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Ontario should adopt ‘multi-provider insurance system’ for new home warranties: Cunningham

April 3, 2017 by Canadian Underwriter

Warranties that new homes in Ontario are free from defects should be available from multiple providers and treated as insurance products, former judge J. Douglas Cunningham recommended in a recent report. Warranty coverage currently available from Tarion Warranty Corp. “should

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

April 1 renewals largely following direction set at January 1 renewals: Willis Re

April 3, 2017 by Canadian Underwriter

The April 1 2017 renewal season “has largely followed” the direction set at January 1, the latest 1st View renewals report from Willis Re said. 2016 generated an “acceptable, though reduced” return for the global reinsurance industry, Willis Re, the

News InsuranceMergers and Aqcuisitions

Intact opens service centre in Montreal, fourth Canadian location

April 3, 2017 by Canadian Underwriter

Intact Financial Corporation (IFC) announced on Monday that it has opened a service centre in Montreal, the insurer’s fourth such centre. Intact Insurance and belairdirect customers in Montreal can now experience a “simpler, faster and more convenient auto claims process,”

News InsuranceLegalMergers and AqcuisitionsTechnology

McDonald’s Canada says info of 95,000 job applicants compromised

April 3, 2017 The Canadian Press

TORONTO – McDonald’s Canada says the jobs section of its website has been hacked, compromising the personal information of about 95,000 applicants over the last three years. The company said Friday the accessed information included names, addresses, phone numbers, employment

News AssociationsInsuranceMergers and Aqcuisitions

Strong investment gains even out results for Ontario mutual insurers

April 3, 2017 by Angela Stelmakowich

Financial results for Ontario mutual insurers in 2016 were better than expected, with 2016 marking the eighth consecutive year of overall profitability and seventh year in a row of underwriting profit. The aggregate results for Guarantee Fund Mutuals in 2016

Feature Associations

Direct Hit

April 1, 2017 Angela Stelmakowich, Editor

What was it about Lola? Girls will be boys; boys will be girls? All good. For Canada’s property and casualty insurance industry, as surely is the case elsewhere, it is a mixed up, muddled up, shook up world as well.

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Worldwide spending on security technology expected to reach US$81.7 billion in 2017: International Data Corporation

March 31, 2017 by Canadian Underwriter

Worldwide spending on security technology is forecast to reach US$81.7 billion this year, according to a recently released guide from International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and

News AssociationsCatastrophesClimate ChangeInsurance

Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor

March 31, 2017 by Angela Stelmakowich

There are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Office of the Privacy Commissioner of Canada to fund project on connected cars code of practice

March 30, 2017 by Canadian Underwriter

The Office of the Privacy Commissioner of Canada will soon be funding an arms-length project to develop a code of practice for connected cars, weighing a balance between information flow and privacy protection. “The benefits available to Canadians through the

News InsuranceMarkets / CoveragesProductsTechnology

Silicon Valley Insurance Accelerator launches insurtech innovation lab

March 30, 2017 by Canadian Underwriter

Silicon Valley Insurance Accelerator (SVIA) announced on Thursday the launch of its InsurTech Innovation Lab, which can “fast track projects from simple proof of concepts to standing up complete solutions, products and even companies.” The research, design and development centre

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Ford recalls 570K vehicles in North America and Europe for fire risk, door latch trouble

March 29, 2017 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – Ford is recalling more than 570,000 vehicles in North America and Europe to fix separate problems that can cause engine fires and doors to fly open unexpectedly. The recalls will hit the company’s bottom line in the first

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProducts

Insurance Brokers Association of Ontario continues ‘to have multiple discussions with Aviva:’ Simpson

March 28, 2017 Greg Meckbach, Associate Editor

Two months after the Insurance Brokers Association of Ontario announced it would no longer invite Aviva Canada Inc. to participate in IBAO’s sponsorship program, the association continues to hold talks with Aviva, IBAO’s chief executive officer said Tuesday. “We continue