Competition Bureau investigation

May 19, 2022 by The Canadian Press

GATINEAU, Que. – The Competition Bureau says car-sharing service Turo Inc. has ended its policy in Canada that prevented someone from also listing the vehicle on other platforms, following an agency investigation. The Bureau says the change is good for