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Markets / Coverages
U.S. telematics, UBI face market limits, value-added services may be key to growth: Novarica
July 13, 2016 by Canadian UnderwriterA focus on services-based programs, and not discounts, will be a crucial differentiator for telematics and usage-based insurance (UBI) in the United States as insurers look to increase customer adoption and market growth, research and advisory firm Novarica said in…
Non-life catastrophe bond issuance hits US$2.8 billion: WCMA
July 12, 2016 by Canadian UnderwriterMarket issuance of non-life catastrophe bonds for the first half of the year amounted to US$2.8 billion, with six transactions in the second quarter accounting for US$1 billion of capacity, notes a report from Willis Capital Markets & Advisory (WCMA).…
Oilsands companies not expected to make insurance claims from Fort McMurray fire
July 11, 2016 by Canadian UnderwriterCALGARY – Oilsands producers are not expected to be among the recipients of a record insurance payout arising from the wildfire in Fort McMurray, Alta., in May even though some of them had to halt production for weeks at a…
Shake-ups expected in sectors of wearable technology market: report
July 11, 2016 by Canadian UnderwriterDespite the total core wearable technology market growing to more than US$150 billion by 2026, independent market research company IDTechEx predicts “shake-ups in several prominent sectors, with commoditization hitting hard.” IDTechEx said in its Wearable Technology 2016-2026 report, released on…
The Digital Edition of Canadian Underwriter magazine’s 2016 STATISTICAL ISSUE
July 8, 2016 by Canadian UnderwriterDigital Edition below ↓ Canadian Underwriter magazine’s 2016 STATISTICAL ISSUE Digital Edition – including all the insurance company and reinsurance 2015 annual results. Digital Edition below ↓ Archived Digital Editions: http://bit.ly/cuarchive
BrokerLink announces acquisition of Cornerstone Insurance Brokers Ltd.
July 5, 2016 by Canadian UnderwriterBrokerLink will welcome 90-plus employees and increase the property and casualty insurance brokerage’s footprint to more than 75 locations in Ontario with the acquisition of Cornerstone Insurance Brokers Ltd. The terms of the transaction were not disclosed, notes a statement…
Just 47% of corporations have cyber security strategy to combat employee blackmail, bribes to gain access to corporate information: report
July 5, 2016 by Canadian UnderwriterThe lion’s share of surveyed IT decision-makers at large multinational corporations may be aware that employees are being employed to gain access to information, but about half of respondents do not have a cyber security strategy to prevent such behaviour.…
Widespread reinsurance pricing stabilization remains elusive: Willis Re
July 4, 2016 by Canadian UnderwriterAny indication of widespread reinsurance pricing stabilization remains elusive amidst an environment of continuing market softening in the June/July renewal season, lack of catastrophe losses and abundant capacity across virtually all classes and territories, notes a new report issued Friday…
Tipping Point
July 2, 2016 Richard Clark, Business Development Director, Xuber, a CSC companyIt appears that surveyed reinsurers have finally reached the technology tipping point. Digitization is now seen as key to the change that must unfold. It is believed that those who quickly move to create solutions that are grounded in modern technology, taking into account how insurance is bought, sold and managed, will be the most likely winners.
Response to Recovery
July 2, 2016 Bill Adams, Vice President, Western and Pacific, Insurance Bureau of CanadaWhat has been projected to be Canada’s largest insured loss event, the wildfire in and around Fort McMurray, perhaps will become known for something more positive: how early, co-ordinated and collaborative insurance industry response can help smooth the way to recovery.
Death of the Pricing Cycle?
July 1, 2016 Sean van Zyl, Freelance WriterThe medieval nursery rhyme, ring a ring o’ roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry’s past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?
Alberta’s new insurance policy for TNCs a first for a Canadian province, policy available July 1
June 30, 2016 by Canadian UnderwriterA new insurance policy for transportation network companies (TNCs) is available to insurance firms licensed in Alberta as of July 1, in line with the provincial government’s recently announced TNC framework geared at promoting fairness and road safety. The insurance…