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United States
Autonomous vehicles will add US$81 billion in new premiums for U.S. auto insurers by 2025: report
May 18, 2017 by Canadian UnderwriterInsurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the auto insurance industry in the United States over the next eight years, according to a new report from Accenture and Stevens Institute of Technology (SIT). The…
Storms pummel central U.S., as tornadoes kill at least two
May 17, 2017 The Associated Press (APR)ELK CITY, Okla. – Storms whipped through a wide swath of the central U.S., forming tornadoes that flattened a Wisconsin mobile home park and an Oklahoma subdivision and killing at least two people and injuring dozens of others. The storms…
Many global Internet users unprepared for dealing with ransomware attack, study finds
May 17, 2017 by Canadian UnderwriterAs institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how…
Global uptick in CEOs forced out of office for ethical lapses, Canada among lowest incidence of dismissals: Strategy&
May 17, 2017 by Canadian UnderwriterAn analysis of CEO successions at the world’s largest 2,500 public companies over the past 10 years shows a marked increase in forced turnovers for ethical lapses, although Canada is among the countries with the lowest incidence of such dismissals.…
Rogers Insurance Ltd. obtains minority shares purchase of Megson FitzPatrick Inc.
May 16, 2017 by Canadian UnderwriterRogers Insurance Ltd. announced on Tuesday that it will obtain a minority shares purchase of Megson FitzPatrick Inc. The partnership between Calgary-based Rogers Insurance and Victoria, B.C.-based Megson FitzPatrick became effective May 5, Rogers Insurance said in a press release…
U.S. personal lines carriers investing in insurtech for early information on new ideas, competitive advantage: Novarica
May 16, 2017 by Canadian UnderwriterPersonal lines carriers in the United States are using insurtech to focus on diverse research and development efforts, analytics, improved self-service capabilities (including mobile platforms) and core systems upgrades with an eye to the future, suggests a new report from…
Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings
May 16, 2017 by Canadian UnderwriterFitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats…
Waymo, Lyft to team up on self-driving vehicles
May 15, 2017 The Associated PressNEW YORK – Waymo, the self-driving car company owned by Google’s parent Alphabet Inc., and Lyft Inc. are teaming up to road test autonomous cars in a potential challenge to Uber Technologies Inc. In its statement, Lyft said Waymo holds…
US$33 billion in 2016 global insurance M&A marks retreat from prior-year levels: Conning
May 15, 2017 by Canadian UnderwriterGlobal insurance mergers and acquisitions (M&A) activity slowed across all sectors in 2016, according to a new study from global investment management firm Conning. The Conning study, 2017: Global Insurer Mergers & Acquisitions in 2016 – Activity Slows, but Pressures…
“Noticeable decline” in distributed denial of service attacks in Q1 2017: Kaspersky
May 15, 2017 by Canadian UnderwriterRussian cybersecurity company Kaspersky Lab has found a “noticeable decline” in the number of overall distributed denial of service (DDoS) attacks and a change to how they were dispersed by country. Kaspersky released late last week its Q1 2017 DDoS…
Federal government introduces proposed Oil Tanker Moratorium Act for ports or marine installations in northern B.C.
May 12, 2017 by Canadian UnderwriterThe federal government has introduced a bill that would prohibit oil tankers carrying more than 12,500 metric tonnes of crude oil or “persistent oils” from stopping, loading or unloading any of these oils at ports or marine installations in northern…
Allianz total revenues up 2.5% to 36.2 billion euros in Q1 2017
May 12, 2017 by Canadian UnderwriterAllianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release…