Canadian Underwriter

Keyword
modernization

News ClaimsInsuranceTechnology

Standards now exist for same-day insurance claims payments

February 15, 2018 by Jason Contant

Imagine when same-day insurance claims payments are a reality, without the need to overhaul any existing infrastructure. That could become a reality sooner than you think. ISO 20022, an international payments messaging standard that supports electronic payments, is already in

News InsuranceLegislation / RegulationMergers and AqcuisitionsProducts

Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review

August 16, 2017 by Canadian Underwriter

The provincial government announced on Tuesday that it has finalized the terms of reference for the automobile insurance review for Service NL and the provincial Board of Commissioners of Public Utilities (PUB). Government has directed PUB to begin its review

News InsuranceMarkets / CoveragesTechnology

Modernization of payment systems long overdue amid rapid changes: Bank of Canada official

May 26, 2017 Andy Blatchford - THE CANADIAN PRESS

The country’s payments infrastructure is long overdue for an update to ensure financial system stability amid the rapid advance of new technologies and the risks that accompany them, a senior Bank of Canada official said Thursday. Deputy bank governor Sylvain

News InsuranceTechnology

Shared Services Canada launches consultations on plan to modernize federal IT services

September 20, 2016 by Canadian Underwriter

The Government of Canada announced on Tuesday that it is launching consultations on “modernizing the digital services it provides to Canadians through secure and reliable information technology.” Judy M. Foote, the Minister of Public Services and Procurement, announced in a

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional Development

ICBC asks for 4.9% increase to basic insurance rates, lower than last year’s 5.5% increase

August 26, 2016 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) announced on Thursday that it will submit its 2016 basic rate application to the British Columbia Utilities Commission, asking for a 4.9% increase to basic insurance rates – lower than last year’s 5.5%