Industry
Handling a fleet of mobile devices in the workforce involves tailoring the approach to the individual user, suggested Graham Chalk, manager of enterprise mobility management (EMM) for Telus Corp., during his presentation at the P&C Technology Conference in Toronto on Monday. Despite the usual differences in the workplace – from people to office sizes to […]
By Canadian Underwriter | March 11, 2015
3 min read
Hannover Re realized its best-ever financial year in 2014 – with the group’s net income increasing to 985.6 million euros from 895.5 million euros – but the reinsurer acknowledges that the general climate is likely to remain challenging in the coming year. With the net income for 2014, “Hannover Re comfortably surpassed the record result […]
WASHINGTON – Four trains hauling crude oil have derailed in Canada and the U.S. since mid-February, rupturing tank cars, spilling their contents, polluting waterways and igniting spectacular fires that burned for days. The derailments have deepened safety concerns that if an oil-train accident were to occur in a populated area, the results could be disastrous. […]
By Canadian Underwriter | March 10, 2015
4 min read
Desjardins General Insurance Group Inc. released Tuesday its financial results for 2014, reporting a 9.9% decline in underwriting income, a 5.9% increase in direct written premiums and a slight increase in combined ratio. DGIG, owned by Desjardins Group of Levis, Quebec, provides home and auto insurance in Ontario, Alberta and Quebec – as well as […]
2 min read
Telematics technology may not reduce the frequency of auto insurance claims, but it does help reduce severity, reduce insured losses and help brokers provide value-added services to both consumer and commercial customers, speakers suggested Tuesday at the P&C Insurance Technology Conference. “In general, what’s been seen is that the claims frequency doesn’t really decrease,” with […]
RSA Canada plans to double its actuarial staff, expand its broker financing and expand its surety offerings across Canada, company officials recently reported. “We conducted a soft launch of surety in March 2014 out of Vancouver and Toronto and are expanding into Montreal in 2015 to provide cross Canada coverage,” an RSA Canada spokesperson wrote […]
Barring unforeseen events, retail/wholesale, food and beverage (RWFB) companies in the United States that benefited from generally ample insurer capacity and competitive rates at the end of 2014 are expected to see similar market conditions though 2015, notes a market update released Monday by Marsh. That said, RWFB companies should be taking several steps to […]
Managing cyber risk in brokerages is really about managing people, not just IT issues, said two speakers at Insurance Canada’s 13th Annual P&C Insurance Technology Conference in downtown Toronto on Monday. “Cyber risk is an IT risk – this is a myth,” said Jad McGregor, president of Abex Insurance, during the Brokers and Cyber Risk […]
By Canadian Underwriter | March 9, 2015
OTTAWA – The Baffin Correctional Centre is a ticking legal time bomb that could go off at any moment, a senior bureaucrat warns in a newly disclosed memo that comes as the territory braces for a scathing report about Nunavut’s most notorious jail. The Canadian Press recently obtained a copy of a January memo written […]
Ingenie Canada Inc. announced Monday it is offering auto insurance in Ontario, using telematics technology, to drivers aged 24 and under. “Young drivers insured by ingenie install a Smartbox in their car, which builds a picture of their driving style based on indicators such as speed, acceleration, braking and cornering,” Ingenie said in a press […]
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