Canadian CEOs view disruption as an opportunity, report disrupting their sectors: KPMG study
June 13, 2017 by Canadian UnderwriterThree-quarters of Canadian CEOs (75%) see disruption as an opportunity for their business, not a threat, and 86% said their business is actively disrupting its sector rather than waiting for disruption by competitors, according to a new survey from audit,…
BlackBerry system geared at helping automakers ensure safe and secure autonomous vehicles
June 8, 2017 by Canadian Underwriter“There is no safety without security,” John Wall, senior vice president and head of BlackBerry QNX, said this week as part of the launch of a new real-time, type 1 hypervisor that can be used in next-generation connected and autonomous…
Canadian auto sales set record in May, gain 11.2% compared with a year ago
June 2, 2017 The Canadian PressRICHMOND HILL, Ont. – DesRosiers Automotive Consultants says Canadian auto sales set a monthly record in May, gaining 11.2 per cent year-over-year. The consulting firm says vehicle sales for the month totalled 216,861 including 75,172 cars and 141,689 light trucks,…
Boyd Group Income Fund to acquire collision repair company Assured Automotive for $193.6 million
May 30, 2017 by Canadian UnderwriterBoyd Group Income Fund (BGIF) is looking to cement the Boyd Group’s position as a leading provider of collision repair services in Canada with the announcement it has entered into a definitive agreement to acquire the assets and business of…
Autonomous vehicles will shrink U.S. auto OEM collision repair revenue by 48% by 2030: KPMG
May 18, 2017 by Canadian UnderwriterOriginal equipment manufacturers (OEMs) in the United States will see a 48% dent in their lucrative collision parts business as a result of self-driving cars, a new report from audit, tax and advisory firm KPMG. The report Will autonomous vehicles…
The toughest challenge for self-driving cars? Human drivers
May 11, 2017 Tom Krisher - THE ASSOCIATED PRESSDETROIT – In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robotaxis. A self-driving car would be programmed to drive at the…
Global demand for new vehicles to increase 1% to 2% in 2017: Fitch
May 4, 2017 by Canadian UnderwriterGlobal demand for new vehicles will increase 1% to 2% in 2017, according to Fitch Ratings’ latest U.S. Automotive Handbook, published on Wednesday. The handbook noted that growth in China, Europe and Brazil will more than offset demand declines in…
Brokerage Andrew Agencies Ltd. purchases Waggoner Insurance of Winnipeg
May 3, 2017 by Canadian UnderwriterVirden, Man.-based multi-line brokerage Andrew Agencies Ltd. has announced the acquisition of Waggoner Insurance effective May 1. Scott Andrew, president and CEO of Andrew Agencies and Ed Waggoner, president and CEO of Waggoner Insurance made the announcement in a press…
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…
Canadian industry underwriting income down 81% in 2016: MSA
April 18, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released…
Autonomous vehicles coming, but auto books will not disappear any time soon: CIAA event speaker
April 17, 2017 by Angela StelmakowichAutonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian…
Federal, Ontario governments invest in Ford Canada centre focusing on connectivity
March 30, 2017 by Canadian UnderwriterJustin Trudeau has announced a joint federal and Ontario government investment in the Ford Motor Company of Canada, part of which will help establish a new research and engineering centre focusing on connectivity research and development. Prime Minister Justin Trudeau…