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News InsuranceTechnology

How future technology will help brokers, not replace them

November 27, 2018 by David Gambrill

In a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies

News InsuranceLegislation / Regulation

Ontario government promises auto rate review

November 18, 2018 by Greg Meckbach

The Ontario government announced Thursday it plans to “review how auto insurance rates are regulated” and confirmed the government will still run the Motor Vehicle Accident Claims Fund. A review of rate regulation will be done “jointly with the Financial

News InsuranceMergers and Aqcuisitions

CAA Insurance parent agrees to buy Echelon Insurance

November 9, 2018 by Greg Meckbach

CAA Club Group has agreed to buy non-standard auto insurer Echelon Insurance for $175 million, the companies said Friday. The deal will allow CAA Insurance to reach new markets and customers, CAA Club Group president Jay Woo wrote in an

News Technology

Insurance without the carrier coming soon

November 7, 2018 by Greg Meckbach

A blockchain-based business insurance model that could see non-regulated investors as the capital providers is coming sooner that you think, although it may not necessarily arrive in Canada in the short term, predicts an executive who has led two major

News InsuranceRiskTechnology

Two-day hackathon seeks tech solutions to distracted driving, pedestrian safety

November 2, 2018 by Jason Contant

Developing technology-based solutions to tackle distracted driving, pedestrian safety and house-to-house communication are the goals of an upcoming hackathon hosted by Canada’s second largest insurer and a technology start-up accelerator. Aviva Canada and OneEleven will host the Safer Neighbourhoods Hackathon

News InsuranceLegalMarkets / Coverages

Why this insurer is ‘shrinking’ its D&O liability business

October 26, 2018 by Greg Meckbach

Lawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said

News Technology

Intact-backed insurtech cracks the Fintech100 list

October 23, 2018 by Greg Meckbach

A French robo-broker and an auto insurer backed by Canada’s largest property and casualty carrier are among the insurtechs “driving disruption” in financial services, a report released Tuesday suggests. KPMG announced Tuesday the fifth annual Fintech100, a report that highlights

News AppointmentsBrokersInsurance

Canadian Broker Network appoints next chairman

October 11, 2018 David Gambrill

Canadian Broker Network, Canada’s leading network of independent insurance brokers, is pleased to announce the appointment of Andrew Kemp, co-president of CapriCMW Insurance Services Ltd., as the next CBN chairman. “We welcome Andrew Kemp as chairman whose industry experience and

News BrokersInsuranceTechnology

Five pillars of brokerage digital transformation

October 9, 2018 by Jason Contant

More Canadian brokerages are moving towards a fully digital experience as consumer expectations are driving demand for faster, more efficient service, a broker management system (BMS) provider said Monday. “More brokers are moving to a completely connected experience from internal

News InsuranceLegislation / Regulation

Regulatory guidance should recognize broker independence, insurers say

October 4, 2018 by Greg Meckbach

When it comes to market conduct in the property and casualty industry, the regulations should recognize that brokers are independent, an Insurance Bureau of Canada spokesperson says. A guidance paper explaining regulators’ “overarching expectations” on market conduct for brokers, agents

News Insurance

Economical wins insurance technology award for Vyne platform

September 26, 2018 by Jason Contant

Economical Insurance has won Insurance Nexus’ Canadian Insurance Carrier of the Year 2018 award for its Guidewire-based computer system Vyne. The carrier of the year award recognizes the insurer who has made the biggest advances in implementing analytics and artificial

News Risk

Cirque du Soleil’s director of risk management receives top honours

September 24, 2018 by David Gambrill

Michel Rodrigue, Cirque du Soleil’s director of risk management and insurance, has received this year’s Donald M. Stuart award, Canada’s highest honour for risk management. Based in Montreal, Cirque du Soleil is an entertainment company that produces spectacular theatrical shows