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About half of Canadian small business owners and C-suite execs not confident in secure destruction systems for paper or electronic media: survey

May 17, 2017 by Canadian Underwriter

Just over half (53%) of Canadian small business owners (SBOs) and just under half (48%) of C-suite executives don’t feel confident about their current secure destruction systems for paper or electronic media, according to the seventh annual Shred-it Information Security

News Earnings / RatingsInsurancePersonal LinesProductsTechnology

U.S. personal lines carriers investing in insurtech for early information on new ideas, competitive advantage: Novarica

May 16, 2017 by Canadian Underwriter

Personal lines carriers in the United States are using insurtech to focus on diverse research and development efforts, analytics, improved self-service capabilities (including mobile platforms) and core systems upgrades with an eye to the future, suggests a new report from

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Waymo, Lyft to team up on self-driving vehicles

May 15, 2017 The Associated Press

NEW YORK – Waymo, the self-driving car company owned by Google’s parent Alphabet Inc., and Lyft Inc. are teaming up to road test autonomous cars in a potential challenge to Uber Technologies Inc. In its statement, Lyft said Waymo holds

News Commercial LinesInsuranceMarkets / CoveragesMergers and AcquisitionsProducts

Northbridge Financial Corporation purchases surety underwriting business of Fenchurch General Insurance Company

May 10, 2017 by Canadian Underwriter

Toronto-based commercial P&C insurer Northbridge Financial Corporation announced on Tuesday that it will enter the surety market in Canada by purchasing the surety underwriting business of Fenchurch General Insurance Company. Starting June 1, businesses across Canada will have access to

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Documents show many cities are wary of mapping flood risks, making data public

May 9, 2017 Jordan Press - THE CANADIAN PRESS

OTTAWA – When municipal officials were told last year about new tools to help them map the risk of flooding in their communities, they immediately raised red flags, suggesting they wanted no part of it over concerns about legal liability

News CatastrophesClimate ChangeCommercial LinesInsuranceMarkets / CoveragesPersonal LinesProducts

Majority of polled Canadians unaware of flood risks and responsibilities, half would not consider purchasing overland flood coverage: survey

May 5, 2017 by Jason Contant

Homeowners in Canada lack awareness of flood risk and the protection options available to them to reduce that risk, suggests a new study from researchers at the Interdisciplinary Centre on Climate Change and Partners for Action research network at Ontario’s

News Commercial LinesInsuranceMarkets / CoveragesMergers and AcquisitionsProductsReinsurance

Intact to acquire U.S. specialty insurer OneBeacon Insurance Group for US$1.7 billion

May 3, 2017 by Canadian Underwriter

Intact Financial Corporation has announced that it intends to acquire OneBeacon Insurance Group, Ltd., a specialty insurer in the United States, for US$1.7 billion. Intact declared on Tuesday that it has entered into a definitive agreement and plan of merger

News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal LinesProductsTechnology

Aviva Canada and Hail Storm Products partner up for discount on auto hail protector system

May 2, 2017 by Canadian Underwriter

Aviva Canada and Hail Storm Products have teamed up, with the insurance company announcing on Tuesday that customers can now take advantage of an exclusive 20% discount on the Hail Protector Automobile Hail Protection System. “As the world’s only patented

News InsuranceMarkets / CoveragesProductsTechnology

Insurtech funding in Q1 2017 sees 64% drop from Q1 2016 to US$283 million: Willis Towers Watson Securities

May 2, 2017 by Canadian Underwriter

Insurtech funding in the first quarter of this year saw funding volume of US$283 million, a 64% drop from the first quarter of 2016’s total of US$783 million, likely the result of “start-ups moving from fundraising to product launch stage,”

Feature Commercial LinesPersonal LinesProductsTechnology

Turn Signal

May 1, 2017 Angela Stelmakowich, Editor

Technology is driving change in the vehicle manufacturing sector, prompting property and casualty insurers to consider how best to protect an already-pressured auto book. Will partnering with vehicle makers offer an opportunity to share the driver’s seat as highly automated and then autonomous vehicles take hold? Or will changing use patterns and battles over data relegate insurers to thumbing a ride?

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BlackBerry expanding channels of distribution via cyber security initiative with Allied World

April 21, 2017 by Canadian Underwriter

Ontario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an

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Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs

April 20, 2017 by Canadian Underwriter

Intact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated