Canadian Underwriter

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Risk Management


News Legislation / Regulation

Truly driverless cars now allowed in California

October 31, 2018 Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO  – The robotic car company created by Google is poised to attempt a major technological leap in California, where its vehicles will hit the roads without a human on hand to take control in emergencies. The regulatory approval

News RiskTechnology

Think your password has been stolen? Think again.

October 30, 2018 by Jason Contant

Brokers would be well-advised to tell their clients to keep a cool head if they are contacted by email from someone claiming to have stolen their password. The latest online scam by cybercriminals uses stolen passwords from data breaches years

News RiskTechnology

Man sues Tesla over crash during autopilot mode

October 30, 2018 Mike Schneider - THE ASSOCIATED PRESS

ORLANDO, Fla. – A Florida man says the autopilot feature of his Tesla vehicle failed to detect a disabled car on a highway, leading to a collision that left him with permanent injuries, according to a negligence lawsuit filed Tuesday.

News InsuranceRisk

Study suggests bedrock stress a factor in fracking-caused earthquakes

October 29, 2018 Bob Weber - THE CANADIAN PRESS

New research is digging in to why fracking causes earthquakes in some areas but not in others. A paper published Monday in Geophysical Research Letters suggests the likelihood of an artificial earthquake is heavily influenced by how stable the ground

News InsuranceLegalMarkets / Coverages

Why this insurer is ‘shrinking’ its D&O liability business

October 26, 2018 by Greg Meckbach

Lawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said

News InsuranceTechnology

Why the industry needs to trust in AI algorithms

October 26, 2018 by Jason Contant

Managers, executives and boards in the insurance industry need to trust in artificial intelligence algorithms, even if they don’t look like traditional models, an Accenture executive told Canadian Underwriter Thursday. Machine learning models can better predict events with a greater

News InsuranceLegalRisk

Supreme Court limits when accused drunk drivers can get breathalyzer logs

October 26, 2018 Jordan Press - THE CANADIAN PRESS

OTTAWA – Canada’s top court has set new limits for defendants trying to beat a drunk-driving charge in a ruling that may have consequences for anyone accused of being high behind the wheel. What the Supreme Court of Canada laid

News ClaimsInsuranceRiskTechnology

4 ways AI can improve your performance

October 25, 2018 by Jason Contant

Artificial intelligence can be used to better predict weather risk in insurance, such as which customers’ properties may be more affected by severe weather, an Accenture executive said Thursday. One of the four major benefits of AI is enhanced judgement,

News InsuranceLegislation / Regulation

More interest from corporate clients in this specialty coverage

October 25, 2018 by Greg Meckbach

Large corporate clients often face unexpected tax bills in the millions – and companies are looking for insurers willing to share the risk. Aon Canada has meetings scheduled with several Canadian law firms to brief them on how tax insurance

News BrokersMergers and AqcuisitionsRisk

Why you might need an investment banker to help place commercial insurance

October 24, 2018 by Greg Meckbach

If your mid or large-sized commercial clients are involved in mergers and acquisitions, there are risks involved and insurance to address those risks, but it’s not like selling fire insurance. “It is not a simple case of saying, ‘Fill out

News Risk

Bank of Canada raises interest rate, signals future hikes

October 24, 2018 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada raised its trend-setting interest rate Wednesday and sent signals that future hikes could be upon Canadians sooner than previously expected. With a big source of trade uncertainty finally out of the way, the central

News InsuranceRisk

How rotating postal strikes are affecting these major insurers

October 23, 2018 by Jason Contant

After much hand-wringing about the impact of a postal strike on the insurance industry, rotating strikes by Canada Post workers have seemed to have had little impact on major insurers. Aviva Canada told Canadian Underwriter Tuesday the immediate impact of