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Markets / Coverages
Advanced analytics and other emerging technologies revolutionizing public sector agencies: Accenture
November 16, 2016 by Canadian UnderwriterAdvanced analytics and other emerging technologies are revolutionizing the way governments and public service agencies are trying to address citizen demands, helping to overcome persistent challenges such as regulatory compliance, outdated legacy IT infrastructures and organizational cultures, according to a new…
In world of Internet-enabled things, U.S. says security needed
November 16, 2016 Tami Abdollah - THE ASSOCIATED PRESSWASHINGTON – The Obama administration urged tech companies to make millions of devices safe from hacking, underscoring the risks posed by an increasingly bewildering array of internet-connected products permeating daily life, covering everything from fitness trackers to computers in automobiles.…
Province of Manitoba advises that former health department employee inappropriately accessed personal health information
November 16, 2016 by Canadian UnderwriterManitoba Health, Seniors and Active Living (MHSAL) has reported that a former health department employee inappropriately accessed the personal health information of 197 people, including names, addresses and dates of birth. MHSAL said on Monday that an internal investigation revealed…
Global natural disasters cost US$520 billion in losses every year, poor disproportionately affected: study
November 15, 2016 by Canadian UnderwriterThe impact of extreme natural disasters is equivalent to a global US$520 billion loss in annual consumption, forcing some 26 million people into poverty each year, a new report from the World Bank and the Global Facility for Disaster Reduction…
Canadian insurers ‘in a tough time for investments,’ A.M. Best analysts warn
November 15, 2016 Greg Meckbach, Associate EditorMergers and acquisitions in the reinsurance sector sometimes involve carriers acquiring managing general agents, while in Canada, M&As have involved insurers trying to “beef up certain parts of their enterprise,” analysts from A.M. Best Company Inc. suggested at a recent…
IBC applauds Ontario government’s decision to move forward with creation of new financial services regulator
November 15, 2016 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is applauding the Ontario government’s decision to move forward with the creation of a new financial services regulator. On Monday, the government of Ontario announced in its 2016 Ontario Economic Outlook and Fiscal Review…
Two hurt in mid-flight as Porter Airlines plane evades suspected drone
November 14, 2016 Colin Perkel - THE CANADIAN PRESSTORONTO – Two crew members of a Porter Airlines flight en route from Ottawa to Toronto were slightly injured Monday when a plane was forced to take evasive action to avoid a mid-flight collision with what is suspected to have…
Ontario to introduce legislation to establish new Financial Services Regulatory Authority
November 14, 2016 by Canadian UnderwriterThe Ontario government has announced that it will introduce legislation to establish the initial parameters for the Financial Services Regulatory Authority (FSRA), “a new independent and flexible regulator of financial services and pensions that, once established, would be more consumer-focused…
At least two dead in 7.8-magnitude New Zealand quake, widespread damage reported
November 14, 2016 by Canadian UnderwriterA powerful magnitude-7.8 earthquake and several large aftershocks struck New Zealand’s South Island in the early morning hours of Monday local time, killing at least two people and injuring several others, Impact Forecasting has reported. The U.S. Geological Survey (USGS)-registered…
More than half of polled P&C insurers aware of implications and potential of blockchain: Strategy Meets Action
November 11, 2016 by Canadian UnderwriterMore than half of P&C insurers surveyed by insurance strategic advisory firm Strategy Meets Action (SMA) are at least aware of the implications and potential of blockchain in the industry, a new report from the company has found. In particular,…
Net income for Allianz Group up 36.5% in Q3 2016 to 1.9 billion euros
November 11, 2016 by Canadian UnderwriterAllianz Group has reported that net income attributable to shareholders climbed 36.5% in the third quarter of this year ending Sept. 30 to 1.9 billion euros, due partly to better performance across its business segments. However, for the nine-month period ending…
Insurance rates decrease continued to moderate for third quarter in a row: Marsh
November 11, 2016 by Canadian UnderwriterThe third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that…