Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for…
Blockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in…
Investors wanting to keep their money out of nuclear energy, the arms industry or alcohol manufacturers are being targetted by American International Group Inc., which announced Thursday it is marketing a new dividend mutual fund. New York City-based AIG announced…
Intact Financial Corp. said Tuesday it is “confident” that the Ontario government will “implement material changes” in auto insurance, while reporting a combined ratio of 98.2% during the first three months of year, up 5.7 points from 92.5% during the…
More 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…
Liberty Mutual Insurance has announced that it has completed its acquisition of 100% ownership in Ironshore Inc. from Fosun International Limited. Global insurer Liberty Mutual made the announcement earlier this week that it had acquired Ironshore Inc., a global specialty…
Intact Financial Corporation has announced that it intends to acquire OneBeacon Insurance Group, Ltd., a specialty insurer in the United States, for US$1.7 billion. Intact declared on Tuesday that it has entered into a definitive agreement and plan of merger…
The Ontario government announced Thursday it is “reviewing” 35 recommendations on auto insurance form made by the former head of the province’s government-run workers’ compensation insurance system, the same day an insurance defence lawyer warned that some of those recommendations…
A 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…
PHILADELPHIA – Risk managers will need to take the lead in organizational efforts to address complex challenges and opportunities in an environment that increasingly features rapidly advancing disruptive technology risks, suggests a joint report from broker and risk advisor Marsh…
Canadian property and casualty managing general agency (MGA) Can-Sure Underwriting and Beacon Underwriting announced on Tuesday that Cameron Copeland will assume the role of president. Copeland assumed the role effective April 15, succeeding Can-Sure founder Jeff Hart, who has “decided…
Neither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a…