Tech
More than four in five Americans surveyed believe that owners of fully driverless vehicles should have auto insurance and more than a third believe that safety issues will delay or prevent their widespread availability, a survey released Tuesday by American International Group Inc. suggests. New York City-based AIG said its Autonomous Vehicle Insights study includes […]
By Canadian Underwriter | October 3, 2017
2 min read
Turo, which connects local car owners with travellers looking for adventure and in need of a vehicle, has expanded its car-sharing marketplace into British Columbia. To address provincial insurance regulations, the company has structured the expansion by partnering with local, independent car rental entrepreneurs that will make their fleets available to Turo members and will […]
3 min read
Legal / Regulation
Despite the constantly changing landscape, ever since insurance has been around, the industry has “accommodated or addressed” these emerging challenges, attendees to the National Insurance Conference of Canada (NICC) heard on Monday. Neville Henderson, assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), said that he’s seen […]
By Jason Contant | October 3, 2017
The average cost of cybercrime globally climbed to US$11.7 million per organization, a 23% increase from US$9.5 million reported in 2016, according to new research from Accenture and the Ponemon Institute. The year-over-year increase also represents a “staggering” 62% increase in the last five years, global professional services company Accenture said in a press release […]
By Canadian Underwriter | September 29, 2017
4 min read
Shifting liability and “the period of intersection” between conventional vehicles and fully autonomous vehicles (AVs) will be among the challenges facing risk managers in the future, attendees to the RIMS Canada Conference heard earlier this week. Consider “public road liability” related to infrastructure that is going to inevitably communicate with vehicles and vice versa and […]
By Jason Contant | September 29, 2017
Global cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found that cyber insurance has been a profitable business line for early market entrants and is […]
By Canadian Underwriter | September 28, 2017
Nearly one-half (46%) of Canadian small- and medium-sized businesses (SMBs) believe that their organization is at risk of experiencing a cyberattack, according to a new survey from Internet security company ESET Canada. The research, commissioned by ESET Canada and conducted by Ipsos, used a sample of 1,003 Canadian adults employed at small businesses (defined as […]
By Canadian Underwriter | September 27, 2017
The City of Toronto is taking an all-encompassing approach to automated vehicles by examining their potential impact on a variety of city departments, attendees to the RIMS Canada Conference heard on Monday. AVs could impact taxi regulations, employment, social services, city planning, emergency services and parking, to name a few – “really a wide array […]
By Jason Contant | September 27, 2017
belairdirect announced on Tuesday that it is launching a new app to help reward good drivers in Alberta and British Columbia. The automerit app assesses customers’ driving skills, helping them save on their insurance premiums through a discount, while providing valuable insight into their driving habits, belairdirect said in a press release on Tuesday. “belairdirect […]
Waterloo, Ont.-based Ignite Insurance and Ignite Holdings announced on Monday that aha insurance – the online auto and home insurance service – “is available today for the auto insurance market and, coming soon, the home insurance market in Ontario.” aha insurance provides a fully digital platform, enabling Ontarians seeking insurance the ability to get a […]
By Canadian Underwriter | September 26, 2017
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