Topic
Markets / Coverages
Carpooling apps could reduce traffic 75% in New York City and help with pollution, energy usage: MIT study
January 6, 2017 by Canadian UnderwriterUsing carpooling options from companies like Uber and Lyft could reduce the number of vehicles on the road in the New York City by a factor of three without significantly impacting travel time, according to a new study from the…
Internet of Things spending to reach US$1.29 trillion by 2020, insurance industry to see fast spending growth: report
January 5, 2017 by Canadian UnderwriterWorldwide spending on the Internet of Things (IoT) was forecast to reach US$737 billion in 2016 and grow at a compound annual growth rate (CAGR) of 15.6% from 2015-2020 to US$1.29 trillion, according to the International Data Corporation (IDC). The…
Terrorism insurance calls for ‘high level of vigilance:’ Guy Carpenter
January 5, 2017 by Canadian UnderwriterReinsurers are “striving to close gaps” in policies covering terrorism, while the decline in reinsurance pricing has moderated, Guy Carpenter & Company LLC suggested in a release Thursday. “While there are many areas of focus for product expansion and evolution…
Crawford & Company finalizes majority acquisition of WeGoLook
January 5, 2017 by Canadian UnderwriterCrawford & Company announced on Thursday that it has finalized its majority acquisition of WeGoLook LLC, an online and mobile collaborative economy platform headquartered in Oklahoma City. Crawford & Company, an independent provider of claims management solutions to insurance companies…
University of Toronto to offer “first in Canada” certificate in forensic engineering
January 4, 2017 by Canadian UnderwriterThe University of Toronto (U of T) has announced that it will be offering a new certificate in forensic engineering, something the university calls a “first in Canada.” The U of T course is core to a new certificate in…
Canadian risk beginning to feature “fairly prominently” in cat bond market: PCS
January 4, 2017 by Canadian UnderwriterCanadian risk has begun to feature “fairly prominently” in the catastrophe bond market, with three cat bonds issued last year, according to Property Claim Services’ (PCS) full-year cat bond report for 2016. The report, titled Strong Finish: PCS FY2016 Catastrophe…
Alberta minister says province ‘still standing’ on Day 2 of carbon tax
January 3, 2017 Rob Drinkwater - THE CANADIAN PRESSEDMONTON – Alberta Environment Minister Shannon Phillips said the province was “still standing” a day after its carbon tax took effect, and Albertans who opposed the levy could start seeing rebate cheques within days. But Opposition Wildrose critic Don MacIntyre…
Belron Canada announces acquisition of vehicle damage repair company Speedy Collision
January 3, 2017 by Canadian UnderwriterBelron Canada has announced the acquisition of Speedy Collision, a network of 24 franchise collision centres located across Alberta, Saskatchewan and Ontario. Like other retail businesses, the automotive aftermarket service industry is changing as customers are more and more influenced…
Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm
January 3, 2017 by Canadian UnderwriterCatastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition…
Fairfax-Allied World deal among the ‘most noteworthy’ of recent insurance M&A announcements: Willis Re
January 3, 2017 by Canadian UnderwriterThe merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale…
ICLR to host webinar on Great Cascadia megathrust earthquakes
January 3, 2017 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar on “Great Cascadia megathrust earthquakes” on Thursday, Jan. 26 from 10 a.m. until 11:30 a.m. EST. The workshop, titled “Great Cascadia megathrust earthquakes: Past, present, and future,” will…
Economical Insurance completes acquisition of Canada’s largest pet insurer
January 3, 2017 by Canadian UnderwriterEconomical Mutual Insurance Company announced on Tuesday that is has completed its previously announced acquisition of Western Financial Insurance Company (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed its legal name to Petline…