Industry
LOS ANGELES – California state officials released reports Thursday detailing six accidents that involved self-driving car prototypes, reversing a policy that had shielded details of how the next-generation technology is performing during testing on public roads. The disclosure came after The Associated Press successfully argued to the Department of Motor Vehicles that the agency was […]
By Canadian Underwriter | June 18, 2015
4 min read
The global “M&A blizzard” continues and has yet to peak, according to the latest Quarterly Deal Performance Monitor from global professional services company Towers Watson. While the overall volume of mergers and acquisitions remains high in the second quarter of 2015, enthusiasm for “large” and “mega” deals is particularly strong for the third consecutive quarter, […]
2 min read
The reinsurance industry must overcome the current state of “structural crisis” in order to remain relevant, Philipp Wassenberg, president and CEO of Munich Reinsurance Company of Canada, said during a Property Casualty Underwriters Club luncheon and panel discussion held in downtown Toronto Tuesday. “From a reinsurance perspective, but this drives into the insurance perspective as […]
Seven in 10 U.S. insurers are unprepared for the potential disruption caused by autonomous vehicles, suggests a study released on Wednesday by audit, tax and advisory firm KPMG LLP. KPMG surveyed senior U.S. insurance executives whose companies, in aggregate, account for almost US$85 billion in personal and commercial auto premiums, the firm said in a […]
3 min read
U.S.-based Verisk Insurance Solutions has announced a new strategic alliance with Intelligent Mechatronic Systems Inc. of Waterloo, Ontario, a leader in connected-car technology, because of IMS’s “well-defined and proven approach to deploying successful insurance telematics programs worldwide.” The strategic alliance “signifies the extension of IMS strategy to continue offering insurers best-of-class choices for driver analytics […]
Canada’s property and casualty insurance industry seems now to be operating in a micro-cycle type of environment as opposed to hard or soft markets, Brigid Murphy, president and CEO of Travelers Canada, said Tuesday at a luncheon and panel discussion presented by the Property Casualty Underwriters Club. “Is the cycle dead? I actually think it […]
By Canadian Underwriter | June 17, 2015
Abundant capacity and strong competition have contributed to a generally favourable marketplace for buyers of political risk insurance coverage globally as the second half of 2015 approaches, according to a Marsh briefing released on Wednesday. “Despite growing concerns about global political and credit risks and a recent increase in loss notifications – which will likely […]
The federal government introduced Tuesday a bill that proposes to change Canada’s driving-related criminal offences, increasing minimum sentences for drivers who kill people in collisions and taking away the loophole that lets drunk drivers claim they quickly consumed alcohol after they stopped driving. Justice Minister Peter MacKay tabled Bill C-73, the Dangerous and Impaired Driving […]
Enhanced operational efficiency among players in the Canadian property and casualty insurance space – including through disciplined and discerning underwriting – is key in light of emerging competition and a changing landscape, Greg Belton, Toronto-based executive chairman of HKMB Hub International, suggested during a panel discussion in Toronto Tuesday. “The industry is moving around,” Belton […]
5 min read
The global insurance industry is at a “pivotal juncture” as it grapples with changing customer behaviour, new technologies and new distribution and business models, suggests a new report published by PwC on Monday. In 2010, PwC began carrying out scenario analysis of the trends reshaping insurance and what the industry would look like by 2020, […]
By Canadian Underwriter | June 16, 2015
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