Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year
June 19, 2017 by Canadian UnderwriterManitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities…
Toronto considering zoning, licensing and taxation rules for short-term rental platforms
June 13, 2017 by Canadian UnderwriterThe City of Toronto will soon consider recommendations to adopt new rules for short-term rental platforms such as Airbnb – which are unregulated – to address concerns ranging from noise to safety and taxation, notes a municipal backgrounder. The Report…
XL Catlin launches new contractors pollution liability program in Canada and the U.S.
June 8, 2017 by Canadian UnderwriterXL Catlin announced on Thursday that it has launched its new Contractors Pollution Liability Express Program in Canada and the United States to provide consumers with “speed to market and a streamlined environmental insurance underwriting approach” for small to midsize…
The Co-operators announces acquisition of Assurance Auclair in Quebec
June 5, 2017 by Canadian UnderwriterThe Co-operators General Insurance Company is looking to further enhance its distribution system in Quebec with the acquisition of Assurance Auclair. The portfolio of the brokerage in Quebec City includes personal and commercial insurance policies, notes a statement Monday from…
How legalizing pot will affect your insurance policies
June 5, 2017 Jason Contant, Online EditorThe impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In…
More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert
May 24, 2017 by Canadian UnderwriterThe greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering…
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…
Autonomous vehicles will add US$81 billion in new premiums for U.S. auto insurers by 2025: report
May 18, 2017 by Canadian UnderwriterInsurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the auto insurance industry in the United States over the next eight years, according to a new report from Accenture and Stevens Institute of Technology (SIT). The…
Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings
May 16, 2017 by Canadian UnderwriterFitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats…
Aviva Canada partners with Tennis Canada for home and auto insurance program
May 15, 2017 by Canadian UnderwriterAviva Canada Inc. announced on Monday that it launching a new “tennis-focused brand experience for home and auto insurance through an extended partnership” with Tennis Canada. The Tennis Canada Home and Auto insurance program for both fans and players alike…
Aviva Canada and Hail Storm Products partner up for discount on auto hail protector system
May 2, 2017 by Canadian UnderwriterAviva Canada and Hail Storm Products have teamed up, with the insurance company announcing on Tuesday that customers can now take advantage of an exclusive 20% discount on the Hail Protector Automobile Hail Protection System. “As the world’s only patented…
No public-private flood coverage model a ‘lift and shift directly to Canada:’ Aviva Canada reinsurance VP
April 28, 2017 Greg Meckbach, Associate EditorBritain’s Flood Re program provides an “analogy for Canada” in insuring high-risk flood zones, while more research is needed to fully understand the economic impact of climate change, speakers suggested at Insurance Bureau of Canada’s recent Financial Affairs Symposium. Balz…