Topic
Markets / Coverages
35% of top global insurers have appointed a chief digital officer to oversee business transformation: PwC’s Strategy&
June 26, 2017 by Canadian UnderwriterMore than one-third of the world’s top insurance companies have appointed an executive – commonly known as a chief digital officer (CDO) – to oversee the digital transformation of their business, according to a new study from Strategy&, PwC’s strategy…
Personal injury lawsuit against bike park operator dismissed due to wording of waiver signed by plaintiff
June 26, 2017 by Canadian UnderwriterInsurers of mountain bicycle riding parks should be able to “breathe a sigh of relief” due to a recent court decision from British Columbia, a blogger with an insurance law firm wrote in a recent post. Dr. Blake Jamieson suffered…
Weaker inflation slows to 1.3%, could weigh on Bank of Canada’s rate decision
June 23, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month…
Global acquirers underperformed in the second quarter: Willis Towers Watson
June 23, 2017 by Canadian UnderwriterThe global mergers and acquisitions (M&A) market underperformed in the second quarter of 2017, as Europe M&A bucked the trend and market volatility and economic uncertainty depressed performance in North America and Asia, according to Willis Towers Watson’s (WTW) latest…
Federal bill aiming to ‘promote greater shareholder democracy’ tabled in Senate
June 23, 2017 by Canadian UnderwriterA bill proposing to give shareholders the option, under the Canada Business Corporations Act, to vote against corporate directors rather than merely withholding votes – and to abolish bearer shares – was tabled Wednesday in the Senate. Bill C-25 “makes…
Officials say damaged rail line to Churchill, Man. could be fixed in two months
June 23, 2017 The Canadian Press (CPSTF)WINNIPEG – Indigenous and municipal leaders from northern Manitoba say a broken rail line to Churchill could be fixed in about two months if governments and the railway owner are willing to spend the money. Chief Betsy Kennedy of the…
Bill eliminating federal tax exemption for farming and fishing insurers passed into law
June 23, 2017 by Canadian UnderwriterThe federal government passed Thursday a law eliminating the tax exemption for insurers covering farming and fishing properties. Bill C-44 is omnibus legislation that implements, among other things, some provisions of the federal budget 2017-18, tabled March 22. In addition…
Cyber line expected to be one of the leading P&C growth areas in the U.S. over the next few years: A.M. Best
June 23, 2017 by Canadian UnderwriterThe cyber line of business is expected to be one of the leading growth areas within the property and casualty space in the United States, with cyber coverages estimated to increase between US$7.5 billion to US$20 billion by 2020, a…
U.S. company launches cloud for insurance, brings drone platform to p&c sector
June 22, 2017 by Canadian UnderwriterCalifornia-based Kespry is moving deeper into vertical markets with its formal entry into the insurance sector south of the border. The move follows extensive field tests and insurance-specific improvements designed together with customers and industry leaders, reports the aerial intelligence…
More use of aircraft voice and data recorders would ‘help identify hazards:’ TSB chair
June 22, 2017 by Canadian UnderwriterThe Transportation Safety Board of Canada is calling on the federal government to make cockpit voice recorders and flight data recorders mandatory on more aircraft and to allow use of the data in safety management systems. “In Canada, only multi-engine,…
Employee awareness, training key to building a solid cyber security culture: Echols
June 22, 2017 by Canadian UnderwriterA little competition could be a good thing, especially when it comes to building a cyber security culture, cyber expert Michael Echols suggested last week during a symposium co-hosted by the Travelers Institute and Economic Club of Canada. Developing a…
Retailers could lose US$71 billion from fraudulent card-not-present transactions in next five years: Juniper
June 21, 2017 by Canadian UnderwriterA number of factors, including click-and-collect fraud, have been identified as contributing to Juniper Research’s forecast that retailers stand to lose US$71 billion globally from fraudulent card-not-present (CNP) transactions over the next five years. Part of a new research issued…