Archway Insurance, one of Atlantic Canada’s largest insurance brokerages, announced on Wednesday that is has a new location in Cape Breton, N.S.: MacCoy Insurance Brokers Ltd. Effective July 1, MacCoy Insurance will become the 22nd location of Archway Insurance, which…
Fitch Ratings has announced that it has revised Lloyd’s of London’s outlook to negative from stable as result of “deterioration in underwriting performance, coupled with increasing exposure to catastrophe risk in the context of continuing pressure on both risk-adjusted premium…
The insurance industry has been very incremental in dealing with disruption and needs a drastic shift from historical analysis to predictive, future risk models, a speaker suggested on Wednesday at the Insurance Analytics Canada Summit. “You cannot disrupt with incrementalism,”…
Toronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders…
Insurance professionals who are implementing data analytics need to focus on what they want to achieve and need to deliver value quickly to senior business leaders, a Travelers Canada executive suggested Thursday at the Insurance Analytics Canada Summit. “The focus…
Toronto’s mayor says the cost of fixing the damage done to the city’s shorelines and the Toronto Islands by high water levels on Lake Ontario this summer will run to many millions of dollars. But John Tory warns the full…
Aviva Canada said earlier this week that is urging the Government of Quebec to maintain the 20% ownership limit of insurance brokerages by insurers in order to “reduce the potential for any conflict of interest and to enhance consumer confidence…
Servca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard…
Gore Mutual Insurance Company announced on Wednesday that is has agreed to acquire Howard Noble Insurance Limited, a regional broker in Georgian Bay and Simcoe County in Ontario. Gore Mutual CEO Heidi Sevcik noted in a press release that Noble…
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,…
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…
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…