Segment
Consumers
Analytics single greatest disruptor to Canadian insurance industry: survey
April 4, 2017 by Canadian UnderwriterAnalytics is the single greatest disruptor to the Canadian insurance industry today, according to 65% of executives polled for a recent survey by Insurance Nexus, a division of FC Business Intelligence. Insurance Nexus reported on Tuesday that it recently surveyed…
FM Global launches worldwide flood map for commercial properties
April 4, 2017 by Canadian UnderwriterCommercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new…
83% of U.S. carriers believe leveraging smart home and IoT technology will attract new customers, improve customer relationships: study
April 4, 2017 by Canadian UnderwriterMore than 80% of homeowners insurance carriers in the United States believe that smart home and Internet of Things (IoT) technology will attract new property and casualty customers and improve customer relationships, according to a new report from NTT DATA.…
Ontario should adopt ‘multi-provider insurance system’ for new home warranties: Cunningham
April 3, 2017 by Canadian UnderwriterWarranties 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…
April 1 renewals largely following direction set at January 1 renewals: Willis Re
April 3, 2017 by Canadian UnderwriterThe 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…
Intact opens service centre in Montreal, fourth Canadian location
April 3, 2017 by Canadian UnderwriterIntact 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,”…
McDonald’s Canada says info of 95,000 job applicants compromised
April 3, 2017 The Canadian PressTORONTO – 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…
Strong investment gains even out results for Ontario mutual insurers
April 3, 2017 by Angela StelmakowichFinancial 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…
Direct Hit
April 1, 2017 Angela Stelmakowich, EditorWhat 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.…
Worldwide spending on security technology expected to reach US$81.7 billion in 2017: International Data Corporation
March 31, 2017 by Canadian UnderwriterWorldwide 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…
Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor
March 31, 2017 by Angela StelmakowichThere 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…
Office of the Privacy Commissioner of Canada to fund project on connected cars code of practice
March 30, 2017 by Canadian UnderwriterThe 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…