Legal / Regulation
Legislation under consideration by the House of Commons “would increase the flexibility” of federal law to address automated and connected technologies used in vehicles, a member of parliament suggested Wednesday. “Shifts in the global technology landscape are placing a growing reliance on vehicle safety innovation while transforming business practices and consumer demands,” said Brenda Shanahan, […]
By Canadian Underwriter | September 22, 2017
4 min read
Nearly four in five polled Canadians (78%) in Newfoundland and Labrador, Ontario and Alberta said they want to see a technology solution that would stop distracted driving by disabling texting and other functions while the driver is behind the wheel, a new opinion poll from Aviva Canada has found. Results of the online poll of […]
By Canadian Underwriter | September 21, 2017
3 min read
As insurance firms invest in more complex securities, they struggle to manage data and meet regulatory reporting requirements, a newly released study has found. Addressing local regulation and accounting standards is the leading operational challenge when it comes to firms’ expansion strategies, according to the survey, titled 2017 Insurance Asset Management Technology Outlook and released […]
By Canadian Underwriter | September 11, 2017
TORONTO – Credit monitoring company Equifax says that it will work with regulators in Canada and the United Kingdom to determine the appropriate steps following a lapse in cyber security that’s affecting about 143 million people in the United States. Equifax said it has identified unauthorized access to limited personal information for certain Canadian and […]
By Jason Contant | September 8, 2017
1 min read
WASHINGTON – The House voted Wednesday to speed the introduction of self-driving cars by giving the federal government authority to exempt automakers from safety standards not applicable to the technology, and to permit deployment of up to 100,000 of the vehicles annually over the next several years. The bill was passed by a voice vote. […]
By Jason Contant | September 7, 2017
Technological innovation is not among the goals of some government regulators overseeing insurance markets, but some can be persuaded to allow innovation if a determined insurance provider presents “a good case study,” speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We as insurers have hidden behind the regulators for a long time and have said, ‘Gosh, I would love to do that but I won’t be allowed to,” said David Crozier, president and chief executive officer of Everest Insurance Company of Canada. “We…
By Jason Contant | August 30, 2017
There is a “convergence” of attitudes towards technology across all age groups and insurance providers need to question their assumptions about buying habits of different demographic groups, speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We want to make sure we are checking our assumptions about demographics and that makes it particularly challenging with marketing,” […]
By Jason Contant | August 29, 2017
Worldwide spending on information technology security products and services will reach US$86.4 billion in 2017, an increase of 7% over 2016, according to the latest forecast from Gartner, Inc. Spending is expected to continue its growth to US$93 billion in 2018, the Stamford, Conn.-based research and advisory company said in a press release last week. Within the infrastructure protection segment, Gartner forecasts fast growth in the security testing market (albeit from a small base) due to continued data breaches and growing demands for application security testing as part of…
By Canadian Underwriter | August 22, 2017
The leader of the BC Green Party said on Monday that he will re-introduce legislation this fall to enable ridesharing in the province. Andrew Weaver said in a press release that he has twice introduced the Ridesharing Enabling Act, once in April 2016 and again in February 2017. “All parties want to see B.C. be a leader in the emerging economy,” Weaver said in the release. “To do so, government must take a proactive, responsive approach that considers the wide ranging impacts of technological innovation. Vancouver is the largest…
2 min read
Waterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of all sizes,” Fabian Richenberger, executive vice president of commercial insurance at Economical, said in a […]
By Canadian Underwriter | August 2, 2017
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