Tech

Sharing economy raises ‘broader question’ around usage-based insurance: Swiss Re

Although mobile apps make it easier to rent rooms, some insurers have probably not considered the risks arising from short-term accommodations, speakers said Tuesday at Swiss Re’s annual breakfast meeting in Toronto. At the same time, they added, it should be fairly easy to insure the risks arising from short-term accommodations. “Think about Airbnb,” Don […]

By Greg Meckbach | April 13, 2018

2 min read

Legal / Regulation

Mandatory breach requirements effective November 1. Here’s what to do.

With mandatory breach notification requirements coming into effect on November 1, Canadian businesses will need to focus on two factors to prepare: 1) a risk assessment, and 2) determining the decision makers in the company and a breach response plan. Chantal Bernier, who led the Office of the Privacy Commissioner of Canada for six years […]

By Jason Contant | April 12, 2018

2 min read

Tech

Cybercriminals are infiltrating software vendors, launching supply chain attacks

Cybercriminals are moving into the terrain of supply chain attacks, masquerading as signed apps, and using ransomware as a distraction to steal money from the network. Each of these are “interesting new areas” that cybercriminals may exploit in the future, according to Matt Hartley, vice president of global services and intelligent engineering with the cybersecurity […]

By Jason Contant | April 12, 2018

2 min read

Tech

Nova Scotia freedom of information website hacked

Halifax police have arrested a suspect after the Nova Scotia government’s freedom-of-information disclosure web portal was breached. The government said Wednesday about 7,000 documents were inappropriately accessed between March 3 and March 5. Its admission came nearly a week after the problem was first noticed and the portal was shut down on April 5. Jeff […]

By Jason Contant | April 11, 2018

2 min read

How blockchain will put pressure on broker commissions in 3-5 years

Blockchain is going to put pressure on broker commissions and fundamentally change the way the broker channel does business over the next three to five years, says a past Marsh Canada national executive and management committee member. Blockchain will reduce the amount of friction a broker faces during the process of matching capital with insurable […]

3 min read

MPI reveals estimated insurance costs of distracted drivers

The direct insurance costs associated with distracted driving in Manitoba are estimated to be at least $70 million per year, the province’s government auto insurer reported recently. Manitoba Public Insurance (MPI) spokesperson Brian Smiley told Canadian Underwriter that direct insurance costs include those related to bodily injury, physical damage of vehicles, and various other benefits that […]

By Jason Contant | April 10, 2018

2 min read

New data translator to put brokers on same level as directs

Applied Systems’ new “translation services” will provide broker data distribution as effectively as direct distribution and enable the broker channel to better compete, the software provider said Friday. Jeff Purdy, senior vice president of international operations with Applied, talked to Canadian Underwriter Friday about Applied’s new “translation services.” The software provides a way to move […]

2 min read

BMS integration key priority for Wawanesa’s new Canadian P&C president

Broker management system (BMS) integration with the back-end systems of Wawanesa Mutual Insurance Company is a top priority for the company’s new president of Canadian P&C operations. Carol Jardine told Canadian Underwriter that a lot of the groundwork has been laid over the past two years to create new technologies through the application of the […]

2 min read

Localized alerts for life-threatening emergencies now active on Canadians’ phones

Starting today, Canadians won’t have to be near a television or radio to receive emergency alerts. Life-threatening emergencies will now be broadcast on compatible mobile phones. As of today, the National Public Alerting System – commonly called Alert Ready – will include wireless networks, in addition to traditional broadcast channels. In the case of a […]

1 min read

How to render stolen online data useless to hackers

Passive or behavioural biometrics may be a way for your client or company to render useless the information lost in a data breach. This technology monitors the user’s inherent behaviour, “making it impossible for hackers to replicate or steal,” says Lisa Baergen, marketing director of NuData Security, a Mastercard Company based in Vancouver. Leveraging a […]

2 min read