Tech

Commercial fleet managers should have ‘clear and straightforward guidelines’ on drivers’ use of electronic devices: Northbridge

It is not necessarily safe to use hands-free electronic devices while driving, especially when operating construction or contractor’s equipment, Northbridge Insurance suggested in a blog post Monday. Fleet managers should “include a policy on the use of wireless communication devices” in their organizations’ safety programs, Northbridge Insurance wrote in a post, titled Distracted Driving: Dealing […]

By Canadian Underwriter | June 19, 2017

3 min read

Tech

Gathering Intelligence

The rapid increase in computing power has allowed industry players in property and casualty insurance to begin using machine learning and artificial intelligence for a variety of applications. But industry watchers see those applications as just a start, reporting that more advanced uses of emerging information technologies are being explored and positing that these new applications could soon be on their way.

June 19, 2017

10 min read

Tech

The Bitfury Group and Risk Cooperative partner to pioneer blockchain applications in insurance intermediation market

Blockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in designing and implementing full scale blockchain applications across a wide range of sectors and Risk […]

By Canadian Underwriter | June 19, 2017

2 min read

IBAO & Intact partner to deliver information to customers electronically

The Insurance Brokers Association of Ontario (IBAO) and Intact Insurance Company announced on Friday that they have created a working group to explore ways for brokers to integrate Intact’s new online Client Centre with their existing systems. This newly-formed group between Intact and IBAO’s Technology Committee will examine ways brokers can integrate the Client Centre […]

By Canadian Underwriter | June 16, 2017

3 min read

Multiple access points for single customer to obtain electronic communications could be detrimental to Ontario consumer: IBAO

Creating multiple access points for a single consumer to obtain electronic communications, including e-documents, could be detrimental to the Ontario consumer, the Insurance Brokers Association of Ontario (IBAO) argued in a position paper released on Thursday. IBAO released the paper, titled Electronic Communication with the Ontario Consumer, in light of the recent 2017 budget from […]

2 min read

FIN10 intrusion operations predominately targeting Canadian organizations: FireEye

FireEye, Inc. has observed an actor carrying out financially motivated intrusion operations – targeting organizations in North America, but predominately in Canada – that may require a different type of response, the company suggests in a new report. Believed to be carried out by a previously unobserved actor or group FireEye calls FIN10, the intrusion […]

4 min read

ENCON Group announces standalone cyber policy for Canadian companies

Canadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks. Ottawa-based ENCON Group said in a press release that CyberPro is offered in association with Ascent Underwriting, a specialist MGA underwriting […]

2 min read

Insurance industry will be “profoundly disrupted” by technological change, global forum hears

The insurance industry will be profoundly disrupted by technological change, Vincent J. Dowling, Jr., managing partner of Dowling & Partners Securities LLC, told attendees at Marsh & McLennan Companies, Inc. (MMC)’s Young Professionals’ Global Forum 2017 in London, U.K. on Wednesday. “In your careers, personal and commercial auto (insurance) business will be gone,” as it’s […]

3 min read

AIG, IBM and Standard Chartered Bank pilot “first multinational insurance policy powered by blockchain”

American International Group Inc. (AIG), IBM and Standard Chartered Bank plc announced on Thursday that they have successfully piloted what they are calling the “first multinational ‘smart contract’ based insurance policy using blockchain.” Working together, AIG, IBM and international banking group Standard Chartered Bank converted a multinational, controlled master policy written in the United Kingdom […]

4 min read

Transport Canada issues final rule on electronic stability control for heavy trucks

The Canadian Trucking Alliance (CTA) is applauding Transport Canada’s amendments related to the introduction of electronic stability control (ESC) on commercial vehicles. The CTA said in a press release on Wednesday that the objective of the rule, published earlier this month in Canada Gazette, Part II, is to reduce the occurrence of rollover and loss-of-control […]

2 min read