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Customer satisfaction with auto insurance in Canada increases for first time in five years: J.D. Power study
May 6, 2016 by Canadian UnderwriterCustomer satisfaction with auto insurance in Canada has increased for the first time in five years, according to the J.D. Power 2016 Canadian Auto Insurance Satisfaction Study, released earlier this week. The study, now in its ninth year, measures customer…
IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool
March 30, 2016 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems…
Link between oil price reduction, increase in major incidents: Marsh
March 24, 2016 by Canadian UnderwriterEnergy firms are facing challenges, including falling revenues, but are encouraged to maintain their investment in risk management to reduce the potential for future major incidents and insurance claims, suggests a new research report from global insurance broker and risk…
Millenials most likely to buy insurance online using tablets or mobile phones, but purchases via laptop/desktop computers remain dominant: Finaccord
March 22, 2016 by Canadian UnderwriterConsumers from the Millennial generation are more likely to buy insurance online using a tablet or mobile phone than their older counterparts, according to United Kingdom-focused research released on Tuesday by Finaccord, a market research, publishing and consulting company specializing…
2015 quiet in terms of global insured losses at US$30.5 billion, despite exceptionally strong El Nio: Guy Carpenter
March 22, 2016 by Canadian UnderwriterAlthough 2015 marked one of the strongest El Niño periods on record, it was a quiet year in terms of global insured losses, according to Guy Carpenter’s Global Catastrophe Review – 2015. The review, released on Tuesday, noted that there…
Cyber insurance growth expected to triple in a few years, rapid rise would be credit-negative: Fitch Ratings
March 22, 2016 by Canadian UnderwriterWhile cyber insurance growth is clearly on the rise – with 2015’s estimated US$3 billion in premiums possibly tripling in four years – the rapid expansion into standalone offerings brings with it concern the move could be credit-negative, suggests a…
Institute for Catastrophic Loss Reduction to host workshop on hailstorms and hail damage on April 8
March 21, 2016 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a workshop on hailstorms and hail damage on Friday, April 8. The session, titled Understanding the Characteristics of Hailstorms and Hail Damage through Laboratory and Field Research, will only be…
Global shipping losses down by 45% over a decade: Allianz Global Corporate & Specialty
March 21, 2016 by Canadian UnderwriterGlobal shipping losses continue their long-term downward trend with 85 total losses reported worldwide in 2015, according to the Allianz Global Corporate & Specialty (AGCS) fourth annual Safety and Shipping Review 2016, released on Monday. The shipping review, which analyzes…
Companies lack adequate data privacy, consent tools for evolving regulations and dynamic digital economy: global survey
March 21, 2016 by Canadian UnderwriterAlmost all IT professionals taking part in a recent global survey agreed customer data privacy concerns are a critical issue at the C-level, but fewer than one in 10 of respondents believe that current privacy and consent methods are adequate.…
Red River ‘expected to remain within its banks’ but snowmelt flooding closes Selkirk Park
March 18, 2016 by Canadian UnderwriterThere could be localized overland flooding in the western region of Manitoba, while the Red River is expected to peak in Winnipeg March 20 to 22, the Province of Manitoba stated Thursday in a release. “The Red River is expected…
Joint effort seeks to help reduce anchor losses, related damage
March 18, 2016 by Canadian UnderwriterA new investigation suggests many anchor losses are avoidable and shed light on a potentially bigger issue: the need for crews to be aware of the environmental loads for which equipment is designed. A rising number of anchor losses reported…
Transport Canada touts new flammable liquid emergency response training tool
March 17, 2016 by Canadian UnderwriterThe federal government announced Thursday that Transport Minister Marc Garneau has endorsed an online awareness tool for handling flammable liquid emergencies. The tool was developed by Enform, a group of six oil and gas industry associations. That tool “helps first…