Canadian Underwriter

Topic Technology

News Mergers and AqcuisitionsTechnology

Ram pickup air bags can fail in rollover; one death reported

May 12, 2017 by The Associated Press

AUBURN HILLS, Mich. – Fiat Chrysler is recalling approximately 1 million Ram pickups in North America due to a software glitch that could prevent side air bags and seatbelts from deploying during a rollover. The company’s U.S. division said Friday

News Mergers and AqcuisitionsTechnology

Ransomware cyberattack cripples hospitals across the United Kingdom

May 12, 2017 by Canadian Underwriter

A large ransomware cyberattack has “crippled” computer systems at hospitals across the United Kingdom on Friday, with appointments cancelled, phone lines down and patients turned away, the Associated Press has reported. Britain’s National Health Service (NHS) said that a number

News Mergers and AqcuisitionsTechnology

The toughest challenge for self-driving cars? Human drivers

May 11, 2017 by Tom Krisher - THE ASSOCIATED PRESS

DETROIT – In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robotaxis. A self-driving car would be programmed to drive at the

News InsurersLegalTechnology

Cyber security a ‘key aspect’ of risk management for medical professional liability insurers: A.M. Best

May 11, 2017 by Canadian Underwriter

Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,

News Mergers and AqcuisitionsTechnology

Simultaneous cyberattacks on multiple companies likely in 2017, financial services industry key concern: AIG study

May 11, 2017 by Canadian Underwriter

Nine in 10 global cybersecurity and risk experts believe that cyber risk is systemic and that simultaneous attacks on multiple companies are likely in 2017, according to a study issued on Wednesday by global insurer American International Group, Inc (AIG).

News CatastrophesMergers and AqcuisitionsTechnology

Threats of cyberattacks, natural disasters and supply chain failure most pressing global business performance risks: FM Global

May 11, 2017 by Canadian Underwriter

Cyberattacks, natural disasters and supply chain failure are three of the most pressing risks to global business performance in the 21st century, according to the 2017 FM Global Resilience Index. The online, interactive annual index ranks 130 countries and territories

News CatastrophesTechnology

Documents show many cities are wary of mapping flood risks, making data public

May 9, 2017 by Jordan Press - THE CANADIAN PRESS

OTTAWA – When municipal officials were told last year about new tools to help them map the risk of flooding in their communities, they immediately raised red flags, suggesting they wanted no part of it over concerns about legal liability

News Mergers and AqcuisitionsTechnology

Drivers slower to respond to safety critical events in semi-automated cars, new study finds

May 8, 2017 by Canadian Underwriter

Drivers using automated driver support systems responded worse than those manually driving in terms of reaction time, lane departure duration and “maximum steering wheel angle to an induced lane departure event,” a new study has found. Published in the June

News Mergers and AqcuisitionsTechnology

Uber announces Toronto research hub for self-driving technology

May 8, 2017 by Canadian Underwriter

Uber has announced that Toronto will be the first international research hub of its Advanced Technologies Group. The technology company also welcomed Raquel Urtasun, an associate professor at the University of Toronto “and one of the world’s leading researchers in

News CatastrophesInsurersMergers and AqcuisitionsTechnology

Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter

May 8, 2017 by Canadian Underwriter

Auto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was

News LegalMergers and AqcuisitionsTechnology

Global demand for new vehicles to increase 1% to 2% in 2017: Fitch

May 4, 2017 by Canadian Underwriter

Global demand for new vehicles will increase 1% to 2% in 2017, according to Fitch Ratings’ latest U.S. Automotive Handbook, published on Wednesday. The handbook noted that growth in China, Europe and Brazil will more than offset demand declines in

News CatastrophesTechnology

Mobile earthquake simulator to visit Quebec in May and June

May 3, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is inviting Quebecers to experience the Quake Cottage, a mobile earthquake simulator, this month and next. As part of its earthquake preparedness campaign, IBC will be touring Quebec cities and shopping centres from La