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News AssociationsInsuranceTechnology

Consumers starting to expect zero friction, omni-channel offering key: CIAA event speakers

April 18, 2017 by Angela Stelmakowich

Insurance is among the services that must offer an omni-channel experience if it expects to address the expectations of consumers as the complexity of their demands shift, Duncan Stewart, director of technology, media and telecommunications research for Deloitte Canada, suggested

News AssociationsInsuranceMergers and AqcuisitionsTechnology

Carriers should more fully explore potential in episodic insurance, CIAA event hears

April 17, 2017 by Angela Stelmakowich

Insurance carriers need to more seriously consider the potential that exists in episodic insurance and how such an approach could alter offerings, Mukul Ahuja, leader of insurance strategy and innovation at Deloitte Canada, suggested Thursday. “Not nearly enough carriers are

News AssociationsInsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles coming, but auto books will not disappear any time soon: CIAA event speaker

April 17, 2017 by Angela Stelmakowich

Autonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

161 companies have exited Canadian P&C market in past 20 years, 96% voluntarily: PACICC

April 13, 2017 Jason Contant, Online Editor

Over the past 20 years, 161 different insurance companies have exited the Canadian P&C market, 96% of which were voluntary exits, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC). The report, the 11th in

News InsuranceLegislation / RegulationMergers and Aqcuisitions

Ontario should create ‘list of documents that must be produced’ in personal injury auto lawsuits: Marshall

April 13, 2017 by Canadian Underwriter

The Ontario government should consider allowing auto insurers to offer consumers more choices and come up with new rules for the tort system bearing in mind that personal injury auto lawsuits “seldom involve complex issues of law,” a special adviser

News Earnings / RatingsInsurance

Central bank says no rate cut considered amid stronger growth, but notes risks

April 13, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada said an interest rate cut was not on the table during the central bank’s latest policy decision, but also warned of persistent risks that suggest it will not hike any time

News InsuranceLegislation / RegulationMergers and Aqcuisitions

New Ontario financial authority should monitor auto insurers with ‘unusual number’ of LAT appeals: Marshall

April 12, 2017 by Canadian Underwriter

Neither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a

News AssociationsCatastrophesClimate ChangeConstructionInsuranceMergers and AqcuisitionsReinsurance

Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers

April 12, 2017 by Canadian Underwriter

The Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as

News InsuranceLegislation / Regulation

Ontario home inspector licensing bill ready for royal assent

April 11, 2017 by Canadian Underwriter

Ontario politicians voted unanimously Monday in favour of a bill that will mandate licensing of home inspectors in the province and will let the government and consumer services minister regulate insurance requirements. Bill 59, an omnibus bill that also introduces

News InsuranceMergers and AqcuisitionsProductsTechnology

Willis Towers Watson launches new cyber product for global airlines

April 11, 2017 by Canadian Underwriter

Global advisory, broking and solutions company Willis Towers Watson (WTW) announced on Tuesday that it has introduced a new “flexible insurance solution” specifically tailored to cover cyber exposure affecting the global airline industry. CyFly forms part of WTW’s integrated approach

News InsuranceMergers and Aqcuisitions

Home purchase plans down overall, Millennials most optimistic group: RBC

April 11, 2017 by Canadian Underwriter

A quarter of those taking part in a new RBC Royal Bank poll seem to be taking a “wait-and-see” approach to buying a home within the next two years, but the dip from 2016 is buoyed by Millennials more willing

News InsuranceMergers and AqcuisitionsTechnology

Saskatchewan Mutual Insurance Company goes live with eDocs, obtaining CSIO certification for personal and commercial lines

April 10, 2017 by Canadian Underwriter

Hubio, a provider of technology solutions for P&C insurers, announced on Monday that Saskatchewan Mutual Insurance Company (SMI) has obtained certification from the Centre for Study of Insurance Operations (CSIO) for both personal and commercial lines eDocs. SMI is now