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Collaboration leads to milestone achievement to define data exchange standards between companies, brokers

August 23, 2017 by Canadian Underwriter

The long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation

August 14, 2017 by Canadian Underwriter

Insurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

TechCanary makes available enhanced insurance platform for Canadian market

July 26, 2017 by Canadian Underwriter

U.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers. TechCanary

News CatastrophesConstructionEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsProductsReinsuranceTechnology

Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re

July 11, 2017 by Angela Stelmakowich

Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the

News InsuranceMergers and AqcuisitionsTechnology

Customers in driver’s seat, geared up for experimenting with insurance offerings: webinar

June 29, 2017 by Angela Stelmakowich

Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for

News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Allianz Risk Transfer, Nephila Capital successfully pilot blockchain for Cat swap

June 14, 2017 by Canadian Underwriter

Allianz Risk Transfer AG (ART) and Nephila Capital Limited report successfully piloting the use of blockchain smart contract technology for transacting a natural catastrophe swap, an approach they suggest offers benefits for this and other types of insurance transactions. The

News AssociationsCatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

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Opta Information Intelligence launches iClarify Farm Solution for Canadian insurance marketplace

April 19, 2017 by Canadian Underwriter

Opta Information Intelligence has announced the expansion of its suite of services to the Canadian property and casualty (P&C) insurance industry with the launch of iClarify Farm Solution. Markham, Ont.-headquartered Opta, creator of iClarify and Peril Score analytic solutions, announced

News AssociationsInsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles coming, but auto books will not disappear any time soon: CIAA event speaker

April 17, 2017 by Angela Stelmakowich

Autonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian

News InsuranceMergers and Aqcuisitions

Insurance-related M&A activity explodes, insurance company moves in Canada high: OPTIS Partners

April 13, 2017 by Canadian Underwriter

OPTIS Partners has likened recent mergers and acquisitions (M&A) activity among U.S. and Canadian agencies selling p&c insurance and employee benefits to an explosion, with the 178 reported transactions in 2017 Q1 dwarfing the 115 deals in the prior-year quarter.

News CatastrophesInsuranceMergers and AqcuisitionsProductsReinsuranceTechnology

RMS releases new class of cyber-physical risk modelling for property insurers

April 6, 2017 by Canadian Underwriter

RMS has expanded its range of cyber models to include a new class of so-called cyber-physical models in a bid to answer the increasing related risk of insurance losses from hackers targeting control systems linked to the Internet. These cyber-physical

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

Risk management overhaul necessary for cities to become more resilient to catastrophic events: report

March 27, 2017 by Canadian Underwriter

Officials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a