Despite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce…
Insurance carriers selling through brokers should share, with competitors, some of the software they make to exchange data with brokers’ computer systems, speakers suggested Wednesday at the Data Exchange (D/X) launch. “We need to communicate more quickly and efficiently with…
Wawanesa Mutual Insurance Company announced Wednesday that that it will sell its insurance products exclusively through independent Quebec insurance brokers, discontinuing direct sales to customers in the province. With this move, Wawanesa will be selling solely through brokers in all…
Risk managers in the restaurant and bar business need to “mine” for information from potential insureds to make sure they exercise their duty of care in serving alcohol responsibly. “From a risk management standpoint, what’s key is the insured is…
As insurers’ computer databases get exponentially larger, the controversy around the use of credit scores in rating property coverage is getting intense. Customers are asking for “transparency” from insurers on how they price and underwrite insurance, Jean-François Larochelle, director of…
One of the “disruptive promises” of blockchain is the ability to use it for insurance, and Canada’s largest insurer confirmed recently that it is exploring its potential. Thus far, however, blockchain “is still [a research and development] project” at Intact Insurance, Jean-François…
Intact Insurance has launched its new Commercial Property and Liability insurance Quick Quote, a tool designed to give small business owners an insurance quote on their business in about three minutes. The online commercial property and liability quoting tool follows…
Aviva Canada reported Thursday that it has added to its executive teams in risk, claims and information technology. Bryant Vernon is the new chief claims officer (CCO), Nicole Brouillard is the chief information officer (CIO) and Michel Dionne is the…
The use of telematics in pricing auto insurance is going to become more “prevalent,” and a major property and casualty insurer is trying to use the technology to get a better idea of driver risk, speakers said during a recent…
The public policy division of Travelers is recommending that a “clear risk transfer mechanism” be in place to adapt auto insurance for autonomous vehicles. “While there has not been widespread attention paid to how liability and compensation will be addressed as…
Bermuda insurer Axis Capital Holdings Ltd. has picked Brad Randell as its new chief agent in Canada. The appointment is subject to regulatory review, Axis said Thursday in a release. The previous chief agent in Canada for Axis – Darin…
The Co-operators and insurtech Slice Labs announced Wednesday a partnership to allow the insurer to launch a new digital insurance brand in Canada. The first product – underwritten by The Co-operators – will be a pay-per-use homeshare offering under the brand…