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Cat claims out West create stress for home insurers, proactive communications can bolster customer satisfaction: J.D. Power

June 6, 2017 by Canadian Underwriter

A spike in major claims resulting in record losses from catastrophic disasters across Canada over the last few years has created significant challenges for insurance carriers in 2017, a situation that has had an impact on customer satisfaction with the

News InsuranceMergers and AqcuisitionsProductsTechnology

New State Farm Canada app includes telematics and water detection programs, account access

June 5, 2017 by Canadian Underwriter

State Farm Canada announced on Monday that it has released a new app that includes telematics and water detection programs, as well as easy account access. The free State Farm Canada App, available on Apple’s App Store and Google Play,

News InsuranceLegalLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

How legalizing pot will affect your insurance policies

June 5, 2017 Jason Contant, Online Editor

The impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Intact Insurance launches my Driving Discount program in Alberta

June 5, 2017 by Canadian Underwriter

Good drivers in Alberta will now have access to an Intact Insurance driving discount program that allows them to save as much as 25% on their auto insurance premiums. The my Driving Discount program uses driving data collected by a

News InsuranceLegalMergers and Aqcuisitions

Two-thirds of defective Takata airbags still not repaired, U.S. senator reports

June 5, 2017 by Canadian Underwriter

Approximately two-thirds of recalled inflators involved in the Takata recall in the United States have not yet been repaired, U.S. Sen. Bill Nelson (D-FL) reported late last week. “The numbers provided to Nelson by the independent monitor appointed to oversee

News InsuranceMarkets / CoveragesTechnology

Intel predicts autonomous driving will spur new ‘passenger economy’ worth US$7 trillion by 2050

June 2, 2017 by Canadian Underwriter

Technology company Intel Corporation is predicting that autonomous driving will cause a new “passenger economy” to emerge to support the idle time when drivers become riders, an economy that will be more than twice the size of the “sharing economy.”

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Canadian auto sales set record in May, gain 11.2% compared with a year ago

June 2, 2017 The Canadian Press

RICHMOND HILL, Ont. – DesRosiers Automotive Consultants says Canadian auto sales set a monthly record in May, gaining 11.2 per cent year-over-year. The consulting firm says vehicle sales for the month totalled 216,861 including 75,172 cars and 141,689 light trucks,

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Forecast thunderstorms add to flooding concerns across southern B.C.

May 31, 2017 The Canadian Press

VANCOUVER – Residents in several areas of British Columbia are bracing for severe thunderstorms as another round of wicked weather bears down on flood-weary regions. Environment Canada has issued severe thunderstorm watches for areas including the Shuswap and Okanagan east

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Willis Towers Watson and Roost to establish home telematics consortium of 5-10 U.S. carriers

May 31, 2017 by Canadian Underwriter

Willis Towers Watson (WTW) announced on Wednesday that it has entered into an agreement with Roost, an innovator in smart home technology, to establish a “home telematics consortium” of five to 10 insurance carriers. WTW, the global advisory, broking and

News CatastrophesInsuranceTechnology

Criminal data breaches forecast to cost global business $8 trillion in next five years: Juniper

May 30, 2017 by Canadian Underwriter

Higher levels of Internet connectivity and inadequate enterprise-wide security are expected to pave the way for criminal data breaches costing businesses around the world about $8 trillion over the next five years, suggests U.K.-based Juniper Research. Research released Tuesday indicates

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Boyd Group Income Fund to acquire collision repair company Assured Automotive for $193.6 million

May 30, 2017 by Canadian Underwriter

Boyd Group Income Fund (BGIF) is looking to cement the Boyd Group’s position as a leading provider of collision repair services in Canada with the announcement it has entered into a definitive agreement to acquire the assets and business of

News InsuranceMarkets / CoveragesTechnology

Modernization of payment systems long overdue amid rapid changes: Bank of Canada official

May 26, 2017 Andy Blatchford - THE CANADIAN PRESS

The country’s payments infrastructure is long overdue for an update to ensure financial system stability amid the rapid advance of new technologies and the risks that accompany them, a senior Bank of Canada official said Thursday. Deputy bank governor Sylvain