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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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Boyd Group Income Fund to acquire collision repair company Assured Automotive for $193.6 million

May 30, 2017 by Canadian Underwriter

Boyd Group Income Fund (BGIF) is looking to cement the Boyd Group’s position as a leading provider of collision repair services in Canada with the announcement it has entered into a definitive agreement to acquire the assets and business of

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

ICLR to host webinar on effects of hail on vehicles

May 29, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will host a webinar next month on the effects of hail on vehicles. The Hail Impacts on Automobiles: A state-of-the-art-review webinar will be held on June 16 from 10 a.m. to 11:30 a.m.

News AssociationsCatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

News Technology

Hurdles to digital transformation remain, half of respondents have formal strategy: global survey

May 24, 2017 by Canadian Underwriter

Some things seem to persist, including how inflexible IT systems, organizational silos and security concerns continue to rear their heads as obstacles to global enterprises adopting formal strategies for digital transformation. So suggests the Enterprise Digital Transformation Strategies: Turning Disruption

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Canadian companies lag in cybersecurity investments, survey finds

May 23, 2017 by Canadian Underwriter

More than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that

News InsuranceMergers and AqcuisitionsReinsurance

Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing

May 23, 2017 by Canadian Underwriter

Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS

May 18, 2017 by Canadian Underwriter

The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Many global Internet users unprepared for dealing with ransomware attack, study finds

May 17, 2017 by Canadian Underwriter

As institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Global uptick in CEOs forced out of office for ethical lapses, Canada among lowest incidence of dismissals: Strategy&

May 17, 2017 by Canadian Underwriter

An analysis of CEO successions at the world’s largest 2,500 public companies over the past 10 years shows a marked increase in forced turnovers for ethical lapses, although Canada is among the countries with the lowest incidence of such dismissals.

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Rogers Insurance Ltd. obtains minority shares purchase of Megson FitzPatrick Inc.

May 16, 2017 by Canadian Underwriter

Rogers Insurance Ltd. announced on Tuesday that it will obtain a minority shares purchase of Megson FitzPatrick Inc. The partnership between Calgary-based Rogers Insurance and Victoria, B.C.-based Megson FitzPatrick became effective May 5, Rogers Insurance said in a press release

News InsuranceMergers and Aqcuisitions

Canadian auto insurance customer satisfaction climbs despite premium increases: J.D. Power study

May 15, 2017 by Canadian Underwriter

Customer satisfaction with auto insurance in Canada has increased for the second consecutive year despite nationwide premium increases, according to the newly released J.D. Power 2017 Canadian Auto Insurance Satisfaction Study. The study, released on Monday, found that across all