Industry
OTTAWA – The family car is learning more about who’s behind the wheel – everything from where a driver likes to shop to how hard they brake – as automakers roll out new tech-savvy features. With cars collecting and even sharing more personal data, Canada’s privacy watchdog is quietly trying to ensure manufacturers, retailers and […]
By Canadian Underwriter | January 27, 2016
3 min read
ACE Ltd. and The Chubb Corp. reported net written premiums in property & casualty of $15.715 billion and $12.633 billion respectively in 2015, while the combined ratios for ACE and Chubb were 87.4% and 87.2% respectively. Zurich, Switzerland-based ACE changed its name to Chubb Ltd. on completion Jan. 14 of its $28.3-billion acquisition of Chubb, […]
2 min read
The worldwide public cloud services market is projected to grow 16.5% in 2016 to total US$204 billion, up from US$175 billion in 2015, according to Gartner, Inc., an information technology research and advisory company based in Stamford, Conn. The highest growth will come from cloud system infrastructure services (infrastructure as a service [IaaS]), which is […]
By Canadian Underwriter | January 25, 2016
Aviva Canada announced on Friday that its “long-standing partner in the Quebec market,” Leclerc Insurance and Financial Services, has been appointed Managing General Agent (MGA) in Quebec for its specialty personal lines business underwritten by Elite Insurance Company of Canada. The appointment will take effect April 1, Aviva Canada said in a press release. As […]
By Canadian Underwriter | January 24, 2016
Ross McDougall, CEO of McDougall Insurance and Financial, announced on Thursday that the company has merged with Upper Canada Commercial Insurance Group (UCC) effective immediately. All employees of UCC will remain with the organization and all branch office locations will continue, McDougall said in a press release. “We are particularly pleased that four of the […]
By Canadian Underwriter | January 21, 2016
1 min read
The government of the United Kingdom’s Insurance Fraud Taskforce has recommended tougher regulation of claims management companies (CMC) in the nation. The value of detected fraud in U.K. is in excess of £1 billion and undetected insurance fraud is estimated to cost the nation’s economy more than £2 billion a year, according to the final […]
By Canadian Underwriter | January 20, 2016
The Manitoba and south central Ontario branches of the Canadian Automobile Association (CAA) announced on Tuesday their formal intention to merge. CAA Manitoba and CAA South Central Ontario (CAA SCO) said in a statement from the latter that the proposed merger will occur on Sept. 30, subject to member and regulatory approvals. The two companies […]
By Canadian Underwriter | January 19, 2016
The industrial lines insurer within the Talanx Group is operating under the name HDI Global SE, HDI said in a press release on Friday. The announced renaming of HDI-Gerling Industrie Versicherung AG was successfully completed on Jan. 8, HDI Global, which has a new website, said. The conversion to an SE (Societas Europaea, or European […]
By Canadian Underwriter | January 18, 2016
Worldwide information technology spending is forecast to total US$3.54 trillion dollars in 2016, just a 0.6% increase over 2015 spending of US$3.52 trillion dollars, according to IT research and advisory company Gartner, Inc. Last year saw the largest United States dollar drop in IT spending since Gartner began tracking IT spending. US$216 billion dollars less […]
The property and casualty industry in the United States continued to post favourable underwriting and operating results through the third quarter of 2015, with the combined ratio improving 0.4 points to 97.2 compared with its prior-year mark, ratings firm A.M. Best Company said on Friday. Overall underwriting profits increased 64.4% to US$5.7 billion through Sept. […]
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