Industry
Ontario’s ruling Liberals suggest that immediate action is needed on greenhouse gas reduction due to extreme weather caused by climate change, but opposition politicians are characterizing the proposed cap-and-trade system as a “slush fund.” Bill 172, Climate Change Mitigation and Low-carbon Economy Act, 2016, is before the Ontario legislature for second reading. Debate on the […]
By Canadian Underwriter | March 9, 2016
4 min read
OTTAWA – The Bank of Canada is sticking with its key interest rate as it waits to assess economy-boosting measures expected in the upcoming federal budget. The central bank kept its trend-setting interest rate locked at 0.5 per cent in its scheduled announcement. The bank says while stubbornly low oil prices continue to hurt the […]
2 min read
John Q. Doyle will be president of Marsh Inc. effective April 15, the New York City-based commercial brokerage announced Monday. American International Group Inc. announced December 10 that Doyle – then chief executive officer for commercial insurance at AIG – would be leaving the company. Doyle will report to Marsh CEO Peter Zaffino and will […]
By Canadian Underwriter | March 8, 2016
Financial stress among Canadian mining and metals companies drove transactions to a decade-long low in 2015 and that environment is expected to shape the sector’s merger and acquisition (M&A) activity in 2016, Ernst & Young suggests in a recent report. Divestments are picking up pace on the back of volatility and uncertainty on the timing […]
VANCOUVER – Prime Minister Justin Trudeau and the provincial premiers managed to bridge deep divides over carbon pricing Thursday en route to Canada’s first national consensus on pursuing climate policy. But the deal hammered out in Vancouver by Trudeau and 13 provincial and territorial leaders appears destined to be relitigated in the months ahead as […]
By Canadian Underwriter | March 4, 2016
The Centre for Study of Insurance Operations (CSIO) announced on Friday that United Kingdom-based insurance software provider Insly Ltd. has achieved CSIO certification for its personal lines eDocs solution. Insly was introduced to the Canadian P&C insurance market through the help of Port Coquitlam, British Columbia-based InsureLine. “When we brought Insly to Canada, we recognized […]
Trillium Mutual Insurance Company has partnered with The Boiler Inspection and Insurance Company of Canada (HSB BI&I) to launch two new products for small to medium-sized commercial and agricultural operations. Providing indemnity for first-party expenses and third-party costs of defence, settlement and judgment, the Data Compromise Coverage “helps businesses notify and assist affected individuals following […]
1 min read
Surveyed enterprises in the United States suggest that security of the cloud infrastructure figures prominently as both a benefit and a challenge, suggests a new poll conducted by B2B research firm Clutch. Medium and large enterprises appear to have mixed feelings about cloud infrastructure security, with 22% of respondent enterprises ranking security as the number […]
3 min read
Representing one of the few bright spots in the U.S. property and casualty market growth over recent years, small commercial insurance has become the focus of intense competition that is expected to intensify in the near future, suggests a report released Thursday by McKinsey & Company. It is anticipated this ramping up over the next […]
By Canadian Underwriter | March 3, 2016
Gore Mutual Insurance Company announced on Wednesday that it has made a capital investment in Toronto-based technology start-up Brokerlift Inc., an eCommerce platform designed specifically to enable brokers to compete effectively with other online distribution channels. As part of their investment, Gore Mutual has “negotiated an incentive for its broker network to receive full BrokerLift […]
By Canadian Underwriter | March 2, 2016
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