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Chubb expands suite of cyber loss mitigation services for Canadian and U.S. policyholders

December 22, 2016 by Canadian Underwriter

Chubb announced on Thursday an expanded suite of cyber loss mitigation services is now available to help the company’s policyholders in Canada and the United States reduce the impact and likelihood of a cyber incident. According to a press release

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

BlackBerry creates autonomous vehicle innovation centre in Ottawa

December 20, 2016 by Canadian Underwriter

BlackBerry has announced the creation of the BlackBerry QNX Autonomous Vehicle Innovation Centre (AVIC). John Chen, executive chairman and CEO of BlackBerry Limited and Canadian Prime Minister Justin Trudeau unveiled AVIC on Monday. Housed within the BlackBerry QNX facility in

News InsuranceMergers and AqcuisitionsProfessional DevelopmentReinsurance

Benefits of merging Fairfax and Allied World ‘far outweigh’ overlap in reinsurance: Fairfax Insurance COO

December 19, 2016 by Canadian Underwriter

The merger agreement announced Sunday by Toronto-based Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG will give Fairfax a “rather different profile” of insurance business than it currently owns, but it is not clear what percentage of

News Climate ChangeEarnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentReinsurance

Swiss Re adopts climate-related financial disclosure recommendations

December 14, 2016 by Canadian Underwriter

Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Swiss Re helped develop the voluntary guidelines on climate risk reporting and is a member of the

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report

December 13, 2016 by Canadian Underwriter

Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional DevelopmentTechnology

Continued consolidation in Canadian broker and carrier spaces could create absence of mid-sized players: KPMG conference speaker

December 7, 2016 Jason Contant, Online Editor

The continued consolidation in both the insurance broker and carrier spaces in Canada could create an absence of mid-sized players, a speaker suggested on Wednesday at KPMG’s 25th Annual Insurance Conference in Toronto. “You could see a creation of an

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Biggest changes for insurers in 2017 could come from product innovation, predictive analytics, cybersecurity and digital distribution: Novarica

December 6, 2016 by Canadian Underwriter

The biggest changes for insurers in 2017 could come from product innovation, predictive analytics, cybersecurity and digital distribution, according to a new executive brief from Boston-based research and advisory firm Novarica. Released on Tuesday, the report, titled Five Potential Changes

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Aviva Community Fund grand prize winners announced

December 6, 2016 by Canadian Underwriter

Aviva Canada has announced the 13 grand prize winners of the Aviva Community Fund (ACF) competition. The 13 grand prize winners will share $1 million in funding from ACF and will also have access to a number of free services

News InsuranceMergers and AqcuisitionsProfessional Development

Archway Insurance enters nine New Brunswick communities with the purchase of Alliance Assurance, effective Dec. 31

December 6, 2016 by Canadian Underwriter

Archway Insurance, one of Atlantic Canada’s largest insurance brokerages, announced on Tuesday that it will purchase Alliance Assurance effective Dec. 31. Alliance is one of the largest brokerages in New Brunswick, with nine locations serving communities across the province, Archway

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Liberty Mutual announces acquisition of Ironshore Inc. from Fosun International Limited

December 5, 2016 by Canadian Underwriter

Boston-based Liberty Mutual Insurance announced on Monday that it has signed a definitive agreement to acquire Ironshore Inc., a global specialty lines company, from Fosun International Limited. The transaction is expected to close in the first half of 2017, pending

News InsuranceMergers and AqcuisitionsProfessional Development

Insurer profitability, broker expertise key drivers of customer satisfaction in large commercial insurers in Canada and U.S.: J.D. Power study

December 5, 2016 by Canadian Underwriter

The key variables driving overall commercial insurance customer satisfaction in Canada and the United States are insurer profitability and broker expertise, according to the J.D. Power 2016 Large Commercial Insurance Study. The survey, which provides an “independent and objective” measure

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

Ontario launches consultations to cut red tape in financial services sector

December 1, 2016 by Canadian Underwriter

The province of Ontario is launching consultations until the end of January 2017, asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector. Feedback can be