Industry

A cybercriminal hijacks an autonomous vehicle. Who’s responsible for a crash?

Vehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about that is: What if a car is attacked in a way that allows the criminal […]

By Adam Malik | May 13, 2021

3 min read

The catastrophe that would overwhelm Canada’s P&C industry

A major catastrophe event resulting in insurance claims exceeding $35 billion would likely overwhelm the capacity of Canada’s insurance industry, according to a recent report by the Property and Casualty Insurance Compensation Corporation (PACICC), How Big is Too Big? At that point, multiple insurers would be distressed and could fail, including both smaller regional insurers […]

By David Gambrill | May 13, 2021

4 min read

Flooding forces 700 people out of their homes in Fort Simpson, N.W.T.

FORT SIMPSON, N.W.T. – A mayor in the Northwest Territories was watching for movement in slabs of ice and snow sitting on top of one of two rivers threatening his community on Tuesday. About 700 of Fort Simpson’s 1,200 residents were forced from their homes after water levels rose dangerously on the weekend. “On Fort […]

By Jason Contant | May 12, 2021

3 min read

Gallagher to acquire certain Willis Towers Watson assets

Arthur J. Gallagher & Co. has announced an agreement to acquire certain Willis Towers Watson reinsurance, specialty and retail brokerage operations as part of a proposed “regulatory remedy” for the pending Aon and Willis Towers Watson deal. Under the agreement, Gallagher would acquire the combined operations for gross consideration of $3.57 billion, the brokerage announced […]

By Jason Contant | May 12, 2021

3 min read