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United Kingdom
Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank
January 17, 2017 by Canadian UnderwriterThe global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent…
Canada becoming less attractive option for investors: Cook
January 11, 2017 by Angela StelmakowichAnticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country,…
One in three cyberattacks in the past year resulted in a security breach for Canadian companies, new Accenture survey finds
January 11, 2017 by Canadian UnderwriterRoughly one in three targeted cyberattacks over the past year resulted in an actual security breach for Canadian companies, according to a new survey from global professional services company Accenture. Despite these breaches – which equate to three effective attacks…
U.K. 2015/2016 floods one of the century’s “most extreme and severe” flood episodes
December 6, 2016 by Canadian UnderwriterThe winter floods of 2015 and 2016 in the United Kingdom were one of the “most extreme and severe hydrological events of the last century,” a new scientific review has confirmed. The hydrological appraisal, titled The winter floods of 2015/2016…
Losses from Desmond floods in U.K. estimated at £604 million: PERILS
December 5, 2016 by Canadian UnderwriterThe fourth and final insured property market loss estimate flowing from U.K. flooding in the wake of storm Desmond in late 2015 is £604 million, reports PERILS AG. Desmond and other low-pressure systems caused effects over a three-week period from…
Unexpected threats should be a concern to SMEs in U.K.: RSA
December 2, 2016 by Canadian UnderwriterMore than a quarter of polled small and medium-sized enterprises (SMEs) in the United Kingdom reported being hit with an unexpected £50,000 bill would put them out of business, notes a new report released this week by RSA. And while…
Insurers that carry out a significant acquisition outperform their peers, with the strongest outperformance in North America: study
December 1, 2016 by Canadian UnderwriterInsurance firms that carry out a significant acquisition outperform their peers, with the strongest outperformance seen in North America, followed by Europe and Asia-Pacific, according to a new study. Based on analysis from Willis Towers Watson (WTW) and the University…
Insurance rates decrease continued to moderate for third quarter in a row: Marsh
November 11, 2016 by Canadian UnderwriterThe 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…
Calgary-based InsureMy partners with U.K. telematics provider to distribute new driver program to Canadian drivers
November 2, 2016 by Canadian UnderwriterCalgary-based brokerage InsureMy Ltd. and United Kingdom-based telematics provider Trak Global Group announced on Wednesday a partnership through an exclusive licensing agreement enabling InsureMy to “distribute products from the Trak/Carrot [Insurance] brand to maximize distribution points throughout Canada.” Trak Global…
CNA Financial posts net income of US$343 million in 2016 Q3
November 1, 2016 by Canadian UnderwriterCNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for…
Canada fourth largest cyber security hub in world, Ontario has potential to assume leading role
October 19, 2016 by Canadian UnderwriterMore investment and co-ordination is needed if Ontario – which offers strengths in financial services and technology – is to realize its potential to assume a more dominant leadership role in cyber security, notes a new report issued Thursday. Commissioned…
Adoption of smart contracts to decrease risks and costs, increase efficiencies: Capgemini
October 11, 2016 by Angela StelmakowichLower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…