Tech

First five months of 2016 dominated by malicious email campaigns of unprecedented volume, new ransomware variants

The first five months of 2016 were dominated by malicious email campaigns of unprecedented volume, with new ransomware variants emerging quickly and actors “repeatedly [shifting] tactics with new loaders, document attachment types and obfuscation techniques to evade detection,” according to cybersecurity company Proofpoint, Inc. The Proofpoint Quarterly Threat Summary, released on Tuesday, said that JavaScript […]

By Canadian Underwriter | July 26, 2016

3 min read

Tech

Insurers should offer lower premiums to motorists who don’t use mobile phones while driving, U.K. survey finds

Six in ten motor insurance policyholders in the United Kingdom say that avoiding any type of mobile phone use should be a top factor used by insurers in offering lower premiums, according to a new survey. The survey of 1,314 motor insurance policyholders over the age of 18 found that 60% think that avoiding any […]

By Canadian Underwriter | July 20, 2016

2 min read

Tech

Plans for self-driving cars have pitfall: the human brain

WASHINGTON – Experts say the development of self-driving cars over the coming decade depends on an unreliable assumption by many automakers: that the humans in them will be ready to step in and take control if the car’s systems fail. Instead, experience with automation in other modes of transportation like aviation and rail suggests that […]

By Jason Contant | July 19, 2016

4 min read

Tech

Most companies unprepared for emergence of autonomous vehicles: Munich Re survey

Most companies are unprepared for the emergence of autonomous vehicles (AVs), with 64% of polled risk managers saying that their companies have done nothing to prepare for the emergence of these vehicles in the auto market, according to a Munich Re survey. The in-person survey of more than 100 risk managers was conducted on site […]

By Canadian Underwriter | July 19, 2016

3 min read

Cyberattacks costing U.S. businesses US$3.5 million annually, 79% of businesses lack strategies to manage these risks: Ponemon Institute

External cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect. Despite acute awareness of the millions of dollars in annual costs, and the business risks posed by […]

2 min read

Posting vacation plans, pictures could put polled Quebecers’ home security at risk: Allstate Canada

Informing everyone via social media just how great a vacation is or is going to be could be putting Canadians’ largest investments – their homes – at risk of breaches in home security, notes a new survey issued Monday by Allstate Insurance Company of Canada. Almost a quarter of Quebecers, 23%, taking part in the […]

3 min read

Persisting low interest rates, regulatory cost concerns expected to result in lower returns: U.S. insurers

About three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions remaining and the slow-growth economy,” the rating company reports, citing findings included in A.M. Best […]

2 min read

Flight-following software ‘not used as intended’ as airplane hit by severe turbulence in thunderstorm: TSB

The Transportation Safety Board of Canada recently released an investigation report into a severe turbulence incident in southwestern Ontario, in which the crew of an American airline flew into a line of thunderstorms, temporarily lost control of their airplane and reacted “contrary to known aircraft upset recovery techniques.” On September, 5, 2014, a crew with […]

4 min read

U.S. telematics, UBI face market limits, value-added services may be key to growth: Novarica

A focus on services-based programs, and not discounts, will be a crucial differentiator for telematics and usage-based insurance (UBI) in the United States as insurers look to increase customer adoption and market growth, research and advisory firm Novarica said in a new executive brief released on Tuesday. Telematics has been growing steadily in the U.S. […]

2 min read

Vulnerability allows printer watering hole attacks to spread malware: Vectra Networks

Researchers at the Vectra Threat Labs have discovered a critical vulnerability in Microsoft Windows that enables attackers to gain system-level control over computers via infected or fake printer drivers to spread malware. “The vulnerability stems from a Windows process that allows users to quickly search for, add and use printers at home, in the office […]

2 min read