Keyword
Commercial
More drone activity anticipated, safety-first approach essential: SCOR newsletter
June 9, 2017 by Canadian UnderwriterAn agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical…
XL Catlin extends global property insurance capacity
June 8, 2017 by Canadian UnderwriterIncreasing property values and concern over natural catastrophe exposures in the United States and Canada were among the factors mentioned in XL Catlin’s announcement Wednesday it had extended global property insurance capacity by 25% to US$500 million. XL Catlin reports…
Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey
June 6, 2017 by Canadian UnderwriterGreater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review…
PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus
June 6, 2017 by Canadian UnderwriterPERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides…
Intact Insurance launches my Driving Discount program in Alberta
June 5, 2017 by Canadian UnderwriterGood drivers in Alberta will now have access to an Intact Insurance driving discount program that allows them to save as much as 25% on their auto insurance premiums. The my Driving Discount program uses driving data collected by a…
Cyber insurance policies expected to become more similar in next few years: CIFF speaker
May 26, 2017 by Angela StelmakowichA lot more convergence in cyber insurance policies is expected within the next few years as policies, exclusions and wording get tested and case law develops, John Elbl suggested Wednesday during a panel discussion at MSA Research Inc.’s Canadian Insurance…
Technology advances to change insurance value chain, offers chance to reboot
May 19, 2017 by Angela StelmakowichTechnology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new…
PERILS estimates property market loss for Cyclone Debbie at AU$1,116 million
May 9, 2017 by Canadian UnderwriterTropical Cyclone Debbie – the initial loss estimate for which PERILS AG puts at AU$1,116 million – “underpins the need for reliable natural catastrophe insurance data for Australia,” suggests Darryl Pidcock, head of PERILS Asia-Pacific. Debbie affected the Australian states…
Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter
May 8, 2017 by Canadian UnderwriterAuto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was…
Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs
April 20, 2017 by Canadian UnderwriterIntact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated…
Consumers starting to expect zero friction, omni-channel offering key: CIAA event speakers
April 18, 2017 by Angela StelmakowichInsurance is among the services that must offer an omni-channel experience if it expects to address the expectations of consumers as the complexity of their demands shift, Duncan Stewart, director of technology, media and telecommunications research for Deloitte Canada, suggested…
Carriers should more fully explore potential in episodic insurance, CIAA event hears
April 17, 2017 by Angela StelmakowichInsurance carriers need to more seriously consider the potential that exists in episodic insurance and how such an approach could alter offerings, Mukul Ahuja, leader of insurance strategy and innovation at Deloitte Canada, suggested Thursday. “Not nearly enough carriers are…