Industry
Export Development Canada (EDC) has introduced a new online version of its credit insurance product, enabling Canadian companies to insure their sales to United States or foreign buyers in minutes. “Canadian companies can now apply, receive a quote, accept and pay for their credit insurance, and do it all online,” says Clive Witter, senior vice […]
By Canadian Underwriter | January 15, 2015
2 min read
Advanced analytics for better decision-making and product development has been identified as a top business and technology trend for the reinsurance industry, notes a new report from research and advisory firm Novarica. The reinsurance industry is facing challenging conditions and, as such, reinsurers need to adapt and come up with creative solutions, notes a statement […]
By Canadian Underwriter | January 14, 2015
Burns & Wilcox Canada has announced its acquisition of Avec Insurance Managers, a Toronto-based managing general agent. Avec specializes in marine, inland marine and other specialty commercial lines. The company will become part of Burns & Wilcox Canada, a subsidiary of Kaufman Financial Group. “Burns & Wilcox Canada is one of our fastest growing companies […]
The Insurance Brokers Association of Ontario (IBAO) announced Tuesday it has an affinity partnership with electronic signature vendor Silanis Inc., which makes e-SignLive. “With this partnership, brokers will benefit from tailored pricing for an electronic signature solution chosen to address the unique needs of insurance brokers in Ontario ” IBAO stated in a press release. […]
By Canadian Underwriter | January 13, 2015
Calgary-based insurance brokerage InsureMy Ltd. has launched a new “Time Based Insurance (TBI)” product for commercial drivers and fleets in Alberta and Ontario, which the firm says is the first in Canada. The offering uses telematics technology from Intelligent Mechatronic Systems (IMS) (the DriveSync product), allowing fleet operators and managers to receive insurance premium refunds […]
1 min read
Google Inc. “could be piloting its Google Compare auto insurance comparison shopping site” in the United States, an analyst for Forrester Research Inc. recently speculated, though the search engine firm does not currently provide advice to British auto insurance consumers. Currently, Mountain View Calif.-based Google operates Google Compare for British consumers. Google Compare is “the […]
By Canadian Underwriter | January 9, 2015
XL Group plc is seeking to acquire all capital stock of Catlin Group Limited, a move that, if approved, will create a combined business expected to have a leading presence in the global specialty insurance and reinsurance markets. XL Group announced Friday that it has entered into an agreement under which it will offer to […]
4 min read
The Insurance Brokers Association of Ontario (IBAO) announced Thursday that Michael Brattman has been elected as the association’s 72nd president. Brattman was officially inducted at the IBAO Convention held in Ottawa in October, and formally assumed his role as president on Jan. 1. Related: Profile – Evolving with Customers Brattman is a partner and vice president of […]
By Canadian Underwriter | January 8, 2015
Allianz Worldwide Partners and The Co-operators Group have completed the merger of their respective Canadian travel insurance companies to create one of the largest travel insurance providers in the country, notes a joint statement issued Thursday. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators, first announced in September, has created the […]
Claims supervisors at U.S. property and casualty insurance companies often have misplaced focus and could be spending more time reviewing their claim handlers’ files, according to a new survey report from Towers Watson. Chief claims officers typically budget for supervisors to spend two to six hours on reviewing their direct reports’ files, suggest the results […]
By Canadian Underwriter | January 7, 2015
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