Industry
The world’s 10 largest economies account for half of the US$445 billion that cyber crime costs the global economy every year, and costs – absent preventive measures – are unlikely to wane in light of a new crop of challenging cyber risks, suggests a new report from Allianz Global Corporate & Specialty (AGCS). Out of […]
By Canadian Underwriter | September 9, 2015
6 min read
More than half the property and casualty insurance brokerages in British Columbia who are members of the Centre for Study of Insurance Operations (CSIO) have a website specifically designed for small screens of mobile devices, only 17% of those in Prince Edward Island do and nearly one in five brokerages in Canada have no website […]
2 min read
TORONTO – Beck Taxi is calling on the City of Toronto to lower the price of a cab fare as taxi companies deal with falling ridership in the face of competition from upstarts like Uber. The Toronto-based taxi company is organizing a petition to submit to the city’s ongoing transportation review asking for more affordable […]
Despite a reduction in catastrophe losses in the first six months of 2015, the combined ratio of the Aon Benfield Aggregate deteriorated by 0.8 points, Aon plc reported Tuesday, though all insurance carriers in that aggregate were profitable. The Aon Benfield Aggregate (ABA) is comprised of 26 publicly-reporting insurers plus Berkshire Hathaway subsidiaries National Indemnity […]
By Canadian Underwriter | September 8, 2015
New survey results from Gartner Inc. show a widening gap forming between organizations already undertaking digital business initiatives and those only in the planning stage, demonstrating a clear need to invest in digital business. Findings from the 2015 Digital Business Survey, released last week, reflect input received by Gartner, which fielded 304 surveys in the […]
3 min read
Northbridge Insurance, a unit of Toronto-based Fairfax Financial Holdings Ltd., has obtained eDocs certification, for commercial lines, from the Centre for Study of Insurance Operations, CSIO announced Tuesday. EDocs is intended to help brokers save time by allowing them to download policy documents directly from a carrier’s computer system to their broker management systems, and […]
1 min read
Archway Insurance, one of Atlantic Canada’s largest independently owned insurance brokerages, announced Tuesday that it has acquired the general insurance business of swanfinancial, which is based in Oxford, N.S. The terms of the transaction, effective October 1, were not disclosed. The move, however, helps position Archway Insurance “as the broker of choice for citizens of […]
A law that could potentially expand production insurance in Ontario offered by Agricorp is now in force, the province announced Saturday. Bill 40, the Agriculture Insurance Act (Amending the Crop Insurance Act, 1996) came into force Sept. 1, the government noted in the Sept. 5 issue of the Ontario Gazette. That law gives the Ontario […]
CALGARY – Nexen Energy is being allowed to reopen some pipelines at an Alberta oilsands operation after provincial regulators suspended the licences for them last month. The Alberta Energy Regulator says that after inspecting Nexen’s Long Lake facility and reviewing documents, it has determined that about 40 utility pipelines that carry fuel gas, natural gas […]
Intact Financial Corp. announced Tuesday it intends to offer “tailored insurance products” for Uber, a service that lets consumers order and pay for passenger transportation. “The intention is to offer and market these products under IFC’s two largest brands – Intact Insurance and belairdirect,” Intact stated in a release, adding the firm is “working closely […]
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