Industry
Less than 30% of respondents to an independent survey of senior investment managers within global insurance companies said they were not concerned about the ability of their current systems to meet their future regulatory requirements, Northern Trust Corporation reported Monday. Commissioned by Northern Trust, the survey involved 250-plus senior investment managers within global insurance companies, […]
By Canadian Underwriter | February 25, 2014
3 min read
MONTREAL – Digitally connected young Canadians have become regular targets of phishing scams – fraudsters trying to steal personal information for financial gain, according to a new survey by Visa Canada. The survey found that 92 per cent of respondents under age 35 confirmed they had been targeted by phishing scams for information such as […]
By Canadian Underwriter | February 24, 2014
Guy Carpenter and Company has launched a new cyber reinsurance practice, focused on addressing what it says are “rapidly increasing” risks related to cyber security. “Rapidly-developing computer technology and the unrelenting evolution of cyber risks presents one of the biggest challenges to the (re)insurance sector today,” Jeremy Platt, co-leader of the new Cyber Solutions Specialty […]
By Canadian Underwriter | February 21, 2014
2 min read
Intact Financial Corporation announced Friday that it has signed a definitive share purchase agreement to acquire Newfoundland and Labrador-based Metro General Insurance Corporation Limited. Terms of the transaction were not disclosed. The deal is expected to close later this year upon receipt of the appropriate regulatory approvals, Intact said. The company said the acquisition will […]
1 min read
TORONTO – The president of GM North America says high-speed wireless technology will be a big focus for the carmaker this year, as it moves to integrate 4G LTE technology across its 2015 vehicle range. The vehicle line, which will be on sale by July and August, will have all the capabilities of customers’ smartphones, […]
By Canadian Underwriter | February 19, 2014
SAINT JOHN, N.B. – Irving Oil says it will convert its fleet of crude oil railcars to comply with U.S. recommendations for DOT-111 tank cars built after Oct. 1, 2011. The Saint John-based company says it will complete the conversion by April 30 and it will require the removal of older-model railcars from service. Specifications […]
By Canadian Underwriter | February 18, 2014
CAA South Central Ontario announced Tuesday the launch of a tool on the Canadian Automobile Association website intended to help senior citizens drive safely. The new CAA web tool “contains assessment instruments to pinpoint areas of improvement, interactive infographics that show common physical changes that affect driving, as well as videos with tips for managing […]
The Insurance Corporation of British Columbia (ICBC) has selected Guidewire Software Inc.’s new underwriting and policy administrative solution in a move expected to help ICBC enhance operational efficiencies and make it easier to do business with its brokers and customers. ICBC, a provincial Crown corporation and sole provider of universal compulsory auto insurance in British […]
By Canadian Underwriter | February 14, 2014
DETROIT – General Motors is recalling nearly 780,000 compact cars in North America because the engines can shut down unexpectedly and cause crashes. The company says six people have been killed in crashes related to the problem. The recall affects Chevrolet Cobalts and Pontiac G5s from the 2005 through 2007 model years. U.S. safety regulators […]
By Canadian Underwriter | February 13, 2014
The risk management practices of polled insurers are becoming increasingly reliant on data and analytics, according to new survey results released Wednesday by State Street Corporation. In all, 82% of insurance executives taking part in the survey cited data and analytics as a key strategic priority for their business, notes a press release from State […]
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