Anticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country,…
Seven in 10 consumers around the world would welcome robo-advisory services – computer-generated advice and services that are independent of a human advisor – for their insurance, banking and retirement planning, according to a new report by Accenture. The 2017…
XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net…
Technology consultancy X by 2 has expanded its footprint by taking its first-ever step into Canada, a move meant to beef up service to its growing client base in the Canadian insurance market. Focused on the practice of architecture for…
Top cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We…
Catastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition…
Archway Insurance has enhanced its presence in Nova Scotia generally and in Pictou County specifically with the recent acquisition of Stellarton-based D.R. Hayman Insurance. The acquisition, effective Dec. 31, 2016, represents the entry of Archway Insurance – one of Atlantic…
Survey data indicates that more than three in four employees think there are good opportunities in the property and casualty industry, but more than one in four p&c professionals who left their jobs went into a different industry.
Property Claim Services Canada has designated nine catastrophe events in Canada in 2016. Though most of the $4.9 billion insured loss arose from the Alberta wildfires, the data indicates hail and thunderstorms events are becoming more severe.
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…
Message from the president of the Canadian Independent Adjusters’ Association
Fitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through…