Tech
TORONTO – The Bank of Canada’s senior deputy governor is calling for authorities to work toward a coherent set of globally aligned policies governing cryptocurrencies. Carolyn Wilkins told a University of Toronto conference on Thursday that such a strategy will need to cover risks in both cash and derivatives products, as well as the related […]
By Jason Contant | March 27, 2018
2 min read
Broker management system (BMS) provider Applied Systems announced Monday that it has expanded its partnership with the Centre for Study of Insurance Operations (CSIO) to integrate CSIO’s My Proof of Insurance eDelivery solution with Applied Epic and Applied TAM in future product solutions. Launched late last month, My Proof of Insurance enables CSIO members to […]
By Jason Contant | March 26, 2018
One-third of Canadian businesses have unwittingly leaked sensitive information to cybercriminals, highlighting the opportunity for education from the property and casualty (P&C) insurance community. According to the 2018 Canadian Internet Security Survey, released on March 22 by the Canadian Internet Registration Authority (CIRA), 32% of business respondents had “unwittingly divulged sensitive information due to phishing […]
Artificial intelligence can now surgically identify Canadian homes and businesses in an insurer’s book that are most in need of inspection, thereby eliminating unnecessary home inspection orders. “Sometimes the industry will pay to have an inspection done based on criteria and there’s nothing that we find wrong with the home, or anything that adds value […]
By David Gambrill | March 26, 2018
3 min read
HR
OTTAWA – A year into its effort to help equip youth for the rapidly evolving workforce, one of the country’s largest banks says enhancing young Canadians’ human skills will be critical in navigating the machine-led disruption that lies ahead. In a new study, the Royal Bank of Canada is calling for a national review of […]
4 min read
Insurers may recognize the importance of collecting and mining data, but a recent U.S. study shows few currently have an IoT strategy, are collecting IoT data, or have dedicated resources. LexisNexis Risk Solutions released a white paper Tuesday entitled, Are you prepared for the insurance data tsunami? Challenges and opportunities from the Internet of Things. […]
By Jason Contant | March 24, 2018
Your commercial client is looking to put together a best-in-class risk management plan for dealing with a cyber event. What’s the first thing they need to do? “An ideal plan starts with developing a team,” says Ruby Rai, manager of cyber and professional liability financial lines at AIG in Canada. “Not including all key stakeholders […]
By David Gambrill | March 24, 2018
Adam Hare, chief operating officer of the digital division of a family brokerage, never planned to make a career of insurance. Now he has a passion for making P&C insurance “sexy” for customers. It may seem counterintuitive, but despite having founded an organization that provides insurance quotes online, Adam Hare advises traditional brokers not to […]
March 23, 2018
Legal / Regulation
PHOENIX – Video of a fatal pedestrian crash involving a self-driving Uber vehicle that some experts say exposes flaws in autonomous vehicle technology is prompting calls to slow down testing on public roads and renewing concerns about regulatory readiness. The 22-second video shows a woman walking from a darkened area onto a street just before […]
By Jason Contant | March 23, 2018
Canada’s forthcoming implementation of mandatory data breach reporting may create an opportunity for the country’s commercial brokers to have conversations with their clients about cyber insurance risk based on concrete data instead of fear, a Marsh Canada broker says. Improved cyber risk data arising from breach reporting would give Canadian brokers “the ability to frame […]
By David Gambrill | March 22, 2018
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