Canadian Underwriter

Topic Technology

Billboard saying 'rebranding' with sunrise in the background
News BrokersOntarioOperationsTechnology

Expanding brokerage announces rebrand, new approach to insurance

February 16, 2022 by Jason Contant

Ontario brokerage Mitchell & Whale Insurance Brokers has announced it is rebranding its company under the new name Mitch.  Announced on Valentine’s Day, the rebrand will officially launch in late March and will be accompanied by a new value proposition

Cybersecurity concept
News CyberTechnology

Security committee finds gaps in federal cyberdefences that place vital data at risk

February 15, 2022 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The committee of MPs and senators which oversees federal security policy has uncovered gaps in Canada’s cyberdefences that could leave many agencies vulnerable to state-sponsored hackers from countries like China and Russia. In a new report, the National

Satellite orbiting the earth
News CatastrophesCommercialInsurersTechnology

New collaboration uses satellite data to develop new insurance products

February 9, 2022 by Jason Contant

Tokio Marine Holdings and ICEYE, a radar data provider and expert in NatCat solutions, have announced a commercial collaboration to develop new insurance products and services that utilize satellite data. ICEYE says Tokio Marine (whose Canadian branch has underwriting offices

Digital transformation concept
News CommercialTechnology

Steps to take in your digital transformation journey

February 8, 2022 by Jason Contant

Canada’s P&C insurance industry has been undertaking digital transformation initiatives for a while now, some of which have been accelerated by the ongoing COVID-19 pandemic.  But how does a brokerage or carrier know where to focus their investment, and understand

Different approach concept
News Emerging RisksOntarioOperationsTechnology

Regulation: A threat or benefit to innovation?

February 8, 2022 by Jason Contant

While there is a perception that regulation is a threat to innovation in the Canadian financial services space, that’s not the case, say executives from a fintech hub.  “[For] any start-up here in Canada, I think there’s a bit of

A set of floating lightbulbs with gear icons inside each one. A single lightbulb is lit up.
News Technology

Canadian brokerages leading the charge on digital strategy adoption

February 4, 2022 by Alyssa DiSabatino

Canadian brokers have a leg up on their counterparts in the United States and the U.K. when it comes to digital transformation, a recent survey finds. Seventy-three percent of Canadian brokerages say they have a digital strategy in place, and

Winter road in Toronto
News InsurersLegalOntarioPersonal AutoTechnology

Why don’t Ontario auto insurance clients have more choice?

February 2, 2022 by Jason Contant

Ontario auto insurance consumers would love the option to purchase a scaled-down auto insurance policy tailored to their individual needs and budgets, a speaker said at an industry event last week hosted by the Financial Services Regulatory Authority of Ontario

News LegalOntarioTechnology

Police charge seven suspects after high-end car theft investigation

February 2, 2022 by Maan Alhmidi - THE CANADIAN PRESS

TORONTO – A group of suspected thieves carjacked 28 high-end vehicles in north Toronto over several months and tried to ship them to destinations overseas, police said Tuesday as they announced seven arrests in the case. Insp. Richard Harris said

Concept of innovation
News InsurersLegalOntarioTechnology

FSRA’s case for principles-based regulation

February 1, 2022 by Jason Contant

Principles-based regulation is the right system for private sector innovation, a speaker told an industry event last week.  “If you imagine trying to deal with a highly innovative sector based on a very rules-based rigid, detailed system, I think it

Report about intangible assets on tablet
News MGAsTechnology

Intangible asset damage can be as costly as physical loss

January 27, 2022 by Greg Meckbach and Jason Contant

You can’t light them on fire. A tornado can’t blow them away. They won’t rot of mold when wet. Still, damage to intangible assets, like brand recognition and reputation, can harm a business as much as the destruction of a

ransomware on computer screen
News CyberLegalMGAsOperationsTechnology

Ransomware claims: behind the scenes

January 27, 2022 by Ashley Burdon

Sadly, many of your clients will have fallen victim to cybercrime over the past couple of years – their data held hostage, systems suspended, or payments redirected by some faceless criminal halfway around the world. Worse, despite the clear benefit

Auto production line in manufacturing plant
News Personal AutoTechnology

DesRosiers says Canadian auto production last year hit lowest level since 1967

January 27, 2022 by The Canadian Press

TORONTO – DesRosiers Automotive Consultants says Canada produced just over 1.1 million light vehicles last year for the lowest level of production since 1967. The low production numbers, down from 1.4 million in 2020 and close to two million in