Former Governor General Johnston to help Fairfax Financial with government relations outside Canada
October 17, 2017 by Canadian UnderwriterDavid Johnston, until recently Governor General of Canada, has been hired by Fairfax Financial Holdings Ltd., the Toronto-based corporate parent of several property and casualty insurers, as a global advisor, Fairfax said Tuesday. Johnston was replaced Oct. 2 as Governor…
ICLR to host webinar on exposure of buildings to wildfire
October 10, 2017 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar later this month on vulnerabilities and mitigation strategies related to exposure of buildings to wildfire. The webinar, to be held from 10 a.m. to 11:30 a.m. EDT on…
Commercial brokers compensation will flip over time: RIMS Canada CEO panelist
September 28, 2017 Greg Meckbach, Associate EditorCanadian consumers still “value the trusted advisor model” when buying insurance but there will soon be a “flipping” of brokers’ compensation model on commercial lines, whereby brokers will tend to earn more of their money on the consultative services, senior…
Massive growth earns insurance-related firms 14 spots on Canada’s Fastest-Growing Companies list
September 14, 2017 by Ian PortsmouthThe insurance industry might always look slow and staid to the casual observer, but this year’s PROFIT 500 list proves that exciting opportunities are just about everywhere in the economy — insurance included. Released today by CanadianBusiness.com, the 29th annual…
Hurricane Harvey highlights magnitude of insurance protection gap: Aon Benfield
September 12, 2017 by Canadian UnderwriterFlood losses from Hurricane Harvey have again highlighted the global insurance protection gap, Aon Benfield said in a newly released report. On Monday, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the September edition of…
“Notable shift” in North American perils is inclusion of Canada in covered areas of cat bonds: Aon Securities
September 7, 2017 by Canadian UnderwriterCatastrophe bond issuance in the 12 months ending June 30, 2017, reached a historic US$11.3 billion, nearly US$2 billion larger than the previous all-time record, Aon Securities said in a new report. Aon Securities, the investment banking division of global…
SCM Insurance Services announces majority investment from private equity firm Warburg Pincus
August 31, 2017 by Canadian UnderwriterSCM Insurance Services announced on Thursday that it has received a majority investment from funds affiliated with Warburg Pincus LLC, a global private equity firm focused on growth investing. The major investment, along with the continued investment in SCM by…
Data the engine for innovation to improve business, serve customers, speaker suggests
August 30, 2017 by Angela StelmakowichOrganizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual…
Insurance providers advised to check assumptions that younger generation is comfortable buying online
August 29, 2017 Greg Meckbach, Associate EditorThere is a “convergence” of attitudes towards technology across all age groups and insurance providers need to question their assumptions about buying habits of different demographic groups, speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We want to make sure…
BIP Talk aims to let brokers ‘better understand’ underlying problems with Ontario auto insurance: Forgeron
August 25, 2017 Greg Meckbach, Associate EditorMore than four months after the release of David Marshall’s report on auto insurance, Insurance Bureau of Canada’s president and chief executive officer is hoping Ontario’s brokers will “add their voice” to calls from the industry to “fundamentally overhaul” auto…
Cat bond issuance in Q2 reaches US$6.38 billion across 20 transactions, easily surpassing Q2 2014 record of US$4.49 billion: Aon Securities
August 4, 2017 by Canadian UnderwriterCatastrophe bond issuance during the second quarter of 2017 totalled US$6.38 billion across 20 transactions, a new record for quarterly issuance that easily surpassed the previous record of US$4.49 billion set in Q2 2014, Aon Securities said in a new…
IBC congratulates City of Toronto on the creation of a chief resilience officer position
July 5, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be…