Industry
United States-based Crawford & Company has expanded its aviation expertise with the recent acquisition of GAB Robins, a move demonstrating Crawford’s commitment to the aviation industry and one that will allow the company to offer clients a wider range of disciplines. Crawford Global Technical Services (GTS) last week officially launched its new global aviation team, […]
By Canadian Underwriter | June 22, 2015
2 min read
TORONTO – A report from Canada’s Senate says Ottawa should use a “light touch” when considering any regulation of Bitcoin and other digital currencies, to avoid stifling the growth of these new technologies. The report recommends that the federal government should employ “almost a hands off approach” when it comes to virtual currencies, monitoring the […]
By Canadian Underwriter | June 19, 2015
3 min read
The Transportation Safety Board of Canada (TSB) said that a wheel with an undetected defect was responsible for a derailment and fire involving a Canadian National (CN) train near Plaster Rock, N.B. in January 2014. In its investigation report released on Friday, the TSB said that a wheel on the 13th car shattered due to […]
Gen Y customers – those born between 1977 and 1994 – are the driving force behind an increase in overall auto insurance satisfaction in the United States due to improvement across all customer service interaction channels, according to the J.D. Power 2015 U.S. Auto Insurance Study released on Friday. The study – based on responses […]
More than half of respondents to Xuber’s latest Global Reinsurance Survey 2015 are planning major IT investment over the next 18 months, in line with the fact that two-thirds of those polled agree or strongly agree that technology drives the success of their businesses. Xuber, Xchanging’s international insurance software business, released the third and final […]
LOS ANGELES – California state officials released reports Thursday detailing six accidents that involved self-driving car prototypes, reversing a policy that had shielded details of how the next-generation technology is performing during testing on public roads. The disclosure came after The Associated Press successfully argued to the Department of Motor Vehicles that the agency was […]
By Canadian Underwriter | June 18, 2015
4 min read
The global “M&A blizzard” continues and has yet to peak, according to the latest Quarterly Deal Performance Monitor from global professional services company Towers Watson. While the overall volume of mergers and acquisitions remains high in the second quarter of 2015, enthusiasm for “large” and “mega” deals is particularly strong for the third consecutive quarter, […]
The reinsurance industry must overcome the current state of “structural crisis” in order to remain relevant, Philipp Wassenberg, president and CEO of Munich Reinsurance Company of Canada, said during a Property Casualty Underwriters Club luncheon and panel discussion held in downtown Toronto Tuesday. “From a reinsurance perspective, but this drives into the insurance perspective as […]
Seven in 10 U.S. insurers are unprepared for the potential disruption caused by autonomous vehicles, suggests a study released on Wednesday by audit, tax and advisory firm KPMG LLP. KPMG surveyed senior U.S. insurance executives whose companies, in aggregate, account for almost US$85 billion in personal and commercial auto premiums, the firm said in a […]
U.S.-based Verisk Insurance Solutions has announced a new strategic alliance with Intelligent Mechatronic Systems Inc. of Waterloo, Ontario, a leader in connected-car technology, because of IMS’s “well-defined and proven approach to deploying successful insurance telematics programs worldwide.” The strategic alliance “signifies the extension of IMS strategy to continue offering insurers best-of-class choices for driver analytics […]
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