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Location, Inc. launches predictive crime analytics for Canadian market

March 3, 2017 by Canadian Underwriter

A Worchester, Mass.-based location-based data provider has launched “the highest resolution crime analytics available in Canada,” providing exclusive United States-Canadian total, violent and property crime comparisons. Dr. Andrew Schiller, CEO and founder of Location, Inc. said in a press release

News Commercial LinesInsuranceMarkets / CoveragesPersonal LinesTechnology

Connected things to reach “tipping point very shortly,” Insurance-Canada Broker Forum speaker suggests

March 2, 2017 Jason Contant, Online Editor

There will be a “tipping point very shortly” involving connected things, a speaker suggested on Wednesday at the Insurance-Canada.ca Broker Forum. Ryan Spinner, head of innovation with Aviva Canada, was speaking during a panel discussion titled Distribution in the InsurTech

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Broker ‘still a valuable partnership’ for Economical Insurance despite Sonnet launch: CIO

March 2, 2017 by Canadian Underwriter

Economical Insurance’s recently-launched direct writer, Sonnet, is one example of “disruptive innovation” in the Canadian industry, a speaker told insurance professionals at a recent conference, though a senior executive of Economical suggested there is a “significant segment” of the market

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Canadian auto sales hit all time monthly high for February, led by Fiat Chrysler

March 2, 2017 The Canadian Press

RICHMOND HILL, Ont. – DesRosiers Automotive Consultants says Canadian auto sales hit a new monthly high for February. The consulting firm says sales of cars and light trucks totalled 123,032 last month, up 3.2 per cent from the same month

News Commercial LinesEarnings / RatingsLegalLegislation / RegulationPersonal Lines

Echelon Insurance receives regulatory okay for sale of European operations

March 1, 2017 by Angela Stelmakowich

Echelon Financial Holdings Inc. (EFH) has received regulatory approval from the Danish Financial Services Authority to sell its European operations, a move that will allow Echelon Insurance to roll out its strategy to focus on Canadian operations. EFH noted in

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Saskatchewan police targeting distracted drivers in March

February 28, 2017 by Canadian Underwriter

Saskatchewan Government Insurance (SGI) announced on Tuesday that distracted driving is returning as the traffic safety spotlight for the month of March. Police across the province will be watching for drivers using their cellphones while behind the wheel, including those

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Takata pleads guilty in air bag scandal, agrees to pay $1B

February 28, 2017 Tom Krisher and Ed White - THE ASSOCIATED PRESS

DETROIT – Japanese auto parts maker Takata Corp. pleaded guilty to fraud Monday and agreed to pay $1 billion in penalties for concealing an air bag defect blamed for at least 16 deaths, most of them in the U.S. The

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Desjardins General Insurance Group reports combined ratio of 62.1% for the fourth quarter of 2016, down 25.9 points from Q4 2015

February 28, 2017 by Canadian Underwriter

Desjardins General Insurance Group (DGIG), a Desjardins Group subsidiary specializing in property and casualty insurance, has announced a combined ratio excluding market yield adjustment (MYA) of 62.1% for the fourth quarter of 2016, down 25.9 percentage points from 88% in

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Manitoba Public Insurance announces higher third party auto liability coverage, up to $10 million

February 27, 2017 by Canadian Underwriter

Manitoba Crown Services Minister Ron Schuler and Manitoba Public Insurance (MPI) announced on Monday that customers in the province will soon be able to purchase higher levels of third party liability insurance coverage. Effective March 1, new $7 and $10

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Storm-lashed California roads, dams could cost US$1B to fix

February 27, 2017 Scott Smith - THE ASSOCIATED PRESS

FRESNO, Calif. – The bill to repair California’s crumbling roads, dams and other critical infrastructure hammered by an onslaught of storms this winter could top $1 billion, including nearly $600 million alone for damaged roadways that more than doubles what

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Berkshire Hathaway reports US$45.9 billion in insurance premiums earned for 2016, up more than US$4 billion from 2015

February 27, 2017 by Canadian Underwriter

Berkshire Hathaway Inc. has reported insurance premiums earned for 2016 of US$45.88 billion, up from US$41.29 billion in 2015. Omaha-Neb.-based Berkshire Hathaway has also reported Insurance-underwriting operating earnings of US$548 million for the fourth quarter of 2016 ending Dec. 31,

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California governor seeks flood control funds

February 24, 2017 The Associated Press

California Gov. Jerry Brown wants to spend $437 million on immediate flood control and emergency response actions in the storm-drenched state. Brown said Friday he would do that by redirecting $50 million from the state general fund and requesting a