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Risk Management

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LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs

January 24, 2017 by Canadian Underwriter

LexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.

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News InsurancePersonal LinesTechnology

New mobile app allows policyholders to self-serve auto, property insurance policies through their mobile devices

January 24, 2017 by Canadian Underwriter

KTX Insurance Brokers Ltd. is looking to respond to consumer demand to interact online with the launch of a new mobile app that allows policyholders to access both advice from licensed brokers and self-serve their insurance policies online. Through the

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News Commercial LinesInsuranceLegal

Intact must help defend pollution lawsuit due to exception in exclusion for “sudden and accidental” release

January 23, 2017 by Canadian Underwriter

Intact Insurance must participate in the defence of a lessee of commercial property – on a Grimsby, Ont. site formerly occupied by a gas station – which is being sued by a neighbouring property owner alleging that contaminants migrated to

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U.S. Department of Transportation designates 10 automated vehicle “proving grounds” to encourage testing of new technologies

January 23, 2017 by Canadian Underwriter

The U.S. Department of Transportation (DOT) has announced that it has designated 10 “proving ground” pilot sites to encourage testing and information sharing related to automated vehicle technologies. Former U.S. Transportation Secretary Anthony Foxx announced the designations last week before

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News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

ILS sector set to gather pace after subdued 2016: Aon study

January 23, 2017 by Canadian Underwriter

The insurance-linked securities (ILS) sector is set to gather steam this year, with a record amount of catastrophe bonds to mature in the first half of 2017, according to a new report from Aon Securities. Aon Securities, the investment banking

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IoT botnets present unmanageable cyber security risk: Juniper Research

January 23, 2017 by Canadian Underwriter

The scale of embedded connectivity could lead to an unmanageable cyber security risk created by botnets, Juniper Research Limited cautioned Monday in releasing data indicating the consumer Internet of Things (IoT) installed base will reach 15 billion-plus units by 2021.

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News Commercial LinesInsuranceLegislation / RegulationMarkets / CoveragesReinsurance

AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty

January 20, 2017 by Canadian Underwriter

American International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for

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News CatastrophesInsuranceMarkets / Coverages

Joy erupts as Italian rescuers pull out avalanche survivors

January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESS

FARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people

News Commercial LinesInsuranceLegislation / RegulationMarkets / Coverages

Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best

January 20, 2017 by Canadian Underwriter

Ratings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to

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News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Rule-making authority essential for Ontario’s new FSRA: Cooke

January 20, 2017 by Angela Stelmakowich

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of

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News Commercial LinesInsurance

Canada needs new regulations for commercial fishing vessels of all sizes: TSB

January 19, 2017 by Canadian Underwriter

If fishing vessel operators conduct regular safety meetings, they can review on-board hazards and remind crew of safety precautions, the Transportation Safety Board of Canada suggested in an investigation report released Thursday. TSB – a separate organization from Transport Canada

News CatastrophesInsuranceMarkets / Coverages

Rescuers search for 30 after avalanche hits Italian hotel

January 19, 2017 Colleen Barry, Nicole Winfield and Valentina Onori - THE ASSOCIATED PRESS

PENNE, Italy – Rescue workers reported no signs of life Thursday at a four-star hotel buried by an avalanche in the mountains of earthquake-stricken central Italy. Two bodies were recovered of the estimated 30 people trapped inside as the risk