Risk

Vehicle collisions on the rise in four provinces, Allstate Canada study finds

Vehicle collisions in Alberta, New Brunswick, Nova Scotia and Ontario are on the rise, with a 7.3% increase in frequency rate from last year, according to the seventh annual Allstate Insurance Company of Canada Safe Driving Study released on Thursday. The study – which uses Allstate data to track collision frequency among Allstate Canada consumers […]

By Canadian Underwriter | November 26, 2015

3 min read

Risk

XL Catlin launches online portal to help clients address data breaches

In light of the increasing magnitude and sophistication of cyber threats, XL Catlin’s Cyber & Technology insurance business announced Monday that it is offering an online resource giving clients access to support for cyber security readiness and incident response services. The online portal, CyberRiskIQ.com, seeks to help clients better understand their risks so they can […]

By Canadian Underwriter | November 24, 2015

2 min read

Risk

Ford stops using Takata air bag inflators in future vehicles due to shrapnel risk

Ford Motor Co. will not be using air bag inflators made by Takata Corp. in future vehicles, another blow to the troubled Japanese parts supplier as the auto industry continues to shun its product. Ford joins Honda, Toyota and Nissan is deciding against putting the inflators in cars, trucks and SUVs now under development. Takata […]

By Canadian Underwriter | November 23, 2015

2 min read

Risk

London insurance market underprepared for Talktalk-style cyberattack: Xchanging

A new digital survey from London, United Kingdom-based Xchanging plc, a business technology and services provider, has found that only one-third of insurers in the London market believe their firm could withstand a major cyberattack. The survey, conducted at the Xchanging London Market Conference earlier this month, gathered the views of 70 delegates on the […]

By Canadian Underwriter | November 23, 2015

2 min read

Fosun International completes acquisition of Ironshore interest

Fosun International Limited has completed its acquisition of the remaining 80% equity interest in Bermuda-based Ironshore Inc., which will become an indirect wholly owned subsidiary of the company. Approvals have been received from all relevant regulatory authorities in the United States, the United Kingdom and other jurisdictions for the acquisition of the remaining 80% ownership […]

3 min read

AP sources: Task force backs registration of drones weighing as little as some toy helicopters

WASHINGTON – An aviation industry task force is recommending that operators be required to register drones weighing as little as a half a pound, a threshold that could include some remote-controlled toys, industry officials said. Federal Aviation Administration officials who convened the 25-member task force on drone registration have said they want to avoid requiring […]

3 min read

Increasing demand prompting rapid growth of cyber insurance market: Moody’s

More than 50 insurers globally are now offering standalone cyber coverage, in addition to other carriers that provide cyber-related endorsements to commercial general liability or multi-peril policies, according to a report released on Thursday by Moody’s Investors Service, Inc. Along with these cyber policies, a number of insurers are offering valuable loss avoidance and risk […]

2 min read

New report gives Canada a 77% grade for cybersecurity readiness

Canada has received an overall ranking of 77% – “C+” – for its cybersecurity readiness, according to a new report from Tenable Network Security, a continuous network monitoring company based in Columbia, Md. For its 2016 Global Cybersecurity Assurance Report Card, released earlier this week, Tenable surveyed 504 global IT security professionals employed by organizations […]

3 min read

Toy drones significant threat to manned rotorcraft, new study finds

Toy drones pose a “significant threat” to manned rotorcraft in all phases of flight, according to a new study from Aero Kinetics, an aerospace and defence firm based in Fort Worth, Texas. Released on Thursday, the study, called The Real Consequences of Flying Toy Drones in the National Airspace System, concluded that toy drones pose […]

2 min read

Honda has the most models on government’s high risk list in Takata air bag inflator recall

DETROIT – Cars and trucks from the 2008 model year or older that were originally sold or registered in high humidity areas along the U.S. Gulf Coast are getting top priority for repairs as the government commences the massive Takata air bag inflator recall. Honda Motor Co. leads all automakers with nine models designated as […]

3 min read