Industry
It appears that surveyed reinsurers have finally reached the technology tipping point. Digitization is now seen as key to the change that must unfold. It is believed that those who quickly move to create solutions that are grounded in modern technology, taking into account how insurance is bought, sold and managed, will be the most likely winners.
By Richard Clark, Business Development Director, Xuber, a CSC company | July 2, 2016
5 min read
The medieval nursery rhyme, ring a ring o' roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry's past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?
By Sean van Zyl, Freelance Writer | July 1, 2016
7 min read
PERILS AG Friday issued an estimate of £538 million for insured property market loss from flooding damage in the United Kingdom as a result of storms in late December and early January. Storms Eva and Frank hit the U.K. in late Dec. 2015 and that was followed by other low pressure systems in early Jan. […]
By Canadian Underwriter | June 27, 2016
2 min read
The London insurance market is resilient and well-positioned to respond to the United Kingdom’s decision to leave the European Union (EU), the International Underwriting Association of London (IUA) said on Friday. In a referendum held on Thursday, about 52% voted to relinquish EU membership. The IUA, which represents international and wholesale insurance and reinsurance companies […]
By Canadian Underwriter | June 24, 2016
4 min read
Less than a week after a survey commissioned by the Financial Services Commission of Ontario found that only 10% of Ontario drivers reported being “very knowledgeable” about the elements in a standard auto policy, a new poll has found that many Quebecers do not understand how their auto insurance works. The study, released on Tuesday, […]
By Canadian Underwriter | June 21, 2016
The Ontario government should establish a new organization that would perform the functions currently performed by the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO) but also have a “specific fraud-deterrence mandate,” an expert advisory panel said in a report released Monday. FSCO regulates auto insurance rates in Ontario. […]
By Canadian Underwriter | June 20, 2016
CAA Insurance Company announced on Thursday that it has appointed 17 “well-known and experienced brokerage firms across Ontario” to provide its customers with more choice. “The decision to enter the broker market was a simple one,” said Matthew Turack, president of CAA Insurance Company said in a press release. “What distinguishes our unique approach from […]
By Canadian Underwriter | June 16, 2016
WASHINGTON – The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market and offering no hints of when its next rate hike might occur. The Fed noted in a statement Wednesday after its latest policy meeting that the pace of job growth has slowed even as the overall economy has […]
By Jason Contant | June 15, 2016
The Minister responsible for Saskatchewan Government Insurance (SGI), Don McMorris, has introduced more than 20 amendments to The Automobile Accident Insurance Act that the government says will improve Saskatchewan’s auto injury programs to better meet the needs of people who are injured in vehicle collisions. McMorris introduced the amendments in the Legislative Assembly of Saskatchewan […]
By Canadian Underwriter | June 15, 2016
3 min read
Only 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released on Wednesday, found that while 75% of Ontarians who have auto insurance state that they […]
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.
