Industry
All auto insurance carriers should have a telematics strategy, and their executives should assess the ability of their computer systems to collect, organize and store the data gleaned from telematics devices, Accenture suggested in a recent report. In its report, Insurance telematics: A game-changing opportunity for the industry, Accenture advises all auto insurers to “have a […]
By Canadian Underwriter | August 15, 2014
2 min read
Allied World Assurance Company has launched a property line for energy risks in the Canadian market, the company announced Thursday. The company launched its initial property and excess casualty offerings for Canada in May. The new team will provide capacity for a wide range of industry classes in the energy space. Dan Fitzpatrick, vice president […]
By Canadian Underwriter | August 14, 2014
1 min read
The Autorité des marchés financiers (AMF), the regulatory and oversight body for Quebec’s financial sector, has issued a caution to investors in the province about the use of Internet-based trading platforms, primarily in the currency markets and the use of binary options. AMF is taking action in the wake of work done by its cyber […]
Commercial lines insurance prices rose 2.7% in the first quarter of the year, Towers Watson has reported in its latest Commercial Lines Insurance Pricing survey of Canadian insurers. “Commercial insurance prices in aggregate have been increasing marginally since the third quarter of 2011, with the highest increase in the first quarter of 2014,” according to the […]
The 15 participating members of the Association of Bermuda Insurers and Reinsurers (ABIR) are reporting a record-high contract certainty rate for insurance contracts at 99.0%, with year-end 2013 results also strong for reinsurance contracts at 97.7%. The six-year average contract certainty results – since monitoring of contract certainty results began at the 2008 renewal period […]
The use of telematics technology in auto coverage, and the usage-based insurance (UBI) model, will “act as bridges toward an inevitable future” for the industry, in which “non-traditional” companies could “enter and disrupt” the risk management business, Aite Group LLC suggested in a new report. Aite Group announced Thursday the release of Telematics and Usage-Based […]
3 min read
Calling it a first in Canada, KANETIX reports a free DriveSmart app by KANETIX.ca will help drivers gauge if they would benefit from usage-based insurance (UBI) programs and perhaps save money on their car insurance. UBI programs collect data from a device typically installed in a driver’s vehicle to provide safe drivers with auto insurance […]
By Canadian Underwriter | August 13, 2014
ST. JOHN’S, N.L. – Newfoundland and Labrador is launching an external review into hydraulic fracturing after the results of an internal government analysis came back inconclusive. Natural Resources Minister Derrick Dalley says the information gathered through the internal review isn’t enough to make a final decision about fracking in the province. Dalley says an independent […]
By The Canadian Press | August 12, 2014
QUEBEC – The owners of a seniors’ home where 32 residents died in a tragic fire are calling for a public inquiry into the disaster. Roch Bernier, one of the co-owners of the Residence du Havre, says people have a right to know the real story behind the Jan. 23 blaze. Bernier is part of […]
Most insurance decision-makers at small businesses responding to a recent survey, who bought coverage from “personal lines-focused” insurers, said they met with their agent in person, market research firm J.D. Power suggested. J.D. Power, a unit of New York City-based McGraw Hill Financial Inc., released Monday its second annual 2014 U.S. Small Business Commercial Insurance […]
By Canadian Underwriter | August 12, 2014
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