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CatIQ enters into agreement with Impact Forecasting to use cat event flood response footprints for Canada
August 11, 2017 Jason Contant, Online EditorToronto-based Catastrophe Indices and Quantification Inc. (CatIQ) announced that they have entered into an agreement whereby Impact Forecasting’s cat event response flood footprints for Canada will be made available as a layer on CatIQ’s CatHUB module. “Aon Impact Forecasting’s Canadian…
Echelon’s combined ratio improves 4.2 points to 93.5% in Q2, driven by personal auto and commercial property and liability
August 10, 2017 by Canadian UnderwriterToronto-based Echelon Financial Holdings Inc. has reported a combined operating ratio of 93.5% for the second quarter of 2017 ending June 30, a 4.2 point improvement from 97.7% in Q2 2016, driven by strong results in personal auto and commercial…
Economical launches data breach coverage for Canadian businesses
August 2, 2017 by Canadian UnderwriterWaterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of…
Global software company Symbility Solutions partners with Toronto’s DeepLearni.ng to bring AI to property insurance
August 2, 2017 by Canadian UnderwriterGlobal software company Symbility Solutions Inc. announced on Wednesday that it has entered into a new partnership with Toronto-based DeepLearni.ng to bring artificial intelligence (AI) solutions into property insurance. Symbility said in a press release that “by closely collaborating with…
Cyber work diagnostic tool to help foster a cyber-savvy workforce by making people the focus: Willis Towers Watson
July 21, 2017 by Canadian UnderwriterWillis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an…
Applying blockchain technology could slash US$40 billion in costs for financial services: BIS Research
July 17, 2017 by Canadian UnderwriterImplementing blockchain technology could produce hefty cost savings in the billions of dollars annually for the financial services market, suggests a new report released Friday by Minnesota-based BIS Research. Characterizing blockchain as a revolutionary development, its application “could lead to…
North America world’s most advanced smart home market: Berg Insight
July 14, 2017 by Canadian UnderwriterNorth America is the world’s most advanced smart home market, with an installed base of 21.8 million smart homes at the end of 2016 – a 47% year-on-year growth, according to machine-to-machine (M2M) and Internet of Things (IoT) analyst firm…
Vancouver mobile app development company launches pilot program to protect Canadians from distracted driving
July 12, 2017 by Canadian UnderwritereBrake Technologies Inc., a mobile app development company founded in Vancouver in June 2016, announced on Wednesday a pilot program that will offer a smartphone app designed to prevent distracted driving. The pilot program will offer smartphone app eBrake to…
Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re
July 11, 2017 by Angela StelmakowichRisk 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…
The Commonwell Mutual Insurance Group launches new policy to protect clients against “home sharing rentals gone wrong”
July 10, 2017 by Canadian UnderwriterLindsay, Ont.-based The Commonwell Mutual Insurance Group, a home and auto insurance company, announced on Monday the launch of a new policy designed to protect clients against “home sharing rentals gone wrong” on popular sites like Airbnb, FlipKey and HomeAway.…
Government of Newfoundland and Labrador conducting comprehensive review of auto insurance system
July 5, 2017 by Canadian UnderwriterThe Government of Newfoundland and Labrador has announced the start of a comprehensive review of the auto insurance system in the province. Perry Trimper, Minister of Service NL, announced the review in a statement on Tuesday. As part of the…
Specialist Lloyd’s broker now providing regional Canadian brokers with direct access to London liability insurance market
June 29, 2017 by Canadian UnderwriterServca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard…