Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars
May 3, 2016 by Canadian UnderwriterThe multi-billion pound motor insurance industry in the United Kingdom faces a period of radical restructuring as a result of the advent of autonomously driving (AD) cars, with the number of crashes set to dramatically drop and insurance premiums set…
Services related to telematics, not commercial vehicle itself, becoming more of a focal point
May 2, 2016 by Angela StelmakowichA transition is occurring in which the focus is not so much on commercial vehicles as on services, including those related to telematics, that are increasingly becoming available, Sandeep Kar, global automotive practice leader for Frost & Sullivan, suggested Friday…
Two-thirds of polled Canadians do not trust self-driving vehicles, but think there are benefits in the future: CAA
April 18, 2016 by Canadian UnderwriterCanadians are wary of driverless cars, with nearly two-thirds saying they would not trust a vehicle to drive itself while they are in it, according to new research released on Monday by the Canadian Automobile Association (CAA). CAA said that…
Air bag danger: US counts 85M unrecalled Takata inflators
April 14, 2016 Tom Krisher - THE ASSOCIATED PRESSDETROIT – About 85 million Takata air bag inflators that haven’t been recalled are inside cars and trucks now being driven in the U.S. and would have to be replaced if the company can’t prove they are safe, the government…
Two Alberta men charged in connection with arson of their own business
April 13, 2016 by Canadian UnderwriterThe Calgary Police Service (CPS) Arson Unit announced on Tuesday that a father and son have been charged in connection with the arson of their own business. At approximately 2:25 a.m., on Thursday, Sept. 6, 2015, an alarm was triggered…
Vaughan, Ontario man charged following $63,000 insurance fraud investigation
April 12, 2016 by Canadian UnderwriterJust days after the York Regional Police (YRP) announced that they have laid charges in connection with an alleged staged collision in the Township of King, Ont., police said on Monday that they have charged a 36-year-old Vaughan man in…
Global insurance telematics market expected to grow to US$2.21 billion in 2020 from US$857.2 million in 2015
April 5, 2016 by Canadian UnderwriterThe global insurance telematics market size is expected to grow from US$857.2 million in 2015 to US$2.21 billion in 2020, at a compound annual growth rate (CAGR) of 20.9%, according to a report by ReportLinker, a market research technology company…
Over-regulation of “driverless” vehicles could stifle industry, say advocates
March 30, 2016 Terry Pedwell - THE CANADIAN PRESSKANATA, Ont. – Driverless cars, trucks and buses are going to cause a major economic headache, and the federal government needs to be ready, say advocates for the country’s high tech and automotive sectors. But Ottawa also needs to tread…
CFC launches new insurance suite for product recall market
March 14, 2016 by Canadian UnderwriterSpecialist lines underwriting agency CFC Underwriting has launched a new suite of product recall products, available globally, to help enhance insureds’ protection, including from events related to hacking and electronic attack. The suite is aimed at industries ranging from food…
Toyota adds 331,000 cars to Takata air bag recalls
March 2, 2016 The Associated PressDETROIT – Toyota is adding 331,000 cars worldwide to an existing recall of passenger air bags made by Japanese supplier Takata Corp. The new recall includes the 2008 Corolla and Corolla Matrix sedans and the 2008-2010 Lexus SC430 convertible. Almost…
Garneau seeks Senate advice on rules, regs for future of driverless cars
February 18, 2016 Joan Bryden - THE CANADIAN PRESSOTTAWA – Canada’s Senate, often accused of being an anachronism, is being asked to wrestle with the futuristic dream of driverless cars. Transport Minister Marc Garneau wants the Senate’s transportation and communications committee to launch a study of the regulatory,…
GM recalls 200,000 cars for Takata air bag trouble
February 16, 2016 The Associated PressDETROIT – General Motors is recalling about 200,000 Saab and Saturn cars in the U.S. and Canada to replace the Takata driver’s air bag inflators. The move is part of a broader recall of about 5.4 million vehicles announced last…