Canadian Underwriter

Keyword
Data

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News InsuranceLegislation / Regulation

FSRA board director defends principles-based regulation

March 12, 2024 by David Gambrill

Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed

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News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

No evidence that RCMP data was extracted during recent cyberattack: commissioner

February 28, 2024 The Canadian Press

OTTAWA – The head of the RCMP said Tuesday there was no evidence to date that personal or operational information had been pilfered from the national police force’s systems during a recent cyberattack. “Based on information that we’ve gone through,

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Why most of your commercial clients are underinsured by at least 30%

December 12, 2023 by Jason Contant

Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence.  In this inflationary environment, keeping up with valuations and ensuring commercial property brokers

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News ClaimsClaims CanadaInsuranceMarkets / CoveragesProductsTechnology

Why you need to consider embedded insurance

November 23, 2023 by Jason Contant

Embedded insurance not only enhances the customer experience but also provides greater access to data for insurers, speakers said during KPMG’s recent 2023 Insurance Conference in Toronto.  “You unlock a lot of data that will change the way you do

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News BrokersInsuranceProfessional DevelopmentTechnology

Why you need to better understand data from your BMS

July 5, 2023 by Jason Contant

Brokers who can effectively capture data from their broker management systems (BMS) or other digital technology tools will be able to reap the benefits not only for their brokerages but for clients as well, panellists said during a Canadian Underwriter

News Insurance

Expert says N.L. cyberattack worst in Canadian history, deserves federal response

November 5, 2021 Sarah Smellie - THE CANADIAN PRESS

ST. JOHN’S, N.L. – The cyberattack that knocked down Newfoundland and Labrador’s health system data centres Saturday is a national security issue and should be treated as such by Ottawa, security experts say. David Shipley, chief executive officer of Beauceron

News Insurance

How insurers could centralize consumer data — and why they might not

May 5, 2021 by Greg Meckbach

The industry could potentially evolve towards an “open insurance strategy,” similar in concept to open banking, whereby consumers allow third parties access to their insurance data, an insurtech CEO suggests. In Europe, open banking gives consumers access to their banking

News Insurance

The limits of data collection: Making a case for pounding the pavement

April 20, 2021 by Jason Contant

To provide an excellent customer experience for your clients, data can only take you so far, the digital director of a brokerage said recently during the CIP Society Symposium’s virtual conference. Sometimes brokers simply have to hit the pavement to

News Insurance

Hackers don’t care about your client’s data. Here’s what they really care about…

March 8, 2021 by Jason Contant

Businesses falling victim to cyberattacks often don’t realize that the value of data they store is not what’s important to hackers, it’s the value of the data to the company, Crawford & Company (Canada) said in a recent whitepaper. “It

News Insurance

P&C industry needs better data about distracted driving

January 28, 2021 by Adam Malik

There’s a fairly significant gap between what government agencies have to say about distracted driving and what data companies are able to capture, and that is playing a role in the ineffective portrayal and messaging around the seriousness of people

News Insurance

Smartphones are problems, but here’s how they can help reduce driving risk

January 22, 2021 by Adam Malik

This could be the year telematics driving data actually provides meaningful information — and change — to insurers and drivers alike, allowing risk to be underwritten more accurately, experts predict. To pull that off, smartphones will be a critical tool

News Insurance

RCMP commits to changes in how it collects, uses information about protesters

December 18, 2020 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The RCMP has agreed to revamp its policies on the collection and use of information about protesters after a watchdog expressed fresh concerns, a notable shift from the police force’s position only months ago. RCMP Commissioner Brenda Lucki