Intact reports 0.9 percentage point drop in combined ratio in first quarter of 2016
May 4, 2016 by Canadian UnderwriterIntact Financial Corporation (IFC) has reported a 0.9 percentage point drop in its combined ratio for the first quarter of 2016 compared to the same quarter in 2015, led by property lines and improving personal auto results. Toronto-headquartered IFC, the…
Alberta, TransAlta reach agreement to protect Calgary and other Bow River communities from flood and drought
April 28, 2016 by Canadian UnderwriterThe province of Alberta has entered into a five-year agreement with power generation and wholesale marketing company TransAlta that will provide flood protection to Calgary, reduce the impacts of drought and help communities adapt to a changing climate. The five-year…
RMS launches app to model ‘cat-in-a-box’ deals
April 7, 2016 by Canadian UnderwriterRisk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers…
IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool
March 30, 2016 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems…
Autonomous vehicle disruption ‘doesn’t have to matter’ to auto insurance providers: Speaker
March 22, 2016 Greg Meckbach, Associate EditorAuto insurance providers cannot afford to wait 10 years to adjust their business for autonomous vehicles, but driverless cars do not necessarily pose a threat to personal auto insurance providers, the Royal Bank of Canada’s head of home and auto…
Future Thinkers
March 22, 2016 byAdjusters ready to take on new claims environment. Change, it seems, is the only constant.
Smart home technology can be used to reduce potential claims from inclement weather, other risks: Allstate Canada
March 17, 2016 by Canadian UnderwriterSmart home technology can serve as a prevention tool for homeowners looking to reduce potential damage related to exposure to the elements, with Allstate Canada reporting Thursday a company review of home claims reveals almost one in four are related…
More political risk reductions than increases on Aon’s 2016 emerging markets map
March 9, 2016 by Canadian UnderwriterFor the first time in the last three years, more countries on the Aon Political Risk Map 2016 for emerging markets show political risk reductions than increases, although continued low oil prices is exacerbating political risk in already-fragile states. “Anti-corruption…
75% of mobile apps scanned contained at least one critical/high-severity security vulnerability: Hewlett Packard Enterprise
February 22, 2016 by Canadian UnderwriterAbout three-quarters of mobile applications scanned for a recent Hewlett Packard Enterprise (HPE) cyber risk report exhibited at least one critical or high-severity security vulnerability, the company has reported. The HPE Cyber Risk Report 2016, published last week, identified the…
Cyber attack top business continuity threat for second consecutive year: global survey
February 9, 2016 by Canadian UnderwriterCyber attack and data breach are the top threats perceived by surveyed businesses – at number one and two, respectively, in 2015 – notes a new report released Monday. The fifth annual BCI Horizon Scan report – published by the…
Preparation key to helping reduce losses from catastrophes, improving claims experience
February 3, 2016 Jason Contant, Online EditorThe flooding in southern Alberta in 2013 has better prepared claims executives for another major catastrophe, speakers suggested on Tuesday at the inaugural Canadian Catastrophe Conference. “You think you are ready, but you’re never quite ready for what was to…
Ontario auto claims adjusters need to take heed to Supreme Court ruling against Chubb: OIAA speaker
February 3, 2016 Greg Meckbach, Associate EditorA Supreme Court of Canada ruling this past April means Ontario insurance adjusters need to examine all auto accident benefit claims they receive, even if their companies are not involved, an insurance lawyer suggested Wednesday. “If you get an OCF…