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Equifax to update Canadians this week, still mum on number impacted by hack

September 18, 2017 Armina Ligaya - THE CANADIAN PRESS

TORONTO – Equifax Canada said Monday it plans to provide an update this week on the impact of its massive data breach it, but would not say how many individuals north of the border may have had their personal information

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Equifax faces growing scrutiny as CAA says 10,000 may be impacted

September 15, 2017 Armina Ligaya and David Hodges - THE CANADIAN PRESS

TORONTO – Equifax Canada is facing intensifying calls for transparency on its massive cyberhack as the Canadian Automobile Association informs thousands of its members that their data may have been compromised and frustrated consumers ask questions about why they’re being

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Catastrophe bonds sponsored by Florida property insurers ‘could trigger’ due to Irma claims: A.M. Best

September 13, 2017 by Canadian Underwriter

Hurricane Irma could trigger catastrophe bonds sponsored by American insurers with significant exposure in Florida, A.M. Best Company Inc. suggested in a briefing released Tuesday. The United States National Weather Service reported Wednesday that Irma is now a post-tropical cyclone

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Coalition urges ‘substantive reforms’ to U.S. National Flood Insurance Program

September 11, 2017 by Canadian Underwriter

As Tropical Storm Irma moves north through Florida, a group whose members include insurers is urging American politicians to reform the National Flood Insurance Program, which expires Sept. 30. SmarterSafer announced Sept. 7 it “continues to support a reauthorization of

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Shipments of “connected wearables” up 75.1 million devices to 96.5 million last year: Berg Insight

September 7, 2017 by Canadian Underwriter

Shipments of connected wearables will reach 262.5 million in 2021, with Bluetooth remaining the primary connectivity option in the coming years, Internet of Things (IoT) analyst firm Berg Insight said in a statement on Thursday. The Gothenburg, Sweden-based machine-to-machine/IoT market

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‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best

September 6, 2017 Greg Meckbach, Associate Editor

As the Bank of Canada announced Wednesday its second rate hike in less than two months, an analyst with A.M. Best Company Inc. suggested to industry professionals that  a 2.1-point increase in the industry-wide operating ratio in the Canadian property

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NFIP losses from Hurricane Harvey estimated to reach US$7-10 billion: RMS

September 5, 2017 by Canadian Underwriter

Gross losses accrued in the National Flood Insurance Program (NFIP) from Hurricane Harvey will be between US$7-10 billion, Pete Dailey, vice president of product management with Risk Management Solutions, Inc. (RMS), suggested in a blog posted on Friday. About 40%

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Small Canadian mutual insurers ‘may not realize’ all benefits of demutualization: A.M. Best

September 1, 2017 by Canadian Underwriter

While Economical Insurance plans to submit next year a conversion proposal outlining a proposal to demutualize, if a smaller mutual property and casualty insurer were to go through the same process as Economical, it “may not realize the benefits when

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A.M. Best reports spike in Canadian investment in U.S. insurance market

September 1, 2017 by Canadian Underwriter

There is a “growing interest” among Canadian property and casualty insurers in the United States market, while on this side of the border, Aviva plc has became the Number 2 P&C insurer in Canada and the loss ratio in Canadian

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Data the engine for innovation to improve business, serve customers, speaker suggests

August 30, 2017 by Angela Stelmakowich

Organizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual

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Home telematics startup Roost closes second round of funding with investments from Desjardins Insurance and Aviva Ventures

August 23, 2017 by Canadian Underwriter

Roost, a U.S.-based innovator in smart home telematics for the insurance industry, announced on Wednesday it has closed its second round of funding with US$10.4 million in investments from three companies, including Desjardins Insurance. The US$10.4 million Series B funding includes strategic investments from three companies, led by Aviva Ventures, with participation from Desjardins Insurance and Fosun RZ Capital in China, noted information from Sunnyvale, Calif.-headquartered Roost. Existing investors also participated in the round, bringing total funding to date to US$17 million.…

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Ironshore establishes computer emergency response team to help policyholders with cyber response

August 22, 2017 by Canadian Underwriter

New York-based Ironshore Inc. is taking steps to help manage cyber claims for all in-force policies, regardless of line, with the launch of a dedicated computer response team. Comprised of cyber claims co-ordinators representing each of the insurer’s specialty lines