Industry
Investment in technologies that would enable companies to act on data in real time is out of step with the view expressed by the lion’s share of surveyed Canadian executives who say having that capability is important. This is putting Canadian businesses at risk of falling behind international competitors in the era of big data, […]
By Canadian Underwriter | December 5, 2012
3 min read
The attitude among insurance companies toward implementing the Solvency II directive has become more negative over the past few years, suggests a recent survey from advisory firm Grant Thornton UK. Only 24% of participants said they believe Solvency II is the most appropriate way to run their business, suggests the survey, which was completed in […]
By Canadian Underwriter | December 4, 2012
2 min read
Registration is now open for RIMS 2013 Annual Conference & Exhibition, which will include an improved agenda, RIMS announced Tuesday. RIMS ’13 is scheduled for April 21 to 24 in Los Angeles at the Los Angeles Convention Center. Risk management practitioners, insurance professionals and other industry service providers can now view details about this year’s conference […]
A.M. Best’s Bermuda market is in a position to see a return on equity of slightly better than 10% for this year, the rating agency has noted in a new report. In it’s 2012 Special Report: Bermuda – Market Review, A.M. Best noted that although 2012 won’t see the high level of return seen at […]
A number of complaints over the use of personal financial information by insurance companies in Prince Edward Island – a practice that has resulted in some individuals being denied property or auto coverage insurance – has spurred the development of draft regulations that propose banning the practice. Last week, the PEI government released draft regulations […]
4 min read
The Insurance Bureau of Canada says the Ontario NDP’s consumer affairs critic is cherry picking his facts on auto insurance premiums in the province, after the MPP presented research on the issue Monday. NDP consumer affairs critic and Bramalea-Gore-Malton MPP Jagmeet Singh argued Monday that insurance companies “have been saving 25% per insured driver following […]
By Canadian Underwriter | December 3, 2012
Software maker SAP AG announced Monday it is offering what it calls a “rapid deployment solution” for insurance companies who will need to meet the European Union’s Solvency II reporting standard for capital adequacy and risk management. The product “helps insurers reengineer their reporting processes more quickly,” Walldorf, Germany-based SAP stated in a press release. […]
An association representing 12 auto manufacturers is promoting “driver assist” technologies, such as lane departure and blind spot warnings, with the launch of a YouTube channel “concurrent with” the Los Angeles Auto Show. “More than 90 percent of crashes involve driver error of some kind, so automakers created a range of driver assist systems that […]
Analytical research firm MSA Research is launching a new conference targeted toward brokers, MGAs and insurers involved in the commercial space in Canada. The first Canadian Commercial Insurance Summit (CCIS) will take place June 23 to 25, 2013 in Muskoka, Ont. The event will include expert speakers, breakout sessions and networking opportunities. The CCIS agenda and […]
It's a safe bet that Canada's property and casualty insurers are in for big changes. How dramatic those changes will be, what form they will take and when they will ultimately unfold are expected to fall on many points along the spectrum. Building on hard data and emerging trends, insurance companies are blending old with new as they prepare for all shades of risk.
December 1, 2012
25 min read
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