Industry
Aon Benfield, a global reinsurance intermediary and capital advisor of Aon plc, has launched its Welcome to Pacific guide, which examines sixteen of the region’s growing insurance and reinsurance markets to identify growth opportunities. “As rapid economic development, population growth and urbanization lead to increased insurance penetration, Asia Pacific represents a key area of growth […]
By Canadian Underwriter | March 5, 2015
2 min read
Saskatchewan’s Minister of Justice and Attorney General has introduced Bill 177, which will implement the new Insurance Act and repeal the Saskatchewan Insurance Act. The bill contains significant changes to address market conduct and unfair practices, among other items. Bill 177, An Act respecting Insurance and Insurers and making consequential amendments to other Acts and […]
Google Compare Auto Insurance launched on Thursday, which the company billed as “an easier way to shop for car insurance.” According to Google, “the launch represents the newest addition to a suite of Google Compare products designed to help people make confident, more informed financial decisions.” Google teamed up with insurance providers, including Mercury Insurance, […]
3 min read
French reinsurer SCOR SE released Thursday its financial results for 2014, reporting a 2.7% increase in gross written premiums in global property & casualty, a 2.5-point drop in its combined ratio and a 6.7% decline in net income. The combined ratio, in p&c, for Paris-based SCOR dropped 2.5 points, from 93.9% in 2013 to 91.4% […]
FORT SASKATCHEWAN, Alta. – Fire crews are trying to determine what kind of gas is leaking in an industrial area east of Edmonton following what is being called a small pipeline breach and explosion. Fire Chief James Clark says no one was hurt in the blast that happened just before noon along Highway 15 in […]
By The Canadian Press | March 4, 2015
1 min read
A study from global consulting firm Protiviti said that while many organizations rate themselves as less than “very effective” at addressing their cybersecurity risks, the results are significantly better for organizations in which the board of directors has a high level of engagement with information security risks, and those that include cybersecurity in the annual […]
By Canadian Underwriter | March 4, 2015
Third-party security is a top business concern for enterprises, but there is a steep disconnect in resources available to adequately and objectively manage this security, suggested a new study released on Tuesday. Security ratings company BitSight Technologies released the commissioned study, Continuous Third-Party Security Monitoring Powers Business Objectives and Vendor Accountability. It was conducted by […]
Totten Insurance Group, a national insurance managing general agency, announced on Wednesday that it has acquired the shares of National Brokerage Services S.C.N. Inc. (NBS), a Montreal-based commercial insurance wholesaler. The strategic acquisition expands Totten Group’s footprint in the Canadian marketplace and further defines its specialization in underwriting service in key industry segments, the company, […]
Unica Insurance Inc. and Independent Broker Resources Inc. (IBRI) announced Tuesday that Unica is endorsing Fleetadvisor, a commercial auto insurance product announced by IBRI in January. IBRI, a subsidiary of the Insurance Brokers Association of Ontario (IBAO), announced in 2013 a partnership with Quindell Portfolio Plc to offer insurance based on telematics technology. Telematics lets […]
By Canadian Underwriter | March 3, 2015
A report from Strategy Meets Action (SMA), an insurance strategic advisory firm, has found that insurer IT spending is set to increase almost 5% this year over 2014. The annual research report, 2015 Insurance Technology Priorities and Spending, is based on a survey of 105 North American insurance business and technology executives and ongoing observations […]
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