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Hurricanes expected to deliver 1.4 billion euro hit to Munich Re in third quarter, total tally estimated at 2.7 billion euros

October 26, 2017 by Canadian Underwriter

Exceptional major-loss expenditure related to hurricanes Harvey, Irma and Maria (HIM) are expected to result in Munich Re posting a loss of 1.4 billion euros in 2017 Q3, reducing the (re)insurer’s previously anticipated full-year profit. Emphasizing that current estimates “are

News AnnouncementsInsuranceTechnology

JLT Canada, Certisync look to overhaul tenant insurance processes, maximize portfolio insurance strategies.

October 25, 2017 by Canadian Underwriter

Jardine Lloyd Thompson Canada Inc. and Certisync International have teamed up as part of a joint venture to help property managers and administrators in Canada and revolutionize how the industry regulates tenant insurance processes. Aimed at giving property managers greater

News InsuranceMarkets / CoveragesTechnology

Burns & Wilcox Canada, Node International enter exclusive agreement for cyber liability insurance

October 24, 2017 by Canadian Underwriter

Burns & Wilcox Canada has entered into an exclusive agreement with Node International to distribute comprehensive cyber liability insurance, a move the former characterizes as “fusing cyber security tactics and insurance like never before.” The agreement means the managing general

News AssociationsCatastrophesInsurance

Understanding of quake protective measures, insurance coverage faulty in Quebec: survey

October 19, 2017 by Canadian Underwriter

The lion’s share of polled Quebecers remain unprepared for an earthquake, with a mere 8% of respondents understanding the immediate protective measures that should be taken in the event of a quake, Insurance Bureau of Canada (IBC) reports. The concerning

News AnnouncementsInsuranceProductsTechnology

Aite Group introduces vendor evaluation framework, p&c insurance transforming

October 18, 2017 by Angela Stelmakowich

Aite Group has introduced a proprietary vendor evaluation framework that the global research and advisory firm reports will serve as an actionable guide for market participants looking for viable third-party vendor solutions and services. “I think the biggest problem for

News AnnouncementsClaimsInsuranceProducts

Frank Cowan Company offering new suite of products for terrorism coverage

October 17, 2017 by Canadian Underwriter

Now available from Frank Cowan Company is a new suite of products designed to help municipalities and public services organizations address the terrorism risk they face and transfer some of that risk via the insurance product. Partnering with XL Catlin

News AnnouncementsAppointmentsInsuranceMergers and AqcuisitionsTechnology

Octo Telematics to acquire Willis Towers Watson’s UBI assets; firms to partner on insurance-related products

October 12, 2017 by Canadian Underwriter

Octo Telematics and Willis Towers Watson (WTW) have reached an agreement in which the former will acquire the latter’s usage-based insurance (UBI) assets, setting the stage for the two companies to work together on more auto telematics opportunities. Leveraging Octo’s

News InsuranceMarkets / CoveragesTechnology

Insurtech triggering transformation in personal lines: SMA

October 4, 2017 by Canadian Underwriter

New research out of the United States assessing 600 start-ups identified as relevant for personal lines insurers indicates these new players may fail, but they are having a tangible impact on the p&c insurance industry and how it delivers services,

News ClaimsInsuranceTechnology

Aviva Canada beefs up identity theft offering to protect customers

October 3, 2017 by Canadian Underwriter

Aviva Canada is marking the beginning of Cyber Security Awareness Month (October) with the announcement that it is introducing enhancements to its identity theft coverage at no additional cost to existing customers. The coverage features widespread financial protection if a

News InsuranceProductsTechnology

Turo launches car-sharing marketplace in B.C., partners with car rental entrepreneurs

October 3, 2017 by Canadian Underwriter

Turo, which connects local car owners with travellers looking for adventure and in need of a vehicle, has expanded its car-sharing marketplace into British Columbia. To address provincial insurance regulations, the company has structured the expansion by partnering with local,

News ClaimsInsuranceMarkets / CoveragesTechnology

Cyber attacks among polled U.S. business costing at least US$5,000

October 2, 2017 by Canadian Underwriter

Seven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of

News ClaimsInsuranceReinsuranceTechnology

Willis Re supports B3i blockchain insurance industry initiative

October 2, 2017 by Canadian Underwriter

Willis Re is supporting the B3i initiative – the global blockchain effort launched last fall – by becoming a member and taking part in its prototype market testing phase. The announcement follows the successful launch of a working market testing