Canadian Underwriter

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Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB

August 23, 2017 by Canadian Underwriter

Responses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than

News AssociationsInsuranceProductsTechnology

Collaboration leads to milestone achievement to define data exchange standards between companies, brokers

August 23, 2017 by Canadian Underwriter

The long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance

News AssociationsCatastrophesInsuranceMergers and AqcuisitionsTechnology

Proposed model law could beef up U.S. insurers’ cyber risk management

August 17, 2017 by Canadian Underwriter

New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

TechCanary makes available enhanced insurance platform for Canadian market

July 26, 2017 by Canadian Underwriter

U.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers. TechCanary

News ConstructionInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

July 20, 2017 by Canadian Underwriter

Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Brokers taking the initiative to embrace digital transformation: Insurance Analytics Canada speaker

July 4, 2017 Jason Contant, Online Editor

Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based

News AssociationsInsuranceMarkets / CoveragesMergers and AqcuisitionsProducts

Specialist Lloyd’s broker now providing regional Canadian brokers with direct access to London liability insurance market

June 29, 2017 by Canadian Underwriter

Servca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Gore Mutual Insurance Company to acquire Howard Noble Insurance Limited

June 29, 2017 by Canadian Underwriter

Gore Mutual Insurance Company announced on Wednesday that is has agreed to acquire Howard Noble Insurance Limited, a regional broker in Georgian Bay and Simcoe County in Ontario. Gore Mutual CEO Heidi Sevcik noted in a press release that Noble

News InsuranceMergers and AqcuisitionsTechnology

Customers in driver’s seat, geared up for experimenting with insurance offerings: webinar

June 29, 2017 by Angela Stelmakowich

Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for

News ConstructionInsuranceMarkets / Coverages

Approved Surety & Casualty launches program to enhance contractor bonding limit

June 12, 2017 by Canadian Underwriter

Toronto-based Approved Surety & Casualty Inc. announced on Monday that is has launched a capital disbursement program for brokers to enhance contractor bonding limit. “Approved Capital is a capital disbursement program for brokers that will allow their contractor clients to

News InsuranceLegalLegislation / RegulationProductsProfessional Development

Economical Insurance simplifies its business with changes to legal entities

June 6, 2017 by Canadian Underwriter

Economical Insurance announced on Tuesday that it is “migrating to a simpler legal entity structure while continuing to offer a wide range of products and excellent service to broker partners and customers” as it continues its journey to become a

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentReinsuranceTechnology

Technological change and cyber risk overtake regulation as top risks for global insurers: study

May 31, 2017 by Canadian Underwriter

The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of