Canadian Underwriter


News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Property Claim Services and NFIP to report aggregate flood loss estimates

October 5, 2017 by Canadian Underwriter

Property Claim Services (PCS) reported on Thursday that it will publish aggregate flood loss information supplied by the National Flood Insurance Program (NFIP), beginning with Hurricane Harvey. Historically, NFIP losses have been excluded from PCS’ industry insured loss estimates, the

News InsuranceMarkets / CoveragesTechnology

Leaf Forward launches “Canada’s first cannabis business accelerator”

October 4, 2017 by Canadian Underwriter

Leaf Forward – which describes itself as “Canada’s first cannabis business accelerator” – reported on Wednesday that it has launched successfully, hosting two founders classes, where 12 cannabis start-ups participated in a full day of “intensive mentoring” with industry leaders.

News InsuranceMarkets / CoveragesTechnology

XL Catlin partners with AI start-up Cytora

October 4, 2017 by Canadian Underwriter

XL Catlin’s internal innovation team Accelerate announced that it is working with Cytora, a United Kingdom-based insurtech start-up that uses artificial intelligence (AI) and open source data to improve the way insurers quantify, select and price risk. A joint press

News InsuranceMarkets / CoveragesTechnology

Insurtech triggering transformation in personal lines: SMA

October 4, 2017 by Canadian Underwriter

New research out of the United States assessing 600 start-ups identified as relevant for personal lines insurers indicates these new players may fail, but they are having a tangible impact on the p&c insurance industry and how it delivers services,

News InsuranceProductsTechnology

Turo launches car-sharing marketplace in B.C., partners with car rental entrepreneurs

October 3, 2017 by Canadian Underwriter

Turo, which connects local car owners with travellers looking for adventure and in need of a vehicle, has expanded its car-sharing marketplace into British Columbia. To address provincial insurance regulations, the company has structured the expansion by partnering with local,

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

RMS estimates insured losses from Hurricane Maria at between US$15-30 billion

September 28, 2017 by Canadian Underwriter

Global risk modelling and analytics firm RMS is estimating that the insured losses from Hurricane Maria will be between US$15-30 billion. RMS said in a press release on Thursday that the estimate represents the insured losses associated with wind, storm

News InsuranceMergers and AqcuisitionsTechnology

Fully online aha insurance launches auto insurance for Ontario market, home insurance “coming soon”

September 26, 2017 by Canadian Underwriter

Waterloo, Ont.-based Ignite Insurance and Ignite Holdings announced on Monday that aha insurance – the online auto and home insurance service – “is available today for the auto insurance market and, coming soon, the home insurance market in Ontario.” aha

News CatastrophesClaimsInsuranceMergers and Aqcuisitions

Hurricane relief around-the-clock: U.S. Department of Defense

September 26, 2017 THE ASSOCIATED PRESS

The U.S. Defense Department was working around the clock to deliver humanitarian assistance to Puerto Rico and the U.S. Virgin Islands, even as the death toll climbed further across the Caribbean after Hurricane Maria. By Monday afternoon, the confirmed toll

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Intact’s acquisition of OneBeacon Insurance Group expected to close this week

September 25, 2017 by Canadian Underwriter

Intact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said

News InsuranceLegalMergers and Aqcuisitions

U.S. federal agency urging corporate cybersecurity upgrades is hacked

September 21, 2017 The Associated Press (APR)

The federal agency responsible for ensuring that markets function as they should and for protecting investors was hacked last year and the intruders may have used the nonpublic information they obtained to profit illegally. The disclosure arrived two months after

News CatastrophesClaimsInsuranceMarkets / Coverages

Widespread flooding in San Juan as first Cat 4 hurricane in 85 years makes landfall in Puerto Rico

September 21, 2017 by Canadian Underwriter

Hurricane Maria is causing river levels to approach or exceed record levels in the United States territory of Puerto Rico, while Hurricane Irma could cause total economic losses of up to US$95 billion in the U.S. and the Caribbean, catastrophe

News Insurance

100,000 Canadians may have been affected by data breach: Equifax Canada

September 19, 2017 by Canadian Underwriter

Equifax Canada is reporting that the personal information of approximately 100,000 Canadian consumers may have been affected by the credit monitoring company’s recent data breach. “While our investigation is ongoing and this information may change, at this point, we believe