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Munich Re
Blockchain technology a source of both disruption and opportunity for insurers: Novarica
November 21, 2016 by Canadian UnderwriterBlockchain technology will be a source of both disruption and opportunity for insurers, according to a new report from Boston-based research and advisory firm Novarica. In its latest executive brief, released on Monday, Novarica predicted that the technology would have…
More than half of polled P&C insurers aware of implications and potential of blockchain: Strategy Meets Action
November 11, 2016 by Canadian UnderwriterMore than half of P&C insurers surveyed by insurance strategic advisory firm Strategy Meets Action (SMA) are at least aware of the implications and potential of blockchain in the industry, a new report from the company has found. In particular,…
Munich Re posts profit of 684 million euros in third quarter
November 10, 2016 by Canadian UnderwriterMunich Re has posted a profit for 684 million euros in the third quarter of 2016 ending Sept. 30, up from 525 million euros in the same quarter last year. For the first nine months of the year ending Sept.…
The Boiler Inspection and Insurance Company of Canada launches new equipment breakdown insurance coverages for small businesses
November 7, 2016 by Canadian UnderwriterThe Boiler Inspection and Insurance Company of Canada (HSB BI&I) has launched a new comprehensive equipment breakdown insurance package – All Systems Go Plus, with new TechAdvantage coverages, designed for small businesses in Canada. Launched last week, the All Systems…
IoT infrastructure investments to be covered by new industrial insurance
November 2, 2016 by Canadian UnderwriterRelayr is partnering with Hartford Steam Boiler (HSB), part of Munich Re, to develop customized insurance products to help relayr customers making Internet of Things (IoT) investments protect their return on those investments. Pointing out that that HSB has 150…
Aegon, Allianz, Munich Re, Swiss Re and Zurich launch blockchain initiative B3i
October 19, 2016 by Canadian UnderwriterFive insurers and reinsurers – Aegon, Allianz, Munich Re, Swiss Re and Zurich – have launched the blockchain insurance industry initiative B3i, aimed at exploring the potential of distributed ledger technologies to better serve clients through faster, more convenient and…
Commercial insurance for Airbnb hosts available in Iowa from insurtech startup Slice
October 5, 2016 by Canadian UnderwriterSlice Labs Inc. announced Wednesday the launch of a private beta in which commercial insurance is being offered to hosts in Iowa who rent their homes. “The first product applies to homeshare hosts renting their homes on various homeshare platforms,”…
FEMA announces first-ever reinsurance agreement under NFIP
September 22, 2016 by Canadian UnderwriterThe Federal Emergency Management Agency (FEMA) announced on Thursday its first-ever reinsurance agreement under the National Flood Insurance Program (NFIP). The agreement will allow the NFIP to share flood risk with private reinsurance companies to help defray the cost of…
One in three Americans hacked in the past year, new HSB cyber survey finds
September 13, 2016 by Canadian UnderwriterMore than one-third of consumers in the United States experienced a computer virus, hacking incident or other cyberattack in the past 12 months, according to a new survey by Zogby Analytics for The Hartford Steam Boiler Inspection and Insurance Company…
Q2 combined ratio up 6.5 points for Munich Re
August 9, 2016 by Canadian UnderwriterMunich Re reported Tuesday a 6.5-point deterioration in its Q2 combined ratio in property & casualty reinsurance, as the recent wildfires in Northern Alberta and the April earthquakes in Japan were among the natural catastrophes that contributed to the firm’s…
Most companies unprepared for emergence of autonomous vehicles: Munich Re survey
July 19, 2016 by Canadian UnderwriterMost companies are unprepared for the emergence of autonomous vehicles (AVs), with 64% of polled risk managers saying that their companies have done nothing to prepare for the emergence of these vehicles in the auto market, according to a Munich…
Total worldwide economic losses for first half of 2016 at US$70 billion, up US$11 billion from 2015 half-year totals: Munich Re
July 12, 2016 by Canadian UnderwriterTotal worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said…