Canadian Underwriter


News ClaimsInsuranceTechnology

The trade-off to using artificial intelligence to speed up claims

August 29, 2018 by Greg Meckbach

Canadian insurers wanting to handle claims like Lemonade are going to have to accept some trade-offs, a Claims Summit speaker said Tuesday. New York City-based Lemonade Insurance Company uses artificial intelligence and says it can handle some claims in three

News InsuranceTechnology

Artificial intelligence a ‘work in progress’ in marine insurance

August 27, 2018 by Greg Meckbach

Some insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for

News InsuranceMarkets / CoveragesTechnology

Why management experience is so important for blockchain insurance

August 24, 2018 by Jason Contant

Given that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:

News Mergers and AqcuisitionsRisk

Hot opportunity in this Canadian insurance line is linked to M&A

August 24, 2018 by Greg Meckbach

Representations and warranties (R&W) insurance is becoming a hot market, as commercial clients wonder whether mergers and acquisitions could expose them to unforeseen liabilities. In Canada, the R&W market “has really expanded,” according to Brian Kelly, a Montreal-based managing partner

News InsuranceMarkets / CoveragesTechnology

Why you’ll have trouble finding D&O insurance for clients using blockchain

August 23, 2018 by Jason Contant

Brokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and

News InsuranceTechnology

Insurance technology awards make final call for entries

August 22, 2018 by Greg Meckbach

Two yet-to-be named Canadian firms, which are using information technology to get “intelligence” from insurers’ data, will be recognized next month in Toronto. Insurance Nexus is accepting nominations for Canadian Insurance Carrier of the Year and Canadian Insurance Innovator of

News AnnouncementsMergers and Aqcuisitions

The Hartford to acquire specialty insurer for $2.1 billion

August 22, 2018 by David Gambrill

The Hartford has signed an agreement to acquire specialty insurer The Navigators Group Inc. for US$2.1 billion in cash. The transaction has been approved by the boards of directors of both companies and is subject to approval by Navigators’ shareholders

News InsuranceLegislation / RegulationRiskTechnology

How blockchain may ramp up your liability exposure

August 21, 2018 by Jason Contant

The rise of blockchain and cryptocurrency technologies have triggered an explosion in securities litigation, a lawyer specializing in the field said last week during a webinar on the insurance implications of blockchain and cryptocurrencies. Alex Drylewski is a partner of

News Earnings / RatingsInsuranceMarkets / Coverages

Signs of a hardening commercial market

August 20, 2018 by Greg Meckbach

Shopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond

News Markets / CoveragesTechnology

Which insurance lines will blockchain transform?

August 17, 2018 by Jason Contant

As the hype around blockchain continues and it looks increasingly like the technology is here to stay, insurers are taking a closer look and seeking to create coverages to respond to this evolving market. Blockchain currently has a variety of

News Markets / CoveragesMGAsRisk

Diversity critical for MGA entering Quebec market

August 17, 2018 by Jason Contant

For Canadian managing general agents, maintaining a diversified portfolio and effective distribution channel for products is crucial to success, according to Gary Hirst, president of CHES Special Risk. Hirst spoke to Canadian Underwriter Thursday, one day after CHES announced it

News InsuranceLegal

Court orders parent to produce underwriting file to prove she denied permission for her child to drive

August 16, 2018 by Greg Meckbach

If a parent does not give permission to a child to drive the car, then if the child gets into a serious accident, a court could order the parent to produce the underwriting file to prove they did not grant