Industry
Stratford, Ont.-based broker Rick Orr was recognized Thursday for his “tremendous vision and tireless efforts” in promoting the eDocs information technology standard as his term on the board of directors of the Centre for the Study for Insurance Operations (CSIO) came to an end. Orr “worked tirelessly with the industry to make sure that the […]
By Canadian Underwriter | May 14, 2015
3 min read
PartnerRe Ltd., a commercial insurer and reinsurer which previously agreed to merge with competitor Axis Capital Holdings Ltd., announced this week it “will review” a revised $6.8-billion takeover offer from EXOR S.p.A., an Italian investment firm with a 9.32% stake in PartnerRe. Neither the proposed merger with Axis Capital, nor the takeover offer from EXOR, […]
Regulation and capital standards were seen as the biggest risk challenges facing the insurance industry, according to an Ernst & Young LLP (EY) study of senior risk executives from 20 North American insurance companies. A focus on value creation and regulatory oversight, EY’s fifth annual survey of North American chief risk officers (CROs) and other […]
2 min read
Moore-McLean Insurance Group Ltd. and Pace Motorsport have teamed up to create what is being called the first standalone coverage to protect sports car enthusiasts from exposure to insurance risk when participating in sanctioned track day events in Canada and the United States. The Track Day Insurance Canada package can be purchased online without any […]
In fewer than five years, the use of drones, also known as unmanned aerial vehicles (UAV), could become common practice for almost 40% of businesses, suggests a study released on Wednesday by Munich Re. The survey asked respondents when they think drone use will become common practice for businesses (>60% of U.S. companies using drones): […]
By Canadian Underwriter | May 13, 2015
PHILADELPHIA – Search-and-rescue crews found a body in mangled train cars Wednesday, hours after an Amtrak passenger train derailed and overturned on the nation’s busiest rail corridor. The death toll increased to seven, with more than 200 people injured, some critically. Philadelphia’s mayor said the train’s data recorder has been recovered, but officials warned that […]
Emerging cyber security and fraud risks are prompting the vast majority of surveyed financial services firms to increase their investment in risk management capabilities over the next two years, notes the latest Accenture 2015 Global Risk Management Study. The fourth edition of the study, first published in 2009, is based on responses from 470 senior […]
4 min read
Brokers who figure out customer segmentation will continue to grow, suggested Gerry De Lauro, SVP, Group & Affinity with HUB International Limited at the Analytics for Insurance Canada conference in Toronto on Tuesday. De Lauro said during his presentation – titled Maximize the broker-underwriter relationship to share insights on customer segments and discover new business […]
Insurity, Inc. reports that its acquisition of Montreal-based insurance software firm Oceanwide Inc. will allow it to offer even greater value to existing customers of both companies while strengthening its market position and ability to address the broad needs of domestic and international insurance carriers, MGAs and program administrators. The Oceanwide brand will be retained […]
The death toll from crashes caused by faulty ignition switches in 2.6 million older General Motors small cars has reached 100. The number was updated Monday by attorney Kenneth Feinberg, who was hired by GM to compensate victims. It’s the first acknowledgement by the company that the defective switches have caused at least 100 deaths. […]
By Canadian Underwriter | May 12, 2015
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