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renewal

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Montreal-based insurtech startup Covera raises $1.5 million

October 19, 2017 by Canadian Underwriter

Covera Technologies Inc., a Montreal-based insurtech startup that uses technology to find its customers “optimal insurance rates every year,” has raised $1 million as part of its seed financing round led by Ferst Capital Partners, with participation from fintech “angel

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Allstate Canada expands UBI program Drivewise into Nova Scotia after “great success” in Alberta and Ontario

August 15, 2017 by Canadian Underwriter

The Allstate Insurance Company of Canada announced on Monday that it is expanding its usage-based insurance (UBI) program Drivewise in Nova Scotia “after experiencing great success in the provinces of Alberta and Ontario.” Drivewise rewards those who exhibit safe driving

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Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year

June 19, 2017 by Canadian Underwriter

Manitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities

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Non-approved Ontario auto forms do not always render insurance contracts void: Court of Appeal

May 10, 2017 by Canadian Underwriter

If an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On

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Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that

News InsuranceMarkets / CoveragesProfessional DevelopmentReinsurance

Ontario Municipal Insurance Exchange (OMEX) suspends underwriting operations

August 11, 2016 by Canadian Underwriter

The Ontario Municipal Insurance Exchange (OMEX) announced on Thursday that it will suspend Reciprocal underwriting operations effective immediately “to allow it time to fully assess the needs of Ontario municipalities with a view to redesigning its products to better service

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Cyber insurance process becoming more rigorous for certain industry sectors, cyber risk conference hears

April 4, 2016 Jason Contant, Online Editor

The process to obtain cyber insurance may be more rigorous than it has been just a few years ago, even if it is a renewal, a speaker suggested last week at the 2016 International Cyber Risk Management Conference (ICRMC) in