Industry
Malware cyber attacks are on the rise compared to one year ago, according to Chubb, with a new type of strain on the rise. The first half of 2019 has seen more ransomware attacks than 2018, catching the eye of the insurer in its third-quarter edition of its Chubb Cyber InFocus Report, where it called […]
By Adam Malik | October 23, 2019
3 min read
Gore Mutual is making a number of key changes to its executive team as part of a new strategy to grow into a digital-led national insurer, the carrier announced Wednesday. It intends to grow beyond its core markets of Ontario and British Columbia. As part of the announced changes, chief information officer Sean Christie and […]
By Jason Contant | October 23, 2019
Something good may be in store for the property and casualty insurance industry as a result of the federal election Monday night. With the re-election of the federal Liberal party, albeit a minority, the stage is set for the speedy arrival of a flood risk mitigation plan. The Liberals promised a number of items in […]
By Adam Malik | October 22, 2019
Although the National Flood Insurance Program (NFIP) in the United States has its shortcomings, a similar program could benefit Canada if steps were taken to avoid its flaws, suggested an article published in MSA’s Quarterly Outlook Report for Q2 2019. Some of the flaws include the continuous renewal of flood insurance policies despite repeated claims […]
By Jason Contant | October 18, 2019
4 min read
HALIFAX – Maritimers are facing strong gusts and localized downpours today as a slow-moving low pressure system crawls through the region. Ian Hubbard, a meteorologist at Environment Canada, says it’s expected that there will be sustained winds of about 60 kilometres per hour through much of Nova Scotia, Prince Edward Island and parts of New […]
By The Canadian Press | October 17, 2019
1 min read
Quebec’s financial regulator and an auto insurance group have announced the launch of a new auto policy designed for drivers who don’t own a vehicle. Regulator Autorité des marchés financiers (AMF) and Groupement des assureurs automobiles (GAA) said Monday the new policy – Quebec Auto Insurance Policy No. 2 – Insurance for drivers who do […]
By Jason Contant | October 15, 2019
2 min read
Ontario’s new financial regulator wants to encourage innovation by allowing new product or distribution ideas on a trial basis. “Because if you don’t allow people to iterate… then it’s easier for them not to come in,” Mark White, CEO of the Financial Services Regulatory Authority of Ontario (FSRA), said Oct. 1 during the Insurance Institute […]
By Jason Contant | October 11, 2019
With primary insurance companies seeking higher rates since the beginning of the year, proportional reinsurance programs are benefiting directly from these rate improvements, Joseph El-Sayegh, president and CEO of SCOR Canada Reinsurance Company, told Canadian Underwriter Wednesday. In proportional reinsurance, a reinsurer agrees to assume a percentage of a primary insurer’s original policies, up to […]
By Jason Contant | October 9, 2019
TORONTO – The personal information of about 37,000 Canadians may have been compromised between June and July, TransUnion Canada says. The credit monitoring agency said the data was accessed through the fraudulent use of one if its legitimate business customer’s login credentials. TransUnion said it learned of the breach in August and has notified those […]
By The Canadian Press | October 9, 2019
Aviva Canada sees its new Global Corporate Specialty (GCS) business unit growing disproportionately to the rest of its business, Aviva Canada CEO Jason Storah told Canadian Underwriter Friday. “We’ve been in [the specialty business], but I think we’ve been in it quite quietly,” Storah said in an interview. “We wanted to make a bit of […]
By Jason Contant | October 7, 2019
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
