There has been “very little impact,” on brokers and cedents, from recent mergers and acquisitions in the reinsurance industry, a speaker suggested Wednesday at Insurance Bureau of Canada’s Financial Affairs Symposium. “I think, a little surprisingly, to date there has…
Risk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers…
Aon Benfield will launch its new global reinsurer trading platform Apr. 11, a move meant to enhance placements with real-time data when ABConnect Placements goes live for July 1 treaty placements, the global reinsurance intermediary and capital advisor of Aon…
Beyond brokers themselves, good and accurate data is the lifeblood of brokerages today. Data is vital to meeting customer needs both today and in the future, meaning that when a broker management system conversion is needed, protecting and maintaining the integrity of that information is essential.
The Internet of Things brings with it both risks and rewards. But given the exclusions and wording issues in a number of policies, coupled with the paucity of judicial analysis, policyholders should not assume that coverage is available in the event of an IoT-related loss.
Canada can learn from the earthquake experience and loss elsewhere. Brokers in British Columbia are heartened by growing government support around prevention and recovery, but believe a shift from post-event disaster funding to securing funding sources before an event occurs will only help to further enhance resilience and reduce losses.
Specialty lines in the United States continue to be hypercompetitive, with technology playing an ever larger role in insurers’ ability to attract, retain and serve clients and brokers (agents) profitably, according to a new report from Novarica. The Business and…
The insurance industry may not be known for technological innovation, but there is a future for brokers who are willing to change, speakers said Tuesday during the annual general meeting of the Insurance Brokers of Toronto Region. “The only thing…
Travelers Canada is “very interested” in usage-based auto insurance using telematics, the company’s chief executive officer suggested Thursday, while Intact’s president said more than half of the new auto business it writes in Ontario comes with usage-based insurance (UBI). During…