An insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the Connected Insurance Observatory, suggested Wednesday during a media briefing. Giving customers the opportunity to choose […]
By Angela Stelmakowich | May 18, 2017
4 min read
The biggest risk with mass email theft is phishing and malware distribution, the vice president of business development with Vancouver-based NuData Security said in a statement on Wednesday, two days after Bell Canada confirmed an “illegal access” of customer information. Robert Capps said in the statement that 91% of cyberattacks start with a phishing email […]
By Canadian Underwriter | May 17, 2017
2 min read
The Transportation Safety Board of Canada reiterated Tuesday a warning that airplane passengers and crew are at risk of injury because not all Code 4 runways at Canadian airports have a 300-metre runway end safety area. TSB – a separate organization from Transport Canada that investigates incidents and accidents in marine, railway, pipelines and aviation […]
By Canadian Underwriter | May 17, 2017
4 min read
As institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how to deal with such an attack affecting them personally. The 2017 CIGI-Ipsos Global Study on […]
By Canadian Underwriter | May 17, 2017
3 min read
Just over half (53%) of Canadian small business owners (SBOs) and just under half (48%) of C-suite executives don’t feel confident about their current secure destruction systems for paper or electronic media, according to the seventh annual Shred-it Information Security Tracker Survey. The Shred-it survey, conducted by Ipsos, found that Canadian businesses might not be […]
By Canadian Underwriter | May 17, 2017
4 min read
The global WannaCry ransomware attack is “arguably the first ever cyber-catastrophe,” an expert in cyber risk management from RMS said on Tuesday. Tom Harvey said in a statement that the cyberattack “clearly demonstrates the systemic nature of the risk, with a single vulnerability resulting in hundreds of thousands of infected machines across over 150 countries.” […]
By Canadian Underwriter | May 16, 2017
3 min read
Personal lines carriers in the United States are using insurtech to focus on diverse research and development efforts, analytics, improved self-service capabilities (including mobile platforms) and core systems upgrades with an eye to the future, suggests a new report from Novarica. The report – Business and Technology Trends: Personal Lines – was released on Tuesday […]
By Canadian Underwriter | May 16, 2017
2 min read
Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats amid regular reports of data breaches and other information system intrusions will spur demand for […]
By Canadian Underwriter | May 16, 2017
3 min read
NEW YORK – Waymo, the self-driving car company owned by Google’s parent Alphabet Inc., and Lyft Inc. are teaming up to road test autonomous cars in a potential challenge to Uber Technologies Inc. In its statement, Lyft said Waymo holds “today’s best self-driving technology.” The two plan to work together to bring autonomous vehicles into […]
By Jason Contant | May 15, 2017
1 min read
TOKYO – The worldwide “ransomware” cyberattack spread to thousands of more computers on Monday as people logged in at work, disrupting business, schools, hospitals and daily life, though no new large-scale breakdowns were reported. In Britain, whose health service was among the first high-profile targets of the attack Friday, some hospitals and doctors’ offices were […]
By Jason Contant | May 15, 2017
5 min read