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Landmark federal investments for disaster-proofing communities, enhancing resilience: IBC

March 23, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s strong support for the federal government’s move to beef up investments aimed at enhancing resilience by better disaster-proofing communities. As part of the 2017 Federal Budget tabled Wednesday,

News Earnings / RatingsInsurance

Canadian p&c insurance industry sees solid premiums, but net income down in 2016: MSA Research

March 22, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry saw solid results for both direct premiums written (DPW) and net premiums written (NPW) in 2016, but that was countered by big decreases in both net income and underwriting income, note new figures

News InsurancePersonal LinesTechnology

New DGIG water protection program available country-wide

March 21, 2017 by Canadian Underwriter

Desjardins General Insurance Group has announced the cross-country availability of a new home insurance program designed to keep policyholders informed of potential leak sources so that action can be taken and water-related damage prevented. Water damage accounts for more than

News CatastrophesClimate ChangeCommercial LinesInsuranceMarkets / CoveragesReinsurance

Risk to U.S. property from severe convective storms as high as from hurricanes: Willis Re

March 20, 2017 by Canadian Underwriter

Severe convective storms (SCS) posed as much risk to property in the United States as hurricanes between 2003 and 2015, with the average annual loss from SCS amounting to US$11.23 billion compared to US$11.28 billion from hurricanes. So concludes a

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

News InsuranceTechnology

InsurEye adds independent mortgage, credit card consumer reviews to platform

March 15, 2017 by Canadian Underwriter

The largest Canadian platform for insurance reviews has launched independent consumer reviews for mortgage and credit card products, InsurEye announced Wednesday. “Our platform has already been offering nearly 3,000 home, auto and life insurance reviews to inform Canadian consumers about

News AssociationsCatastrophesClimate ChangeInsuranceReinsurance

IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government

March 15, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with

News CatastrophesClimate ChangeInsurancePersonal Lines

Desjardins Insurance offers new flood coverage for low-, medium-risk areas

March 14, 2017 by Canadian Underwriter

Customers of Desjardins Insurance, The Personal and State Farm Canada who live in low-risk flood areas will now automatically be covered by a new flood endorsement while those in medium-risk areas can choose to purchase an additional premium. Endorsement 16d

News AssociationsCommercial LinesInsurancePersonal LinesReinsuranceTechnology

ATB Financial joins R3 distributed ledger consortium

March 10, 2017 by Canadian Underwriter

ATB Financial announced Thursday that the Alberta-based financial services provider has joined the consortium of financial innovation firm R3 to design and apply distributed and shared ledger-inspired technologies to global financial markets. The company will be collaborating with more than

News Commercial LinesInsurancePersonal LinesTechnology

Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company

March 9, 2017 by Canadian Underwriter

The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying

News Earnings / RatingsInsurance

Kingsway Financial Services Inc. posts net loss for both full-year, fourth quarter 2016

March 8, 2017 by Canadian Underwriter

Several significant events during the fourth quarter of 2016 contributed to Kingsway Financial Services Inc. (KFS) reporting a net loss for both the quarter and the full year. For all of 2016, the company posted a loss of about US$9.4