Tech
Almost all polled large employers in the United States have a cybersecurity policy in place, with required security software and how to back up data being the most important elements of the policy, a recent study from research company Clutch has found. Released last week, the survey examined the state of cybersecurity among large U.S. […]
By Canadian Underwriter | September 7, 2017
2 min read
Advent Claims will provide its claims management system to Lloyd’s broker, Endeavour Insurance Services, as part of a new partnership arrangement meant to support London market coverholders operating in Canada. Advent Claims is a technology-led claims third-party administrator; Endeavour Insurance is the specialist binding authority broker placing contracts on behalf of international coverholders and managing […]
The Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar on inflow and infiltration (I/I) on Sept. 15. The webinar, to be held from 10 a.m. to 11:30 a.m. EST, will feature Barbara Robinson from Norton Engineering, who will discuss an ongoing project supported by ICLR to examine “unacceptable levels” of I/I entering […]
By Canadian Underwriter | September 6, 2017
Property Claim Services (PCS) announced that it has launched PCS Global Cyber, a new loss aggregation service that provides “industry loss estimates for individual affirmative worldwide cyber events with insured losses of at least $20 million industrywide.” Developed in collaboration with Capsicum Re, PCS Global Cyber reflects significant insurance and reinsurance market demand for an […]
By Canadian Underwriter | September 5, 2017
4 min read
A firm once described by its co-founder as being “on the lunatic fringe” of the insurtech market plans to provide, in Canada, insurance covering consumer items for accidental damage, loss and theft starting next year. Trov Inc., which is currently an authorized representative of AXA in Britain, says it lets customers “instantly turn insurance on […]
By Jason Contant | August 31, 2017
Magna International Inc. unveiled on Wednesday an autonomous vehicle platform it says “can be integrated into any vehicle without compromise to vehicle design and styling.” MAX4 is a fully integrated, customizable and scalable autonomous driving sensing and compute platform that can enable up to Level 4 autonomous driving capabilities in both urban and highway environments, Magna said in a press release on Wednesday. The SAE (Society of Automotive Engineers) International defines Level 4 as “high automation,” where the automated driving system performs all…
By Canadian Underwriter | August 31, 2017
3 min read
Legal / Regulation
Technological innovation is not among the goals of some government regulators overseeing insurance markets, but some can be persuaded to allow innovation if a determined insurance provider presents “a good case study,” speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We as insurers have hidden behind the regulators for a long time and have said, ‘Gosh, I would love to do that but I won’t be allowed to,” said David Crozier, president and chief executive officer of Everest Insurance Company of Canada. “We…
By Jason Contant | August 30, 2017
Organizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual Insurance-Canada.ca Executive Forum in downtown Toronto. “You don’t have to abdicate your responsibilities to the […]
By Angela Stelmakowich | August 30, 2017
Chubb announced on Wednesday that it has broadened its enterprise risk management solutions for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management and DigiTech Enterprise Risk Management, combine cyber insurance with extensive loss mitigation and incident response services, gives organizations across all industries and sizes […]
By Canadian Underwriter | August 30, 2017
There is a “convergence” of attitudes towards technology across all age groups and insurance providers need to question their assumptions about buying habits of different demographic groups, speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We want to make sure we are checking our assumptions about demographics and that makes it particularly challenging with marketing,” […]
By Jason Contant | August 29, 2017
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