Industry
A study from global consulting firm Protiviti said that while many organizations rate themselves as less than “very effective” at addressing their cybersecurity risks, the results are significantly better for organizations in which the board of directors has a high level of engagement with information security risks, and those that include cybersecurity in the annual […]
By Canadian Underwriter | March 4, 2015
2 min read
Third-party security is a top business concern for enterprises, but there is a steep disconnect in resources available to adequately and objectively manage this security, suggested a new study released on Tuesday. Security ratings company BitSight Technologies released the commissioned study, Continuous Third-Party Security Monitoring Powers Business Objectives and Vendor Accountability. It was conducted by […]
Totten Insurance Group, a national insurance managing general agency, announced on Wednesday that it has acquired the shares of National Brokerage Services S.C.N. Inc. (NBS), a Montreal-based commercial insurance wholesaler. The strategic acquisition expands Totten Group’s footprint in the Canadian marketplace and further defines its specialization in underwriting service in key industry segments, the company, […]
Unica Insurance Inc. and Independent Broker Resources Inc. (IBRI) announced Tuesday that Unica is endorsing Fleetadvisor, a commercial auto insurance product announced by IBRI in January. IBRI, a subsidiary of the Insurance Brokers Association of Ontario (IBAO), announced in 2013 a partnership with Quindell Portfolio Plc to offer insurance based on telematics technology. Telematics lets […]
By Canadian Underwriter | March 3, 2015
A report from Strategy Meets Action (SMA), an insurance strategic advisory firm, has found that insurer IT spending is set to increase almost 5% this year over 2014. The annual research report, 2015 Insurance Technology Priorities and Spending, is based on a survey of 105 North American insurance business and technology executives and ongoing observations […]
Two Western Ontario farmers’ mutual insurance companies – North Waterloo Farmers Mutual Insurance Company and Oxford Mutual Insurance Company – announced Monday they agreed to merge. The merger – which is subject to approval both by regulators and by mutual policyholders – would create Heartland Farm Mutual Insurance Inc. Oxford was founded in 1878 […]
By Canadian Underwriter | March 2, 2015
1 min read
Insurance providers in the United States have been able to focus time on and apply lessons to managing non-catastrophic claims, which has resulted in a third consecutive year of higher overall satisfaction among homeowners who have filed a property claim, according to the J.D. Power 2015 Property Claims Satisfaction Study released today. The study, now […]
Legal obligations to supply personal data held on telematics devices are rare in the United Kingdom, suggested a recent blog from Brussels, Belgium-based Ptolemus Consulting Group. Thomas Hallauer, the group’s research and marketing director in London, said on Saturday that meeting with U.K. usage-based insurance (UBI) service providers — or telematics service providers — spurred […]
3 min read
A private member’s bill proposing to let Ontarians drive “utility task” vehicles – on highways on which all-terrain vehicles may also be driven – recently passed second reading at Queen’s Park. “This bill is about expanding the definition of (all-terrain vehicles) to include utility task vehicles,” said Norm Miller, the MPP who sponsored Bill 58, […]
Berkshire Hathaway Inc.’s operating earnings grew for both 2014 compared with 2013 and for 2014 Q4 compared with 2013 Q4, and while operating earnings for insurance-underwriting was down, the quickly growing insurance operation posted its twelfth consecutive year of underwriting profit last year. The company’s operating earnings for 2014 were US$16.551 billion compared with US$15.139 […]
4 min read
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