Insurance News - Monday, September 8, 2014

Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Monday, September 8, 2014:

• Japanese property and casualty insurance companies plan to let crime syndicate members buy auto insurance so that victims can be compensated in the event a gangster causes an accident.
• Usage-based insurance (UBI) policies are slowly gaining traction with Canadian drivers, but experts say uptake will remain slow until privacy concerns are allayed.
• However, a Towers Watson survey shows the number of consumers in the U.S. with a UBI policy has nearly doubled.
• According to a new research report, shipments of OEM embedded telematics systems worldwide are forecasted to grow from 8.4 million units in 2013 at a compound annual growth rate (CAGR) of 30.6 percent to reach 54.5 million units in 2020.
• Toyota is not planning on developing a driverless car but instead will focus on improved safety systems including monitoring for distracted driving.