Canadian Underwriter

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News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Allianz Risk Transfer, Nephila Capital successfully pilot blockchain for Cat swap

June 14, 2017 by Canadian Underwriter

Allianz Risk Transfer AG (ART) and Nephila Capital Limited report successfully piloting the use of blockchain smart contract technology for transacting a natural catastrophe swap, an approach they suggest offers benefits for this and other types of insurance transactions. The

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Toronto considering zoning, licensing and taxation rules for short-term rental platforms

June 13, 2017 by Canadian Underwriter

The City of Toronto will soon consider recommendations to adopt new rules for short-term rental platforms such as Airbnb – which are unregulated – to address concerns ranging from noise to safety and taxation, notes a municipal backgrounder. The Report

News InsuranceMergers and AqcuisitionsProductsTechnology

Price continues to be hurdles to adoption of smart home devices: survey

June 12, 2017 by Canadian Underwriter

Price is among the top barriers to more people adopting smart home technology to help ease home management pain points in the United States, notes a survey of 1,000-plus adults south of the border released by U.K. smart home brand

News ProductsTechnology

BlackBerry system geared at helping automakers ensure safe and secure autonomous vehicles

June 8, 2017 by Canadian Underwriter

“There is no safety without security,” John Wall, senior vice president and head of BlackBerry QNX, said this week as part of the launch of a new real-time, type 1 hypervisor that can be used in next-generation connected and autonomous

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Catlin extends global property insurance capacity

June 8, 2017 by Canadian Underwriter

Increasing property values and concern over natural catastrophe exposures in the United States and Canada were among the factors mentioned in XL Catlin’s announcement Wednesday it had extended global property insurance capacity by 25% to US$500 million. XL Catlin reports

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Use of captives for cyber liability programs increases 20% in 2016: Marsh report

June 7, 2017 by Canadian Underwriter

The number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review

News CatastrophesInsuranceTechnology

Lack of oversight regarding security of third-party IoT implementation: survey

May 31, 2017 by Canadian Underwriter

A gap in understanding how best to mitigate and communicate risks around the Internet of Things (IoT) persists despite organizations reporting high concern about related security, notes a new report from Ponemon Institute and Shared Assessments Program. Released Wednesday, The

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Technology advances to change insurance value chain, offers chance to reboot

May 19, 2017 by Angela Stelmakowich

Technology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new

News AssociationsInsuranceMarkets / CoveragesTechnology

Customer choice must be key consideration in next wave of insurTech: expert

May 18, 2017 by Angela Stelmakowich

An insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the

News AssociationsInsuranceTechnology

Clear, policy-driven Canadian fintech strategy needed: Toronto alliance

May 15, 2017 by Canadian Underwriter

Development of a consistently implemented, policy-driven Canadian fintech strategy focused on fostering innovation is essential and strengthening the fintech ecosystem in the Toronto area should be seen as an imperative for the country’s financial services sector and governments, contends the

News InsuranceMarkets / CoveragesProfessional Development

Workplaces should consider the value of staff reporting, observation in combating potential terrorism, violence

April 25, 2017 Angela Stelmakowich

PHILADELPHIA – The value of staff monitoring and reporting to identify behaviours that may seem linked to the risk of terrorism and workplace violence should not be underestimated, Harry Rhulen, chief executive officer of Firestorm, suggested Tuesday during an educational