Canadian Underwriter

Keyword
Claims

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More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert

May 24, 2017 by Canadian Underwriter

The greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering

News CatastrophesClimate ChangeEarnings / RatingsInsuranceTechnology

Resource risk top concern for wind energy sector: GCube Underwriting

May 23, 2017 by Canadian Underwriter

Resource risk has surpassed mechanical and electrical breakdown to become the number one potential source of financial losses for onshore wind energy developers, owners and operators globally, suggests a new report from GCube Underwriting Ltd. Despite continued development and improvement

News Commercial LinesInsuranceMarkets / CoveragesPersonal LinesTechnology

Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings

May 16, 2017 by Canadian Underwriter

Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesTechnology

Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter

May 8, 2017 by Canadian Underwriter

Auto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was

News Commercial LinesInsuranceMarkets / CoveragesProfessional Development

Confusion, frustration common to BI claims can be lessened: RIMS survey

April 26, 2017 Angela Stelmakowich

PHILADELPHIA – Quantifying business interruption losses continues to be a big challenge, reported by almost six in 10 RIMS members taking part in a recent survey, but a well-conceived approach by risk managers can help to clear any hurdles. “By

News InsuranceLegal

Justices turn away GM appeal over ignition switches

April 24, 2017 The Associated Press

WASHINGTON – The Supreme Court on Monday turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims. The justices without

News Climate ChangeCommercial LinesInsurancePersonal LinesProductsTechnology

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

News AssociationsCommercial LinesInsurancePersonal LinesTechnology

Autonomous vehicles coming, but auto books will not disappear any time soon: CIAA event speaker

April 17, 2017 by Angela Stelmakowich

Autonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Analytics single greatest disruptor to Canadian insurance industry: survey

April 4, 2017 by Canadian Underwriter

Analytics is the single greatest disruptor to the Canadian insurance industry today, according to 65% of executives polled for a recent survey by Insurance Nexus, a division of FC Business Intelligence. Insurance Nexus reported on Tuesday that it recently surveyed

News Commercial LinesInsuranceMarkets / CoveragesPersonal Lines

Larger liability claims expected to become more expensive, complex: AGCS

March 30, 2017 by Canadian Underwriter

There is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsuranceTechnology

Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands

March 16, 2017 by Canadian Underwriter

Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in

News InsuranceTechnology

Older drivers like active safety features, resist autonomous vehicles: Munich Re survey

March 15, 2017 by Canadian Underwriter

A new survey out of the United States exploring the sentiments of older drivers 65 and over shows about half of the respondents would not be comfortable riding in an autonomous vehicle, but they see great value in active safety