Segment
Consumers
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 EditorMobile 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,…
Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One
June 28, 2017 DisruptionThere 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.…
Canadian Council of Insurance Regulators releases 2017-2020 strategic plan
June 28, 2017 by Canadian UnderwriterThe 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…
MSA calls for ‘sustainable solution for underinsurance’ in overland flood
June 27, 2017 by Canadian UnderwriterA potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In…
Canadians “greatly overestimate” their financial literacy skills, including those related to auto insurance: survey
June 27, 2017 by Canadian UnderwriterMore than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a…
New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution
June 27, 2017 by Canadian UnderwriterNew Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify…
AIR Worldwide releases probabilistic crop hail model for Canada
June 26, 2017 by Canadian UnderwriterAIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available…
Companies plan to spend more on cloud computing services this year, higher prices among drivers: Clutch
June 23, 2017 by Canadian UnderwriterCompanies are planning to spend more on cloud computing services in 2017, but must be cognizant that anticipated costs could balloon absent appropriate monitoring and use, suggest survey results released this week by Clutch. Reflecting input from 283 IT professionals…
Gains, losses in efforts to combat cyber crime in 2016: Trustwave
June 20, 2017 by Canadian UnderwriterThe fight against cyber crime showed both advances and retreats in 2016, with improvements on the intrusion detection and breach containment fronts matched by cyber crime increasingly being treated as a business, suggests a Trustwave report released Tuesday. Findings in…
Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year
June 19, 2017 by Canadian UnderwriterManitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities…
IBAO & Intact partner to deliver information to customers electronically
June 16, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) and Intact Insurance Company announced on Friday that they have created a working group to explore ways for brokers to integrate Intact’s new online Client Centre with their existing systems. This newly-formed group…
Multiple access points for single customer to obtain electronic communications could be detrimental to Ontario consumer: IBAO
June 16, 2017 by Canadian UnderwriterCreating multiple access points for a single consumer to obtain electronic communications, including e-documents, could be detrimental to the Ontario consumer, the Insurance Brokers Association of Ontario (IBAO) argued in a position paper released on Thursday. IBAO released the paper,…