Industry
Telematics will “uber-ize” the auto insurance industry, according to the 2016 edition of a usage-based insurance (UBI) global study by PTOLEMUS Consulting Group, a strategy consulting firm entirely focused on connected vehicle services and the Internet of Things. The 1,000-page telematics insurance market analysis, Usage-based Insurance: Global Study, estimated that by 2020, nearly 100 million […]
By Canadian Underwriter | December 16, 2015
2 min read
TORONTO – Canada’s taxi industry has a new tool in its fight against the rise of Uber. The Ride, a new app launched on Monday, works similarly to Uber by offering passengers a more tech-savvy way to connect with local taxi cab companies. Like Uber, users must open a personal profile and then use the […]
By Canadian Underwriter | December 15, 2015
Economical Insurance is a step closer to an initial public offering of stock. Waterloo, Ont.-based Economical announced Monday its mutual policyholders voted in favour of continuing to the next stage of demutualization. Several other steps are necessary before its demutualization is successful. A meeting for mutual policyholders was held Monday at the Bingemans Conference Centre […]
By Canadian Underwriter | December 14, 2015
3 min read
The Co-operators Group Ltd. announced Monday it has committed $250,000 towards preparing Syrian refugees for employability in Canada and will let its own employees take up to two paid days off a year to volunteer. “The company will be reaching out to organizations offering programs specifically designed to help Syrian refugees integrate by preparing them […]
During the next several years, consumers will add more devices to their personal portfolio rather than consolidating it, predicts IT research and advisory company Gartner, Inc. in a report released on Wednesday. Gartner estimates that in 2016, the installed base of devices will total 7.8 billion units (including wearables, phones, tablets and PCs) and is […]
By Canadian Underwriter | December 9, 2015
One day after Fitch Ratings reported that the insurance market underwriting cycle is turning unfavourable in many commercial market segments in the United States, the ratings firm said that it is maintaining its stable ratings outlook in both the commercial and personal lines sector of the U.S. p&c industry in 2016. The majority of ratings […]
By Canadian Underwriter | December 8, 2015
DETROIT – Fiat Chrysler is recalling more than 121,600 Dodge Dart small cars worldwide – including nearly 12,000 in Canada – because of a defect that could affect their brake systems. The recall affects 2013 and 2014 model year Darts with 2-litre and 2.4-litre engines. FCA says it’s aware of two minor injuries and seven […]
By Canadian Underwriter | December 7, 2015
1 min read
The Insurance Bureau of Canada (IBC), police services and the Alberta Motor Transport Association (AMTA) will discuss the expansion of the cargo theft reporting program to Western Canada on Tuesday in Edmonton. The program will help raise awareness of and combat the growing program of cargo theft, which includes stealing trucks and/or trailers containing merchandise, […]
By Canadian Underwriter | December 4, 2015
The worldwide commercial non-life (P&C) insurance market is set to be worth US$895.1 billion in gross written premiums by 2018, with premiums for commercial liability cover forecast to grow most rapidly, according to a new research study released on Thursday by Finaccord, a market research, publishing and consulting company specializing in financial services. Worldwide, the […]
By Canadian Underwriter | December 3, 2015
V-NEO, a consulting firm specializing in property and casualty and personal insurance, has created an Innovation and Performance Centre totally dedicated to the insurance industry, to be headquartered in Quebec City. V-NEO, announced the creation of the centre, called the first of its kind in North America, on Thursday. The initiative, which represents an investment […]
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