Industry
Aviva Canada said Monday it is pleased with the recent passage of Bill 15 in Ontario, which takes measures to reduce auto insurance fraud in the province, and has an overall goal of reducing average rates. “We are pleased that the Ontario government passed Bill 15 without issue, it is a good first step,” Karin […]
By Canadian Underwriter | November 24, 2014
2 min read
LOS ANGELES – Against the team of hackers, the poor car stood no chance. Meticulously overwhelming its computer networks, the hackers showed that – given time – they would be able to pop the trunk and start the windshield wipers, cut the brakes or lock them up, and even kill the engine. Their motives were […]
3 min read
Firms are increasingly using transactional risk insurance in the global deal community to resolve risk issues that arise in their most complex transactions, while buyer-side purchases in the United States and Canada during the first half of 2014 were markedly higher than in the same period of 2013, notes a new report from Marsh. Figures […]
4 min read
Despite feeling they face information security threats, 42% of Canadian businesses have no plans to increase their IT security budgets next year, according to EY Canada. In EY’s Global Information Security survey, 92% of organizations said they are facing rising threats to the information security, but 42% said their budgets would either stay the same or […]
By Canadian Underwriter | November 21, 2014
There is an increase in the number of cars, industrial control systems and other non-computing devices that are connected to a global computer network, some of these devices are sold without “thorough security and functional testing” and are therefore “easier targets” for criminals than personal computers, yet most corporate information technology departments “are not responsible” […]
DETROIT – The Honda Odyssey was the only minivan to earn the highest safety rating in new crash tests by the insurance industry. The Insurance Institute for Highway Safety said Thursday that the Nissan Quest, Chrysler Town and Country, and Dodge Caravan all garnered the lowest rating on the small overlap front crash test, which […]
By Canadian Underwriter | November 20, 2014
Technology, particularly to enhance underwriting, was ranked as the highest priority for 2015 by nearly half of Canadian insurance industry respondents in a recent survey, and most said their IT spend would increase next year. In the survey of insurance industry professionals, conducted in October and November online by technology provider Xchanging plc, 49% of […]
Insurance buyers in small and mid-sized businesses are “comfortable” doing online research, but insurance carriers “rarely” offer online quoting for small businesses, Conning Inc. suggested in a report. In the report, titled The Small Business Sector for Property-Casualty Insurance: Market Shift Coming, Conning noted that some insurers and distributors are ‘observing profound changes’ in the […]
Loss cost containment and delivering superior customer service are the top goals for chief claims officers at property and casualty insurance companies in the United States, according to a new survey from Towers Watson. Loss cost containment was ranked by 89% of CCOs as either their primary or secondary claim operational goal, while 71% said […]
By Canadian Underwriter | November 19, 2014
The belief that all-season tires are “good enough” is likely behind only 51% of Canadian drivers using winter tires, outside of Quebec where they are mandated, according to a new survey from the Tire and Rubber Association of Canada (TRAC). The poll of about 1,000 Canadians asked whether drivers had used the specialized tires this […]
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