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Markets / Coverages
Premium renewal rate positive across almost the majority of commercial product lines in U.S.: IVANS
August 3, 2017 by Canadian UnderwriterThe premium renewal rate change for most standard commercial lines products in the United States remained in positive territory for July, with workers’ compensation representing the only standout, notes the latest IVANS Index. The majority of standard commercial lines products…
RSA reports combined ratio of 94.8% for first half of 2017 in Canada ‘despite higher large losses’
August 2, 2017 by Canadian UnderwriterRSA Insurance Group plc reported Wednesday that its net premiums written in Canada during the six months ending June 30 were 5% higher, on a constant rate of exchange basis, than in the same period in 2016. Meanwhile, in Canada,…
Global software company Symbility Solutions partners with Toronto’s DeepLearni.ng to bring AI to property insurance
August 2, 2017 by Canadian UnderwriterGlobal software company Symbility Solutions Inc. announced on Wednesday that it has entered into a new partnership with Toronto-based DeepLearni.ng to bring artificial intelligence (AI) solutions into property insurance. Symbility said in a press release that “by closely collaborating with…
Digital and app users not waiting around, quick to bail on non-responsive service: Australia research
August 2, 2017 by Canadian UnderwriterA huge divide exists between consumer expectations of their digital service experience and what is being delivered, with three-quarters of recently polled consumers in Australia reporting they will stop trying a digital app or service within a minute if it…
Ransomware attacks continue to rise, but accidental data breaches remain a major cause of loss: Beazley
August 1, 2017 by Canadian UnderwriterRansomware attacks continued their rise in the first half of 2017, up by 50% over the first half of 2016, but accidental breaches continue to be a major problem and account for 30% of breaches overall, specialist insurer Beazley reported…
Digitized payment gateways playing larger role for insurers: Novarica
August 1, 2017 by Canadian UnderwriterAs consumer expectations change, insurance carriers are moving towards fully digitizing more processes, including payment gateway technology, research and advisory firm Novarica said recently. In a new executive brief titled Payment Gateways in Insurance, Boston, Mass.-based Novarica provided an overview…
Risk and insurance revenue up 12% for Jardine Lloyd Thompson
July 31, 2017 by Canadian UnderwriterJardine Lloyd Thompson Group PLC recently released its financial results for the first six months of this year, reporting a 3% drop, on a constant rate of exchange, of risk and insurance revenue in Canada. London-based JLT reported July 27…
Ransomware, alternative crypto-currencies and increased deception tactics among key cyber threats: Accenture Security
July 31, 2017 by Canadian UnderwriterDestructive ransomware, alternative crypto-currencies and increased use of deception tactics are among the threats driving the lucrative cybercriminal marketplace, the security branch of professional services company Accenture said in a recent report. “The first six months of 2017 have seen…
WestJet reports disclosure of rewards program data from unauthorized third party
July 31, 2017 by Canadian UnderwriterWestJet reported on Friday that it has “become aware that some WestJet Rewards member profile data has been disclosed online by an unauthorized third party.” None of the data contained credit card or banking information, Calgary-based WestJet noted in a…
Ontario and Michigan launch North America’s first cross-border automated vehicle test drive
July 31, 2017 by Canadian UnderwriterOntario and Michigan are completing North America’s first cross-border automated vehicle test drive, Ontario’s Ministry of Transportation (MTO) reported on Monday. The test drive began in Detroit and will continue from the Ontario cities of Windsor and Sarnia before crossing…
Arthur J. Gallagher reports brokerage revenues of US$998.1 million for Q2 2017
July 31, 2017 by Canadian UnderwriterArthur J. Gallagher & Co. (AJG) has reported Brokerage revenues of US$998.1 million for the second quarter of 2017, up from US$997 million in the same quarter last year. Net earnings for the Brokerage segment for the quarter ending June…
Unrelenting heat, wind and lightning keeping firefighters, homeowners anxious in B.C.
July 28, 2017 The Canadian Press (CPSTF)KAMLOOPS, B.C. – Hot, dry conditions, gusty winds and a chance of lightning are expected to keep wildfire crews in British Columbia watchful this weekend. The BC Wildfire Service said its weather forecasters have issued a wind warning for the…