Ford Motor Company has announced it is investing US$1 billion during the next five years in Argo AI, an artificial intelligence company, to develop a virtual driver system for the automaker’s autonomous vehicle coming in 2021 – and for potential license to other companies. Founded by former Google and Uber leaders, Argo AI is bringing […]
By Canadian Underwriter | February 13, 2017
4 min read
IT decision makers and C-suite executives each believe the other is responsible in the event of a cyber breach, according to new research from BAE Systems, a provider of technology defence, aerospace and security solutions. According to BAE Systems’ 2017 Cyber Defence Monitor Research, C-level executives also predict the cost of cyberattacks to their businesses […]
By Canadian Underwriter | February 10, 2017
2 min read
The number, sophistication and severity of cyberattacks on companies in Canada are each on the rise, with the average number of reported cyberattacks rising to 44 attacks per year, according to the findings of a new study. Scalar Decisions Inc. released the 2017 Scalar Security Study, commissioned by Scalar and independently by Ponemon Institute, on […]
By Canadian Underwriter | February 9, 2017
3 min read
The Insurance Brokers Association of Ontario (IBAO) and the Insurance Institute of Ontario announced on Tuesday that they will be hosting a live webcast on the insurance implications of automated vehicles on Feb. 16. The webcast, which will run from 9:30 a.m. to 11:30 a.m. EST, will feature four panellists’ perspectives on the changing landscape […]
By Canadian Underwriter | February 7, 2017
2 min read
Chubb announced on Tuesday that is has enhanced its Masterpiece Equipment Breakdown insurance policy to “better protect customers against problems associated with the sudden or accidental breakdown of residential equipment.” Available to customers with an existing Canadian Masterpiece Homeowners, Condominium or Co-operative policy, the Equipment Breakdown policy covers all residential equipment that is permanently installed […]
By Canadian Underwriter | February 7, 2017
2 min read
Hannover Re, Generali Group and SCOR announced on Monday that they have joined the blockchain insurance industry initiative B3i, bringing the total number of insurers and reinsurers in the initiative to 15. Members of the B3i initiative will explore the potential of distributed ledger technologies to better serve clients through faster, more convenient and secure […]
By Canadian Underwriter | February 6, 2017
3 min read
London-based Beazley announced Monday it is expanding its presence in Canada with the acquisition of specialist managing general agent (MGA) Creechurch Underwriters, and has plans to enhance existing covers and launch new products. Creechurch Underwriter’s current team, led by its president Phil Baker, will remain based in the existing offices located in Toronto, Montreal and […]
By Canadian Underwriter | February 6, 2017
2 min read
Cybersecurity and privacy issues, along with infrastructure management and emerging technologies, rank as the top technology challenges organizations face today, according to a survey report from global consulting firm Protiviti and ISACA, a global business technology professional association for IT audit/assurance, governance, risk and information security professionals. Released on Thursday, the 6th annual IT audit […]
By Canadian Underwriter | February 4, 2017
3 min read
LOS ANGELES – Self-driving car prototypes appear to be getting better at negotiating California streets and highways without a human backup driver intervening, according to data made public Wednesday by California transportation regulators. The data reflect safety-related incidents reported by 11 companies that have been testing more than 100 vehicles on public roads, primarily in […]
By Jason Contant | February 2, 2017
3 min read
The global insurance services market is expected to grow at a compound annual growth rate (CAGR) of 4.9% over the next five years due to the increase in the use of the Internet of Things (IoT) and changes in operating models adopted such as the emergence of peer-to-peer and on-demand insurance models, according to a […]
By Canadian Underwriter | February 2, 2017
2 min read