Industry
Reinsurance companies must pay “significant attention” to ongoing cyber threats, suggests Julie Dickson, the federal government’s superintendent of financial institutions. “The reinsurance industry, like many others, faces ongoing cyber threats, including challenges with data administration and other technology issues,” according to a copy of a speech Dickson was scheduled to give Tuesday at the 58th […]
By Canadian Underwriter | April 2, 2014
2 min read
Canadian drivers are receptive to purchasing usage-based auto insurance policies, fairly in line with other global markets, according to a new survey from professional services firm Towers Watson. More than half (56%) of drivers here said they have a “strong interest” in purchasing a UBI policy, according to the research. A majority (85%) also said […]
Quebec insurer SSQauto has launched a new smartphone app for submitting auto and home insurance claims. The free app includes three modules: the joint report (on the scene of the accident involving two vehicles), the auto insurance claim (one vehicle involved) and the home insurance claim, the company said Tuesday. The app is also available […]
By Canadian Underwriter | April 1, 2014
RSA has obtained the Centre for Study of Insurance Operations (CSIO) eDocs Certification for their branded EZ-Docs solution. “As one of the first carriers to successfully transmit live policy documents to a broker system using CSIOnet, gaining CSIO Certification has been extremely important to us in our journey to deliver a strong service proposition to […]
1 min read
Reinsurance pricing continued to fall almost across the board at the Apr. 1 renewals, with trends observed during the Jan. 1 renewals continuing and showing clear signs of acceleration, Willis Re notes in its 1st View renewals report, released Tuesday. Positive 2013 results for traditional reinsurers and a seemingly unabated supply of capital from third-party […]
3 min read
Mergers and acquisitions activity involving brokerages shows few signs of letting up, looking like it will remain hot to warm over the next year or two before cooling off. Transactions may take the form of insurer to insurer, insurer to broker or broker to broker. But how will this coming together play out in terms of broker independence, distribution, breadth of choice for customers and opportunities for brokers?
By Angela Stelmakowich, Editor | March 31, 2014
13 min read
Insurance Bureau of Canada recently hit gold, celebrating its 50th anniversary earlier this year. In looking back, some issues in Canada's property and casualty industry look familiar, while others do not. Both, however, provide a glimpse of the future and demand sharp alignment with the needs of the insurance industry and consumers.
By Don Forgeron, President & Chief Executive Officer, Insurance Bureau of Canada | March 31, 2014
6 min read
As Saskatoon faces a record year for watermain breaks attributed to temperature fluctuations, a local broker has noticed that carriers are adjusting premiums and deductibles for sewer back-up coverage on some homeowner policies.
By Greg Meckbach, Associate Editor | March 31, 2014
5 min read
Consumers have been added to the mix of insurers and intermediaries looking to the skies and crossing their fingers in hopes of a mild storm season. That may not be surprising, given that it is not uncommon in Alberta for home premiums to have increased 20% to 30% since January.
By Gord Enders, President, Insurance Brokers Association of Alberta and President, Direct-Line Insurance | March 31, 2014
Economical Insurance announced Monday it “welcomed” the federal government’s recent proposal to broaden the cabinet’s power to make regulations on the conversion of mutual insurance companies into companies with common shares. On Friday, federal Conservative MP Peter Van Loan tabled Bill C-31, on behalf of Finance Minister Joe Oliver, in the House of Commons. In […]
By Canadian Underwriter | March 31, 2014
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