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News AssociationsInsuranceReinsurance

“Nearly all” U.K. drivers paying record amounts for car insurance: Association of British Insurers

July 10, 2017 by Canadian Underwriter

Drivers in nearly all age groups in the United Kingdom are paying record amounts for their car insurance and could face further increases unless the government takes action to reduce claims costs, the Association of British Insurers (ABI) warned recently.

News Climate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Every Volvo vehicle launched from 2019 will have an electric motor, company says

July 7, 2017 by Canadian Underwriter

Volvo Cars announced earlier this week that every Volvo it launches from 2019 will have an electric motor, “marking the historic end of cars that only have an internal combustion engine (ICE) and placing electrification at the core of its

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Canadians evacuated from homes after a wildfire can expect to suffer $11,300 in financial losses: Square One Insurance

July 6, 2017 by Canadian Underwriter

Canadians evacuated from their homes because of wildfires can expect to suffer an average of $11,300 in financial losses, a recent study from Square One Insurance Services Inc. has found. Those with home insurance can recover most, but not all,

News AssociationsCatastrophesClimate ChangeMergers and AqcuisitionsReinsurance

Intact Financial Corporation announces $105 million Cat loss for 2017 Q2

July 6, 2017 by Canadian Underwriter

Intact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsProducts

Government of Newfoundland and Labrador conducting comprehensive review of auto insurance system

July 5, 2017 by Canadian Underwriter

The 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

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Brokers taking the initiative to embrace digital transformation: Insurance Analytics Canada speaker

July 4, 2017 Jason Contant, Online Editor

Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based

News InsuranceMergers and AqcuisitionsTechnology

Multi-factor authentication central to helping reduce data breaches: Ostertag

July 4, 2017 by Angela Stelmakowich

Taking a multi-layered approach to cyber security – including authentication – is likely the most important single thing to help combat access that then results in data breaches, David Ostertag, global investigation manager for Verizon’s investigative response unit, advised last

News InsuranceMergers and AqcuisitionsTechnology

Cyber-related disruption as business advantage developing in manufacturing sector: Verizon

June 30, 2017 by Angela Stelmakowich

Manufacturing is witnessing a significant hike in internal cyber threat actors linked to nation state schemes to disrupt operations and allow chosen businesses to gain competitive advantage and market share, David Ostertag, global investigation manager for Verizon’s investigative response unit,

News InsuranceMergers and AqcuisitionsTechnology

Customers in driver’s seat, geared up for experimenting with insurance offerings: webinar

June 29, 2017 by Angela Stelmakowich

Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for

News InsuranceMarkets / CoveragesProductsTechnology

Mobile telematics data can offer rich insights into distracted driving and impact loss trends, Insurance Analytics Canada speaker suggests

June 28, 2017 Jason Contant, Online Editor

Mobile telematics data, while sometimes providing “noisy,” or meaningless information, can also offer rich insights on distracted driving that could impact loss trends, a speaker suggested on Wednesday at the third annual Insurance Analytics Canada Summit in Toronto. Ted Gramer,

News InsuranceTechnology

Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One

June 28, 2017 Disruption

There appears to be a divide between middle-market companies fully expecting that disruption will unfold and taking concrete steps to address whatever risk that change may bring, suggest findings of a new study from New York-based Capital One Commercial Bank.

News AssociationsCatastrophesInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Canadian Council of Insurance Regulators releases 2017-2020 strategic plan

June 28, 2017 by Canadian Underwriter

The Canadian Council of Insurance Regulators (CCIR) has published its strategic plan for 2017-2020, which focuses its efforts on cooperative supervisory activities, fair treatment of consumers, risks and coverages related to nat cats, and a cooperative approach to financial services