Industry
Guy Carpenter & Company, LLC has announced the availability of a new version of its risk and capital management decision-making tool, changes to which will provide users with greater flexibility and detailed reports. MetaRisk 8’s new reporting and catastrophe modelling enhancements will provide expanded reports and database outputs that can be incorporated into other systems […]
By Canadian Underwriter | June 25, 2015
1 min read
NEW YORK – Ford is following the ride-sharing craze, launching its own pilot program in six U.S. cities and in London. Under the program, customers who finance their vehicles through Ford Motor Credit will be able to rent their vehicle to pre-screened drivers for short-term use, helping to defray some monthly vehicle ownership costs. “As […]
By The Canadian Press | June 24, 2015
2 min read
Insurance provider Aviva Canada announced on Tuesday that the Aviva Community Fund is returning on Sept. 15 for the seventh year in a row. This year’s competition has been changed to help make it easier to win funding, Aviva Canada said in a press release. Specifically, the rounds of voting have been reduced to one, […]
By Canadian Underwriter | June 24, 2015
Traditional insurance providers should not overlook how data analytics can be used to transform customer satisfaction, but are not fully leveraging the data they already have, suggests a new report from Capgemini Consulting. Released Tuesday, Fixing the Insurance Industry: How Big Data Can Transform Customer Satisfaction notes that 46% of surveyed insurance companies believe not […]
5 min read
The Centre for Study of Insurance Operations (CSIO) announced earlier this week eDelivery, a new solution that allows broker and insurer members to leverage CSIOnet and eDocs to deliver personal lines policy documents to insureds through Canada Post’s epost platform. An epost digital mailbox allows users to conveniently manage their financial documents in one place […]
Total direct premiums written for the global insurance industry in 2014 were up 3.7% to US$4,778 billion after having stagnated the previous year, according to Swiss Re’s latest sigma study. Released on Wednesday, the study, World Insurance in 2014: back to life, said that the global insurance industry gained momentum in 2014, even though the […]
3 min read
Jones Brown Inc.’s acquisition of Hamilton, Ontario-based Pearson Dunn Insurance Inc. for an undisclosed amount, designed to strengthen both businesses, will double business operations in southern Ontario. By joining forces with Pearson Dunn, established in 1895, Jones Brown, a private Canadian insurance consulting and brokerage business, reports the combined firm will gain a strategic foothold […]
Most lines of property and casualty insurance in the United States will likely experience weaker pricing in 2015 than in 2014, Moody’s Investors Service notes in a new report released Tuesday. In its annual p&c insurance survey, US P&C Insurance Survey: Inflection Point for Commercial Liability; Property Turns Negative, the credit ratings company notes pricing […]
Canada is among the oil-dependent economies that are suffering from the effects of lower oil prices, prompting global credit insurer Coface to place the country on its negative watch list. “Canada’s A1 country assessment has been placed under negative watch, due to the impact of the decline in oil prices on investment, the risks weighing […]
By Canadian Underwriter | June 23, 2015
BMS Canada Risk Services (BMS Canada), the Canadian arm of the independent specialist insurance and reinsurance broker BMS Group Ltd., announced on Tuesday the launch of a specialist managing general agent (MGA), Lions Gate Underwriting. Lions Gate Underwriting is a Lloyd’s coverholder and underwrites on behalf of large A rated global insurers and its products […]
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