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Fire at historic church just outside Halifax a ‘devastating’ blow: member

March 22, 2017 by The Canadian Press

NORTH PRESTON, N.S. – Fire has caused extensive damage to a large, historic church considered the cornerstone of a small community just east of Halifax. Firefighters from five stations were called Wednesday at 9:30 a.m. to extinguish a stubborn blaze

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Internal audit departments starting to embrace data analytics, but full potential unrealized: Protiviti survey

March 22, 2017 by Canadian Underwriter

Internal audit departments are starting to embrace data analytics, but many have far to go to achieve their full potential, according to a survey from global consulting firm Protiviti. The Embracing Analytics in Auditing report, released on Monday, involved the

News CatastrophesCommercial LinesInsuranceMarkets / Coverages

Using air brakes alone increases risk of runaway trains: TSB

March 22, 2017 by Canadian Underwriter

There has been an increase, since 2014, in the number of uncontrolled movements of rail cars, the Transportation Safety Board of Canada warned Wednesday. TSB released Wednesday a report into an incident in 2016 in which a tank car rolled

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ICBC enhances online driver licensing and claims services for customers

March 22, 2017 by Canadian Underwriter

Checking wait times at driver licensing offices or the status of a claim from the Insurance Corporation of British Columbia (ICBC) can now be done online thanks to new service enhancements. ICBC said in a press release on Wednesday that

News InsurancePersonal LinesTechnology

LexisNexis Risk Solutions explores roadmap to “touchless” claims

March 22, 2017 by Canadian Underwriter

While some insurance carriers continue to favour traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to “touchless claims,” according to a new report

News Climate ChangeInsuranceMarkets / Coverages

Earth had second warmest February on record this year: NOAA

March 22, 2017 by Canadian Underwriter

February 2017 was the second warmest February in the 1880-2017 record-keeping period, behind 2016, the National Oceanic and Atmospheric Administration (NOAA) reported recently. February 2017’s average global temperature was 1.76 degrees Fahrenheit above the 20th century average of 53.9 degrees

News Earnings / RatingsInsurance

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

March 22, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry saw both direct premiums written (DPW) and net premiums written (NPW) increase in 2016 over 2015, but that was countered by big decreases in both net income and underwriting income, note new figures

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Economy making progress, but risks remain, BoC deputy governor says

March 21, 2017 by The Canadian Press

VANCOUVER – The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada said Tuesday. Lawrence Schembri said recent economic data has been

News Earnings / RatingsInsuranceReinsurance

DBRS teams up with MSA Research to provide its insurer ratings on MSA’s analytical platform and reports

March 21, 2017 by Canadian Underwriter

MSA Research Inc. (MSA) announced on Monday that it will carry exclusively the insurer ratings of DBRS Ltd. on its MSA Research Platform and printed reports. With this partnership, up-to-date ratings from DBRS will now be available at the fingertips

News Commercial LinesInsuranceMarkets / CoveragesPersonal Lines

St. John’s, Nfld.-based brokerage Cal LeGrow Insurance joins Canadian Broker Network

March 21, 2017 by Canadian Underwriter

Canada’s network of independent insurance brokers, the Canadian Broker Network (CBN), announced on Tuesday that Cal LeGrow Insurance Ltd., from St. John’s, Newfoundland, has joined the network. “We are thrilled to have Cal LeGrow join CBN,” Lorie Phair, managing director

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Supreme Court of Canada could consider whether alcohol consumption is relevant in dangerous driving trials

March 21, 2017 by Canadian Underwriter

Canada’s highest court may consider whether a jury, in deciding whether a person is guilty of the criminal offence of dangerous driving causing death, should consider whether the accused had been drinking alcohol, if the accused was not convicted of

News Commercial LinesInsuranceLegalMarkets / CoveragesTechnology

IBM and SecureKey Technologies to deliver blockchain-based network for Canadian consumers

March 21, 2017 by Canadian Underwriter

IBM and SecureKey Technologies, an identity and authentication provider company, announced on Monday that they are joining forces to “enable a new digital identity and attribute sharing network” based on IBM Blockchain. “The network will be designed to make it