Canadian Underwriter

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Difficult year for Canada’s p&c insurance industry: IBC’s McGown

April 4, 2017 by Angela Stelmakowich

The Fort McMurray wildfire and other large weather events combined with the lowest return on investment (ROI) in decades to produce a very difficult year for Canada’s p&c insurance industry in 2016, David McGown, senior vice president of strategic initiatives

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Larger liability claims expected to become more expensive, complex: AGCS

March 30, 2017 by Canadian Underwriter

There is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,

News InsuranceTechnology

Older drivers like active safety features, resist autonomous vehicles: Munich Re survey

March 15, 2017 by Canadian Underwriter

A new survey out of the United States exploring the sentiments of older drivers 65 and over shows about half of the respondents would not be comfortable riding in an autonomous vehicle, but they see great value in active safety

News InsuranceMergers and AqcuisitionsTechnology

Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company

March 9, 2017 by Canadian Underwriter

The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying

News CatastrophesClimate ChangeInsuranceReinsuranceTechnology

Reinsurers face challenging market conditions, technology to play important role: Novarica

January 31, 2017 by Canadian Underwriter

Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake

News InsuranceLegislation / RegulationMergers and Aqcuisitions

Insurance industry should consider opening up to loyalty marketing: Aite Group

January 27, 2017 by Canadian Underwriter

Multiple forces are clearing the way for insurers around the world to make cretive use of loyalty marketing techniques like rewards programs that have historically been the domain of credit cards, travel, lodging and retail, suggests a new Aite Group

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

News Climate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Canada’s energy, utilities sectors should beef up climate change competency: report

January 13, 2017 by Canadian Underwriter

Companies in Canada’s most carbon-intensive sectors are not demonstrating “climate competency” in the boardroom and should be doing so to address climate change issues, suggests a report this week by Shareholder Association for Research & Education (SHARE). “Investors are increasingly

News AssociationsCatastrophesClimate ChangeInsuranceTechnology

Strategic planning of Canada’s p&c industry must extend to five, 10 years: Cook

January 11, 2017 by Angela Stelmakowich

Canada’s property and casualty insurance industry must look farther ahead in its strategic planning than it may be used to ensure it fully grasps developing conditions and can address related changes, Philip Cook, CEO of Omega Insurance Holdings Inc., suggested

News CatastrophesEarnings / RatingsInsuranceLegalLegislation / RegulationTechnology

Increased cyber espionage, data integrity attacks part of global threat landscape in 2017: Stroz Friedberg

January 5, 2017 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsuranceTechnology

Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools

December 2, 2016 by Canadian Underwriter

Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing