Segment
Consumers
Majority of polled Canadians unaware of flood risks and responsibilities, half would not consider purchasing overland flood coverage: survey
May 5, 2017 by Jason ContantHomeowners in Canada lack awareness of flood risk and the protection options available to them to reduce that risk, suggests a new study from researchers at the Interdisciplinary Centre on Climate Change and Partners for Action research network at Ontario’s…
Resiliency, mapping and consumer choice changes recommended for National Flood Insurance Program
May 3, 2017 by Canadian UnderwriterMore focus on resiliency measures, updated mapping techniques and increased consumer choices are among the recommendations for reforms to the National Flood Insurance Program (NFIP) issued by a coalition for “environmentally responsible, fiscally sound approaches to natural catastrophe policy that…
Insurtech funding in Q1 2017 sees 64% drop from Q1 2016 to US$283 million: Willis Towers Watson Securities
May 2, 2017 by Canadian UnderwriterInsurtech funding in the first quarter of this year saw funding volume of US$283 million, a 64% drop from the first quarter of 2016’s total of US$783 million, likely the result of “start-ups moving from fundraising to product launch stage,”…
Fintech sector in Canada not reaching full potential: Competition Bureau of Canada
May 1, 2017 by Canadian UnderwriterThe fintech sector in Canada is not reaching its full potential, in part because of consumer complacency and a lack of trust in new alternatives to the big banks, according to a new summary from the Competition Bureau of Canada.…
Judge orders Volkswagen to pay $2.1B in Canadian class action suit over emissions scandal
April 27, 2017 Aleksandra Sagan - THE CANADIAN PRESSTORONTO – Members of a Canadian class-action lawsuit against Volkswagen can submit claims for reimbursement starting on Friday after an Ontario court approved a $2.1-billion settlement plan. The 105,000 people who purchased or leased certain Volkswagen or Audi vehicles with…
‘Fresh approach’ needed for Ontario auto insurance: IBC CEO
April 25, 2017 Greg Meckbach, Associate EditorA report released two weeks ago is “probably the best description we have to date of what is wrong” with Ontario’s auto insurance system, the chief executive officer of Insurance Bureau of Canada said Tuesday. In opening remarks at IBC’s…
FCA, Google begin offering rides in self-driving cars
April 25, 2017 Dee-Ann Durbin - THE ASSOCIATED PRESSDETROIT – Fiat Chrysler and Google for the first time will offer rides to the public in the self-driving vehicles they are building under an expanding partnership. The companies announced in the spring of last year that they would build…
Justices turn away GM appeal over ignition switches
April 24, 2017 The Associated PressWASHINGTON – The Supreme Court on Monday turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims. The justices without…
BlackBerry expanding channels of distribution via cyber security initiative with Allied World
April 21, 2017 by Canadian UnderwriterOntario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an…
M&A insurance claims rising, 23% of deals over US$1 billion end in a claim: AIG study
April 20, 2017 by Canadian UnderwriterThe frequency of insurance claims related to mergers and acquisitions (M&A) is rising as large deals prove risky and the average payout on the most severe category of claims tops US$20 million, according to a new global study from American…
Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs
April 20, 2017 by Canadian UnderwriterIntact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated…
Dangerous air bags can find their way into used cars, experts say
April 19, 2017 Tom Krisher and Ken Ritter - THE ASSOCIATED PRESSLAS VEGAS – A Nevada crash that nearly killed a young woman has exposed a hole in the government’s efforts to get dangerous Takata air bag inflators off the road: There’s nothing that prevents the devices from being taken from…