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New mobile app allows policyholders to self-serve auto, property insurance policies through their mobile devices

January 24, 2017 by Canadian Underwriter

KTX Insurance Brokers Ltd. is looking to respond to consumer demand to interact online with the launch of a new mobile app that allows policyholders to access both advice from licensed brokers and self-serve their insurance policies online. Through the

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Rule-making authority essential for Ontario’s new FSRA: Cooke

January 20, 2017 by Angela Stelmakowich

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

News InsuranceMergers and Aqcuisitions

Willis Towers Watson reports ‘meaningful’ price hike in commercial auto, modest price drops in other lines

December 12, 2016 by Canadian Underwriter

Commercial auto prices were generally up year over year in the third quarter, but there were “modest” prices decreases in other lines including commercial property and surety bonds, Willis Towers Watson plc said in its most recent Commercial Lines Insurance

News Earnings / Ratings

Policy uncertainty, rising rates pose credit risks in North America: S&P report

December 7, 2016 by Canadian Underwriter

Canada is expected to witness a slower pick-up in business investment until a clearer picture develops on recent developments around credit conditions south of the border, including the influence of the outcome of the recent U.S. election, suggests a briefing

Feature

Pedal to the Metal

December 1, 2016 Steve Millstein, Senior Vice President, Sales and Business Development, Intelligent Mechatronic Systems Inc.

Automakers and auto insurers could be on a collision course over driving-related data that is becoming available because of advances in technology and customer demands for connectivity. Will these industries increasingly be at odds or will they be able to work together for the benefit of all?

News InsuranceMergers and Aqcuisitions

Collisions claims continue to inch up overall: Allstate Canada study

November 30, 2016 by Canadian Underwriter

Auto collisions claims among Allstate Insurance Company of Canada customers in four provinces rose 1.7% over the previous study period, reflecting increases in some jurisdictions and decreases in others. Results of the eighth annual Allstate Canada Safe Driving Study show

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The 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

News InsuranceMarkets / CoveragesProfessional Development

RIBO overhauls spot check program to include consideration of conduct requirements, expectations: Hitchlock

November 10, 2016 Angela Stelmakowich, Editor

The Registered Insurance Brokers of Ontario (RIBO) has embarked on a major overhaul of its spot check program with the twin goals of promoting better consumer protection and improved broker risk management, says Norma Hitchlock, RIBO’s outgoing president. While the

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best

November 9, 2016 by Canadian Underwriter

Current-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.

News InsuranceMergers and AqcuisitionsTechnology

Insurers must realign business to suit customer needs and expectations for the future, not the past: Majesco

November 4, 2016 by Canadian Underwriter

The factors influencing customer loyalty are changing, demanding that insurers rethink and realign how their businesses meet customer expectations, notes a new thought leadership report released Thursday by Majesco. A significant gap exists between consumer needs and expectations and what

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Echelon Financial Holdings Inc. posts net income of $1.4 million in 2016 Q3, up from $1.3 million loss in 2015 Q3

November 3, 2016 by Canadian Underwriter

Echelon Financial Holdings Inc. has posted a net income of about $1.4 million in 2016 Q3 compared to a $1.3 million loss in 2015 Q3, although net operating income for the most recent quarter decreased markedly as a result of