Settling claims in-house was one reason this MGA got acquired
October 7, 2018 by Greg MeckbachTotten Insurance Group Inc. might start offering brokers quotes within 24 hours on certain lines, the company’s president told Canadian Underwriter Friday. Totten, a Toronto-based managing general agent, recently acquired Saint John, N.B.-based MGA Anderson McTague & Associates Ltd., a…
How SSL Endeavour is streamlining access to the Lloyd’s market
October 3, 2018 by David GambrillSSL Endeavour in Canada is streamlining access to the Lloyd’s market by rolling out its Advantage claims management platform, allowing Canadian coverholders and TPAs to input claims data directly into London’s central systems. Streamlining the claims process is a priority…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
Economical wins insurance technology award for Vyne platform
September 26, 2018 by Jason ContantEconomical Insurance has won Insurance Nexus’ Canadian Insurance Carrier of the Year 2018 award for its Guidewire-based computer system Vyne. The carrier of the year award recognizes the insurer who has made the biggest advances in implementing analytics and artificial…
Is technology creating an ‘underwriter in a box’?
September 22, 2018 by Jason ContantWe often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing…
Insurer restricts trampoline insurance coverage after serious injuries
September 21, 2018 by Jason ContantIncreased losses due to significant trampoline injuries has resulted in restrictions on insurance coverage in Alberta. The Alberta Gymnastics Federation (AGF) provided an update on its trampoline coverage on Sept. 7. Due to a recent limitation endorsement, coverage is restricted…
What to do about clients who lie about their address
September 19, 2018 by Jason ContantIf an insurer has proof a claimant is committing address fraud, there are several weapons they have in their arsenal to fight it, an insurance lawyer said Tuesday. The first thing the insurer should do is ask the underwriting department…
New property and energy head for Swiss Re Corporate Solutions Canada
September 12, 2018 by Greg MeckbachSwiss Re Corporate Solutions has appointed Jamie Mullarkey as head of property and energy for Canada, replacing Yvonne Steiner. Swiss Re Corporate Solutions, which writes commercial primary insurance in Canada, targets large and mid-sized organizations. Steiner, who joined Swiss Re…
This reinsurer says rates need to go up
September 10, 2018 by Jason ContantUnderwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the…
How Guidewire is changing its approach to the market
September 10, 2018 by Greg MeckbachGuidewire Software Inc. is “not interested” in building a services organization and is touting its new analytics and data services group to insurance buyers. The new analytics and data services group – formed after the acquisition in 2017 of modelling…
Best exit strategies for selling your brokerage
September 1, 2018 by Jason ContantLooking to sell your brokerage? Don’t assume your brokerage will eventually sell for an ever-increasing multiple of revenue, or that you will be able to sell at the high end of the current ranges, a P&C advisory and consulting firm…
Insurer CEO to personally visit FSCO asking for higher rates
August 30, 2018 by Greg MeckbachThe newly-elected Ontario government should let carriers change their rates without approval from the Financial Services Commission of Ontario, the president of a mutual that writes auto contends. It “makes sense” to require insurers to file rates with FSCO “but…