Canada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,…
Expect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the…
Canadian Insurance Services Regulatory Organizations (CISRO) will soon be engaging Canada’s national MGA association to find out the emerging risks for the sector, the regulator said during a recent industry event. “Later this year, CISRO will be engaging CAMGA [Canadian…
Risk managers globally are scrambling to respond to a number of financial risks related to the pandemic and the related economic meltdown, making credit risk one of their chief concerns for 2021, as reported in a new study by Deloitte. But…
There is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers…
London-based CFC Underwriting is looking to beef up protection against the emerging risks that technology companies around the world face with the launch of a revamped insurance proposition. “The risks faced by tech businesses are changing as rapidly as technology…
Guidewire Software, Inc.’s planned acquisition of Cyence Inc. will ensure Guidewire clients can access a cloud-based data listening and risk analytics solution to help them manage emerging risks for which long claims histories may not be available. California-based Guidewire Software,…
Blockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in…
Reduced market access, regulatory fragmentation, the return of inflation, cloud risk accumulation and emerging liability legislation for artificial intelligence are just some of the key risks for the re/insurance industry, according to Swiss Re’s 2017 SONAR report. The report, released…
Greater 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…
Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,…
The insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the…