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…
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…