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Sonnet ‘first step in a multi-step journey’: Economical’s SVP and chief marketing officer

April 10, 2017 by Canadian Underwriter

Fully online insurance company Sonnet is the “first step in a multi-step journey” and the learnings from that process will be applied back to other parts of Economical Insurance’s business, Economical senior vice president and chief marketing officer Michael Shostak

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Hyundai, Kia recall 1.4M vehicles; engines can fail

April 7, 2017 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – Hyundai and Kia are recalling 1.4 million cars and SUVs in the U.S., Canada and South Korea because the engines can fail and stall, increasing the risk of a crash. The recall covers some of the Korean automakers’

News CatastrophesInsurancePersonal LinesTechnology

ICLR to host webinar on lot-level approaches to control urban flood risk and mitigate basement flooding

April 7, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar in two weeks on lot-level approaches to control urban flood risk and mitigate basement flooding. The webinar on April 21 at 10 a.m. Eastern time is part of

News CatastrophesCommercial LinesInsurancePersonal LinesProfessional DevelopmentReinsurance

Intact reports Q1 cat losses of $88 million, aims to double direct-to-consumer business in ‘near term’

April 7, 2017 by Canadian Underwriter

Intact Financial Corp. recently reported its catastrophe losses, net of reinsurance, were $88 million for the first three months of 2017. Toronto-based Intact also says it wants to “double” its direct-to-consumer business in the “mid-term” and is nominating Sylvie Paquette,

News AssociationsCatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesCommercial LinesInsurancePersonal Lines

Southern U.S. crop losses from March storm could exceed $1 billion: Aon

April 7, 2017 by Canadian Underwriter

A weather system that brought sub-freezing temperatures to South Carolina and Georgia, as well as heavy rains in Peru were among the catastrophes with economic losses exceeding $1 billion in March, Aon plc’s Impact Forecasting unit reported Friday in its

News Commercial LinesInsuranceMarkets / CoveragesPersonal LinesTechnology

Satisfying unmet customer needs key to helping prevent disruption: CIP Symposium speaker

April 7, 2017 Jason Contant, Online Editor

If the insurance industry doesn’t start meeting unmet customer needs and responding to trends like the sharing economy, new entrants will likely continue to disrupt the industry, attendees to the CIP Society Symposium 2017 heard on Thursday. “The big risk

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MPs continue debate on opposition bill proposing five-year minimum sentence for impaired driving causing death

April 6, 2017 by Canadian Underwriter

Federal politicians debated Wednesday a bill proposing to change the Criminal Code of Canada to allow random alcohol screening of drivers and for consecutive five-year sentences for drivers convicted of impaired driving causing death. Bill C-226, the Impaired Driving Act,

News CatastrophesCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal LinesReinsurance

More action needed to better prepare for earthquake in Canada: Scotti

April 6, 2017 by Angela Stelmakowich

Canada would be well-advised to take a cue from other nations and do more to establish partnerships and requirements that better protect property owners in the event of an earthquake, says Veronica Scotti, president and CEO of Swiss Re Canada.

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ICBC examines anti-distracted driving technology

April 6, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) has posted a Request for Information (RFI) on BC Bid for market research and technology aimed at reducing distracted driving. The posting of the RFI, as part of ICBC and the government of

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesPersonal Lines

Climate adaptation investment has ‘long-lasting and substantial impact:’ Intact VP

April 5, 2017 Greg Meckbach, Associate Editor

Building infrastructure to reduce weather-related losses can benefit society for generations, but the problem of climate change is “so global and complex” that there will always be more work required, insurance company executives suggested Wednesday at a conference in Toronto.

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Aviva Canada invests $2.5 million in Canadian real estate marketplace & brokerage Casalova

April 5, 2017 by Canadian Underwriter

Aviva Canada has announced an equity partnership with real estate marketplace and brokerage Casalova. Aviva Canada announced the partnership in a press release on Wednesday, noting that the $2.5 million investment is being made by Aviva Ventures, Aviva plc’s venture