Segment
Consumers
How legalizing pot will affect your insurance policies
June 5, 2017 Jason Contant, Online EditorThe 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…
Intact Insurance launches my Driving Discount program in Alberta
June 5, 2017 by Canadian UnderwriterGood 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…
Two-thirds of defective Takata airbags still not repaired, U.S. senator reports
June 5, 2017 by Canadian UnderwriterApproximately 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…
Intel predicts autonomous driving will spur new ‘passenger economy’ worth US$7 trillion by 2050
June 2, 2017 by Canadian UnderwriterTechnology 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.”…
Canadian auto sales set record in May, gain 11.2% compared with a year ago
June 2, 2017 The Canadian PressRICHMOND 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,…
Forecast thunderstorms add to flooding concerns across southern B.C.
May 31, 2017 The Canadian PressVANCOUVER – 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…
Willis Towers Watson and Roost to establish home telematics consortium of 5-10 U.S. carriers
May 31, 2017 by Canadian UnderwriterWillis 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…
Criminal data breaches forecast to cost global business $8 trillion in next five years: Juniper
May 30, 2017 by Canadian UnderwriterHigher 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…
Boyd Group Income Fund to acquire collision repair company Assured Automotive for $193.6 million
May 30, 2017 by Canadian UnderwriterBoyd 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…
Modernization of payment systems long overdue amid rapid changes: Bank of Canada official
May 26, 2017 Andy Blatchford - THE CANADIAN PRESSThe 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…
Relying on government to solve “big shake” problem courts continued procrastination: Tannas
May 25, 2017 by Angela StelmakowichThe potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”…
More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert
May 24, 2017 by Canadian UnderwriterThe greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering…