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US$33 billion in 2016 global insurance M&A marks retreat from prior-year levels: Conning

May 15, 2017 by Canadian Underwriter

Global insurance mergers and acquisitions (M&A) activity slowed across all sectors in 2016, according to a new study from global investment management firm Conning. The Conning study, 2017: Global Insurer Mergers & Acquisitions in 2016 – Activity Slows, but Pressures

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Canadian auto insurance customer satisfaction climbs despite premium increases: J.D. Power study

May 15, 2017 by Canadian Underwriter

Customer satisfaction with auto insurance in Canada has increased for the second consecutive year despite nationwide premium increases, according to the newly released J.D. Power 2017 Canadian Auto Insurance Satisfaction Study. The study, released on Monday, found that across all

News InsuranceMarkets / CoveragesPersonal Lines

Aviva Canada partners with Tennis Canada for home and auto insurance program

May 15, 2017 by Canadian Underwriter

Aviva Canada Inc. announced on Monday that it launching a new “tennis-focused brand experience for home and auto insurance through an extended partnership” with Tennis Canada. The Tennis Canada Home and Auto insurance program for both fans and players alike

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Ram pickup air bags can fail in rollover; one death reported

May 12, 2017 The Associated Press

AUBURN HILLS, Mich. – Fiat Chrysler is recalling approximately 1 million Ram pickups in North America due to a software glitch that could prevent side air bags and seatbelts from deploying during a rollover. The company’s U.S. division said Friday

News CatastrophesInsurancePersonal Lines

Flooding expected to be ‘unlike anything ever seen,’ warns Kelowna mayor

May 12, 2017 The Canadian Press

VANCOUVER – British Columbia’s Okanagan region is bracing for a storm that Kelowna’s mayor worries could unleash the worst flooding the region has ever seen. Mayor Colin Basran posted a Facebook statement describing expected water levels as “unlike anything we

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal Lines

Allianz total revenues up 2.5% to 36.2 billion euros in Q1 2017

May 12, 2017 by Canadian Underwriter

Allianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release

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The toughest challenge for self-driving cars? Human drivers

May 11, 2017 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robotaxis. A self-driving car would be programmed to drive at the

News CatastrophesClimate ChangeConstructionInsuranceMarkets / CoveragesPersonal Lines

Rebuilding after disasters should stress safer, better, Goodale says

May 11, 2017 Jordan Press - THE CANADIAN PRESS

OTTAWA – As the devastating floodwaters recede in Ontario and Quebec, the key to preventing a similar disaster in future is to avoid making the mistakes that led to problems in the first place, says Public Safety Minister Ralph Goodale.

News CatastrophesInsuranceMarkets / CoveragesPersonal Lines

Too early to confirm costs from flooding in B.C., Ontario, Quebec and Maritimes: Aon

May 11, 2017 by Canadian Underwriter

Persistent recent heavy rainfall falling across several Canadian provinces has led to increasingly rising rivers, streams and lakes this week, as communities “raced to protect from water inundation,” Impact Forecasting said on Thursday in an Aon cat alert. Financial losses

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Non-approved Ontario auto forms do not always render insurance contracts void: Court of Appeal

May 10, 2017 by Canadian Underwriter

If an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On

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McFarlan Rowlands Insurance Brokers announces acquisition of Callister Musico Insurance Group

May 10, 2017 by Canadian Underwriter

London, Ont.-based McFarlan Rowlands Insurance Brokers announced on Wednesday that it will acquire Callister Musico Insurance Group of Sarnia, Ont. Located at 1315 Michigan Ave. in Sarnia, the Callister Musico office will become McFarlan Rowlands’ 15th branch in Ontario, allowing

News InsuranceMarkets / CoveragesPersonal Lines

Q1 claims and claims expense ratio improved 5.6 points for Allstate

May 10, 2017 by Canadian Underwriter

For the second year in a row, hail in Texas in March has cost The Allstate Corp. millions of dollars in claims and claims expenses. Northbrook, Ill.-based Allstate released May 2 its financial results for the first three months of