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Mobile telematics data can offer rich insights into distracted driving and impact loss trends, Insurance Analytics Canada speaker suggests

June 28, 2017 by Jason Contant, Online Editor

Mobile telematics data, while sometimes providing “noisy,” or meaningless information, can also offer rich insights on distracted driving that could impact loss trends, a speaker suggested on Wednesday at the third annual Insurance Analytics Canada Summit in Toronto. Ted Gramer,

News Commercial LinesInsuranceLegislation / RegulationMergers and AcquisitionsReinsurance

Fairfax-Allied merger offer expires Friday night

June 28, 2017 by Canadian Underwriter

Shareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas

News CatastrophesInsurance

$1.185B flood protection project to lead to Toronto waterfront makeover

June 28, 2017 by THE CANADIAN PRESS

TORONTO – A portion of Toronto’s waterfront is set to undergo a nearly $1.2 billion flood protection project that will lead to a makeover of the area. Prime Minister Justin Trudeau, Ontario Premier Kathleen Wynne and Mayor John Tory announced

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Wildfires destroy homes in southwestern U.S.

June 28, 2017 by THE ASSOCIATED PRESS

SALT LAKE CITY – Utah firefighters braced Wednesday for more high winds as they try to slow a stubborn wildfire that has burned 13 homes and forced the evacuation of 1,500 people from a ski resort town. Firefighters hope to

News InsuranceTechnology

Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One

June 28, 2017 by Disruption

There appears to be a divide between middle-market companies fully expecting that disruption will unfold and taking concrete steps to address whatever risk that change may bring, suggest findings of a new study from New York-based Capital One Commercial Bank.

News AssociationsCatastrophesInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Canadian Council of Insurance Regulators releases 2017-2020 strategic plan

June 28, 2017 by Canadian Underwriter

The Canadian Council of Insurance Regulators (CCIR) has published its strategic plan for 2017-2020, which focuses its efforts on cooperative supervisory activities, fair treatment of consumers, risks and coverages related to nat cats, and a cooperative approach to financial services

News CatastrophesInsurancePersonal LinesProductsReinsurance

MSA calls for ‘sustainable solution for underinsurance’ in overland flood

June 27, 2017 by Canadian Underwriter

A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In

News Commercial LinesInsuranceMarkets / CoveragesTechnology

New cyberattack causes mass disruption globally

June 27, 2017 by Canadian Underwriter

One month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported

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Fire destroys N.L. apartment complex, leaves dozens homeless in St. John’s

June 27, 2017 by The Canadian Press (CPSTF)

JOHN’S, N.L. – A massive, fast-moving fire at a public housing complex has forced about 35 people out of their homes in a blaze that sent large plumes of smoke billowing above St. John’s, N.L. Fire platoon Chief Brian Tucker

News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal LinesReinsurance

Investment income doubles for Canadian P&C industry: MSA

June 27, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.

News InsuranceMarkets / CoveragesPersonal Lines

Canadians “greatly overestimate” their financial literacy skills, including those related to auto insurance: survey

June 27, 2017 by Canadian Underwriter

More than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a

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Municipality of North Perth, OPP and Trillium Mutual Insurance join forces on reducing auto thefts

June 27, 2017 by Canadian Underwriter

Ontario’s Municipality of North Perth, Perth County Ontario Provincial Police (OPP) and Trillium Mutual Insurance have joined resources to help reduce auto thefts in the area. The Municipality of North Perth, located west of Toronto, said in a press release