Industry
The Insurance Institute for Highway Safety announced Thursday five additional vehicles have earned the Top Safety Pick+ award and Honda Motor Co.’s Civic is the first small vehicle to attain the designation. To be named a Top Safety Pick+, a vehicle would have to be assessed as having good occupant protection in at least four […]
By Canadian Underwriter | March 8, 2013
3 min read
Many security leaders at Canadian firms say they fear that not knowing about a cyber breach doesn’t mean one hasn’t occurred, leading to concerns around brand reputation, notes a new report from Telus and the Rotman School of Management at the University of Toronto. The Canadian IT Security study took a qualitative approach to its […]
2 min read
Mobile communications company Vodafone and Towers Watson have launched a telematics program, aimed at speeding up the development of usage based insurance offerings outside of North America. United Kingdom insurance company AIG Europe Limited, part of the international group AIG, has signed up to run a pilot, the companies confirmed. The companies are combining Vodafone […]
Boston consulting firm Strategy Meets Action released this week the results of a recent survey of property and casualty insurance firms, suggesting that despite technologies linking the computer systems of brokers and agents with those of carriers, many workers are still having to type in the same data more than once. “Both agents/brokers and insurers […]
The Insurance Brokers Association of Canada (IBAC) has announced that Intact Insurance has maintained its support of the Broker Identity Program (BIP) at the Full Partner level, IBAC’s branding program aimed at conveying the value of the broker channel. The program aims to market the alue that insurance brokers bring their clients including choice, coverage, […]
By Canadian Underwriter | March 7, 2013
1 min read
Technology giant SAP announced Thursday plans to acquire Toronto’s Camilion Solutions, a provider of insurance product development, product lifecycle and underwriting products and services aimed at helping insurance companies get to market faster. The acquisition will broaden SAP’s presence in the insurance space, the company noted in a statement. With the transaction, SAP is targeting outdated […]
Aviva plc released Thursday its financial results for 2012, recording a worldwide after-tax loss of 3.05 billion pounds, with a 276-million pound operating profit in Canada. “Our general insurance business in Canada delivered another strong performance with an improvement in the combined operating ratio to 93% (2011: 95%) and a 9% increase in operating profits” to […]
Insurance software provider Applied Systems has announced an agreement to acquire the property and casualty business of IVANS, a data exchange solution provider based in the United States, for an undisclosed amount. “Applied Systems has a longstanding partnership with IVANS and was the first technology provider to assist in the development of IVANS’ open platform […]
Prince Edward Island has increased the levy charged to companies providing auto insurance to more than $32 per vehicle to help with recovering health care costs associated with auto accident victims. It is anticipated the increase, which took effect Jan. 1, will raise approximately $1 to $1.2 million annually, says Robert Bradley, PEI’s superintendent of […]
Sixty-five percent of polled organizations report being extremely concerned or concerned about a cyber attack in 2013, notes a new survey from the Business Continuity Institute (BCI) and the British Standards Institution (BSI). Horizon Scan 2013 Survey Report, released earlier this year, involved 730 organizations from sectors ranging from financial services to public administration, defence, […]
By Canadian Underwriter | March 6, 2013
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