Industry
Marsh & McLennan Companies Inc. reported US$1.47 billion, in Q2 2015, in revenue from commercial insurance brokerage Marsh Inc. Marsh & McLennan Companies Inc. released Tuesday its financial results for the three months ending June 30, reporting a 6.1% increase, year over year, in Q2 revenue from Marsh Inc. in the United States and Canada […]
By Canadian Underwriter | July 28, 2015
2 min read
Digital payments using wearable devices such as smartwatches, fitness trackers and payment wristbands will grow dramatically from US$3.1 billion in 2015 to US$501.1 billion worldwide by 2020, suggests a new report from market intelligence firm Tractica. Wearable payment systems may utilize near field communication, radio frequency identification, or quick response (QR) codes and barcodes as […]
By Canadian Underwriter | July 27, 2015
The start of 2015 has continued on the Insurance Linked Securities (ILS) market’s record-setting pace from last year, with a record US$2.69 billion of bonds called or matured, according to the Swiss Re Insurance Linked Securities Market Update, released on Monday. The report said that “a tsunami of maturities” preceded a blizzard of new issuance […]
The need for effective security governance is reflected in results of a recent global survey of 964 people that shows a growing trend for establishing primary security function outside of IT, notes Gartner Inc. In a study released Friday, 71% of respondents – large organizations, from seven countries, with at least US$50 million equivalent in […]
CAA South Central Ontario (CAA SCO) announced on Monday that it is launching its Heads Up! campaign with the help of the provincial Ministry of Transportation, Ontario Provincial Police, York Regional Police and the Toronto Police Service. The aim of the campaign is to raise awareness and educate drivers about the new laws and regulations […]
A new Deloitte LLP survey out of the United Kingdom shows that consumers want their products personalized, with the greatest interest voiced by those aged 16 to 30. Mass personalization is set to become a reality, with 36% of surveyed consumers reporting they are interested in personalized products or services, notes a press issued Friday […]
Fiat Chrysler Automobiles (FCA) announced on Friday that it was conducting a voluntary safety recall to update software in approximately 1.4 million U.S. vehicles equipped with certain radios. The recall “aligns with an ongoing software distribution that insulates connected vehicles from remote manipulation, which, if unauthorized, constitutes criminal action,” FCA said in a press release. […]
By Canadian Underwriter | July 24, 2015
A law firm with offices in Windsor, Ont. and Toronto has filed a $410 million class-action lawsuit against Uber X and Uber XL on behalf of all taxi and limousine drivers, owners and brokers licensed in Ontario. Sutts, Strosberg LLP filed the lawsuit on Thursday with the Ontario Superior Court of Justice, the law firm […]
The United States-based Chubb Corporation reported Thursday that consolidated net income for the second quarter of 2015 was US$494 million, down slightly but in line with US$499 million for the same quarter of 2014. “Net income for the second quarter of 2015 reflected net realized investments gains of US$20 million before tax,” notes a statement […]
3 min read
The rise of autonomous and semi-autonomous cars will change the nature of car ownership and challenge the auto insurance market to develop new business models, the London, United Kingdom-based Lloyds Market Assocation (LMA) said this week. Speaking at an LMA event at Lloyd’s of London, David Powell, the LMA’s non-marine manager, outlined how advances in […]
By Canadian Underwriter | July 23, 2015
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