IBC reminds students to “Leave the phone alone”

Insurance Bureau of Canada (IBC) is reminding students to “leave the phone alone” and help end distracted driving. This reminder comes as hundreds of students prepare to take their drivers’ tests and hit the roads for the first time.

Amanda Dean, Vice-President, Atlantic, IBC, will be joined by the Honourable Paula Biggar, PEI’s Minister of Transportation, Infrastructure, and Energy, and HOT 105.5. Participants will be on-site to speak with media following the event.

Date:                          

Thursday, September 22

Time:                         

11:30am ADT

Location:                 

Stonepark Intermediate School

50 Pope Avenue

Charlottetown, PEI

C1A 6R8

Participants:        

Amanda Dean, Vice-President, Atlantic, IBC

Hon. Paula Biggar, Minister of Transportation, Infrastructure and Energy, Government of Prince Edward Island

 

About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 120,000 Canadians, pays $8.2 billion in taxes and has a total premium base of $49 billion.

For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau and@IBC_Atlantic or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.

SOURCE Insurance Bureau of Canada

Sun Life Financial partners with Plug and Play Tech Centre – a first for CDN insurers

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TORONTO, July 27, 2016 /CNW/ – Sun Life Financial is making digital waves as the first Canadian insurance company to partner with Plug and Play Tech Center, a U.S.-based global technology accelerator that connects top start-ups from around the world to corporations and investors. This new arrangement will help position Sun Life Financial at the helm of insurance industry innovation and closely follows a partnership struck with MaRS Discovery District, one of North America’s largest urban innovation hubs.

“At Sun Life, we know there is so much more we can do for our Clients in a digitally-driven world,” said Dean Connor, President and Chief Executive Officer, Sun Life Financial. “Inserting ourselves into the stream with Plug and Play will help us experiment, and will speed up the delivery of cutting-edge solutions for Clients.”

Plug and Play runs 12 week industry-specific programs throughout the year and connects a select group of start-ups from around the world with its corporate partners. As part of the insurance vertical program, Sun Life Financial, along with other financial institutions, will work with start-ups by providing mentorship and business development support to help them develop a working prototype. At the end of the 12 week program, the start-ups pitch their ideas to investors and insurance executives at Plug and Play’s EXPO.

“This program is geared to help companies elevate the way they approach their business, creating opportunities that can define their sector,” said Saeed Amidi, Chief Executive Officer and Founder, Plug and Play. “We are thrilled to be working with Sun Life, a forward-thinking, innovation-focused organziation. We look forward to seeing the amazing outcomes from this 12 week program.”

Sun Life Financial will be focusing on the areas of Insurance, Health, IoT (Internet of Things), Media & Mobile and Fintech & Security, with leaders from different streams participating. The program is slated to begin at the end of August.

About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial has operations in a number of markets worldwide, includingCanada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia,Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2016, the Sun Life Financial group of companies had total assets under management of $861 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, the program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 start-ups and 300 corporate partners – it is the ultimate start-up ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley venture capitalists, and more than 365 networking events per year. Companies in the community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information visit www.plugandplaytechcenter.com

SOURCE Sun Life Financial Inc.

For further information:

Media Relations Contact:
Gannon Loftus
Manager, Media & PR
Corporate Communications
T. 416-979-6345
gannon.loftus@sunlife.com

Heartbleed CRA hacker heading to U.S. competition after judge lifts travel ban

LONDON, Ont. _ A judge has agreed to lift a travel ban imposed on a London, Ont., university student who pleaded guilty to mischief in connection to a major data breach at the Canada Revenue Agency in 2014.

The London Free Press reported Wednesday that Stephen Solis-Reyes, 21, who has been called the Heartbleed hacker, will be allowed to leave the country in September to compete in a computer programming competition in San Francisco.

The London judge told the computer whiz in court Wednesday the move is “exceedingly exceptional.”

“It means a lot, for sure,” Solis-Reyes told the newspaper outside the courthouse. “I think he is expecting big things from me. He’s expecting what I do in this competition is going to help society and help me in the future.”

The Western University student was invited to the competition in San Francisco after he was named as one of the 10 finalists in an international, IBM-sponsored computer programming competition, called Mastering the Mainframe, that drew 15,000 entries worldwide. If he finishes in the top two places in San Francisco, he will go to Las Vegas for two more days, the Free Press reported.

Solis-Reyes was convicted in May of four charges  two counts of mischief, unauthorized use of a computer and obstructing a police officer after he was able to steal 900 social insurance numbers from Canada Revenue Agency files. He said at the time he wanted to illustrate online vulnerability to the Heartbleed computer bug.

The agency’s website was shutdown for four days after the security breach and prompted the CRA to extend Canada’s tax-filing deadline.

canada-press

University of Calgary case highlights criminal demands for computer ‘ransom’

Ransomware attacks, such as one that recently saw the University of Calgary pay cyber criminals $20,000 to unlock its computer systems, are on the rise around the globe.

Government and industry experts say at small businesses, at hospitals and even at home, more people are suddenly finding their computer systems locked with screens displaying a demand for money to free them up.

Dutch Growers, a Saskatoon gardening centre, was hit in 2013. It’s not clear how its computer system was infected, but co-owner Rick Van Duyvendyk said the company was faced with a demand for $5,000.

cyber-crime“There was a thing that came up on our screen that said …. ‘we’ve shut you down’,” he recalled Wednesday, June 8, 2016.

The gardening centre brought in two information technology consultants to crack the lock, but they could not. Still, Van Duyvendyk refused to pay the ransom.

“I just figured that if I paid them, I’d probably never see them and probably still never get it fixed.”

University of Calgary vice-president Linda Dalgetty said this week that the school paid its $20,000 ransom demand because it wanted to ensure research and other important work was not wiped out.

Such a potential pay day, and the fact ransomware attacks are hard to trace, are behind the growing popularity of the crimes.

According to an Internet security report by Symantec in April, the number of ransomware attacks around the world increased by 35 per cent last year from 2014. The trend has spread to a variety of operating systems and mobile devices.

The attacks often stem from an infected email attachment or app that seizes control of a computer. Victims can face demands for hundreds or thousands of dollars to unlock their computers and retrieve documents, photos or other items.

The Canadian Anti-Fraud Centre, a joint project of police forces and the federal government, says the attacks originate across the globe and involve a wide variety of operations.

“It can be one, two or three (people) or they can have a bigger setup, which we call boiler rooms,” said RCMP Cpl. Josee Forest, manager of the organization’s call centre.

The centre advises victims not to pay ransoms. The money helps fund criminal operations, there is no guarantee the criminals will free up locked computers and there may be more demands for more.

Cyber-security experts and victims such as Van Duyvendyk say there are key preventative measures: keep security software updated and don’t open strange attachments and programs.

And backup computers regularly to a drive that is not kept plugged into the system, thereby protecting it from infection.

Van Duyvendyk said his system was partially backed-up and it still took him a long time to have everything restored.

“It probably took us about three months to get everything back to where it was.”

canada-press

Autonomous Vehicle Sales Set to Reach 21 Million Globally by 2035, IHS Says

Source: IHS News Release

The latest forecast from IHS Automotive calls for sales of nearly 21 million autonomous vehicles by 2035. This is a substantial increase from previous estimates, and is influenced by recent research and development by automotive OEMs, supplier and technology companies who are investing in this area. The new forecast is also based on a wave of recent developments and investments in this sector of the market, as well as activity within various regulatory environments.

The United States will lead the world in initial deployment and early adoption of autonomous vehicles, while Japan will simultaneously ramp up industry coordination and investment ahead of the Summer Olympics in Tokyo in 2020.

“Global sales of autonomous vehicles will reach nearly 600,000 units in 2025,” said Egil Juliussen, Ph.D. and director of research at IHS Automotive. “Our new forecast reflects a 43 percent compound annual growth rate between 2025 and 2035 – a decade of substantial growth, as driverless and self-driving cars alike are more widely adopted in all key global automotive markets,” he said.

The latest analysis from business information provider IHS Automotive, part of IHS Inc. (NYSE: IHS) takes into account key factors influencing this growth. New mobility solutions such as ride sharing and car sharing programs, increasing investment in autonomy by OEMs, suppliers and technology companies alike, research and development centers underway and improved efficiencies are expected to impact the further proliferation of automotive technologies. The IHS analysis also considers unique insight into various mobility trends forming around the world.

IHS forecasts incorporate a multitude of factors, including current market development of foundational technologies and considerable R&D announcements and collaboration projects under way. These include discussions and initiatives among OEMs and their suppliers, between OEMs and ridesharing companies, technology company initiatives and increased investment in autonomy and mobility by other entities as well.

”Future mobility will connect and combine many different modes and technologies, and autonomous vehicles will play a central role,” said Jeremy Carlson, principal analyst at IHS Automotive. “IHS expects entirely new vehicle segments to be created, in addition to traditional vehicles adding autonomous capabilities. Consumers gain new choices in personal mobility to complement mass transit, and these new choices will increasingly use battery electric and other efficient means of propulsion.”

United States first to deploy autonomy

The U.S. market is expected to see the earliest deployment of autonomous vehicles as it works through challenges posed by regulation, liability and consumer acceptance. Deployment in the U.S. will begin with several thousand autonomous vehicles in 2020, which will grow to nearly 4.5 million vehicles by 2035, according to IHS Automotive forecasts. As in many other markets, a variety of use cases and business models are expected to develop around consumer demand for personal mobility.

The Co-operators wins Canadian Analytics Carrier of the Year

Cooperators-logo-blue-2X

The Co-operators has been named the Canadian Analytics Carrier of the Year by Nexus Insurance at the Insurance Analytics Canada Awards. The award, which was presented as part of the Insurance Analytics Canada Summit in Toronto, acknowledges the insurance company that has made the biggest advances in implementing analytics in its business.

The business intelligence team at The Co-operators was created in 2011 with just two employees. Given its success in helping the insurer work smarter, the organization continued to invest in this area and the team grew to its current size of 70 business intelligence professionals. Its work was instrumental as The Co-operators became the first insurance company in Canada to offer homeowners comprehensive flood insurance coverage in 2015. Other areas of focus include the development of self-service analytics, usage-based insurance, the internet of things and price optimization, among other things.

“New technologies and the availability of data are changing insurance in a fundamental way, and this award recognizes our achievements in creating a data-driven organization,” said Carl Lambert, vice-president, national P&C business intelligence at The Co-operators. “Our accomplishments to date have been made possible by a team of incredibly talented business intelligence professionals and a leadership group with the foresight to make wise investments in this aspect of the business.”

The award ceremony brought together more than 200 people from leading insurers and service providers to recognize ground-breaking achievements in data and analytics. Expert judges evaluated entries based on how the companies have challenged the norms of the industry and pushed conventional boundaries.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers inCanada by Aon; Corporate Knights’ Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine. For more information visit www.cooperators.ca.

SOURCE The Co-operators

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