Operations
The commercial insurance market in Canada may be starting to see indications of premium rate hardening, Hub International Canada president Tina Osen told Canadian Underwriter recently. “It hasn’t all hit yet, so I want to be clear on that,” Osen said in an interview. “The indicators are certainly pointing that way.” “I would agree with […]
By Jason Contant | October 4, 2018
2 min read
Tech
Buyers are increasingly targeting “differentiated” technology in merger and acquisition (M&A) deals, knowing they are going to be judged on the potential of what they can achieve with the technology they are purchasing. The value of an acquisition will increasingly focus on the upside of the technology the buyer is acquiring, rather than on the […]
By Jason Contant | October 3, 2018
The Co-operators has acquired Robert Poirier & Associés, Courtier d’assurance inc. (Assurance Robert Poirier), a personal and commercial lines brokerage in Gatineau, Que. Guelph, Ont.-based The Co-operators has seen steady growth in Quebec over the past several years, and acquiring this book of business will allow the insurer to expand its distribution system in the […]
A small earthquake that struck Nova Scotia’s western shore Saturday has again highlighted the lack of uptake of earthquake coverage in Atlantic Canada. At about 10:30 a.m. on the morning of Sept. 29, a magnitude-3.1 quake struck off the coast of Mavillette, N.S., between Digby and Yarmouth. Earthquakes Canada reported the quake was “lightly felt” […]
By Jason Contant | October 2, 2018
3 min read
Mergers and acquisitions come with risks for buyers, and one law firm uses machine learning to help clients manage at least some of those risks. One risk to a buyer is when the target company has liabilities – such as taxes, polluted land or contractual obligations to employees. Transactional risk insurance – such as representations […]
By Greg Meckbach | October 1, 2018
HR
Brokers need to know what their client’s habitational lease or contract states about marijuana use to provide their best advice, the Insurance Brokers Association of Ontario said Thursday. Kevin O’Hare, IBAO’s education supervisor and instructional designer, said brokers need to know their client’s dwelling type, particularly whether it’s an apartment or condominium, and what the […]
By Jason Contant | September 28, 2018
Fully autonomous vehicles that communicate with other vehicles and city infrastructure will create a brand new exposure for insurers and municipalities. Traditionally, when there is a pedestrian bodily injury claim from a vehicle accident, there is two parties – the plaintiff (the pedestrian) and the defendant (the driver, who is usually defended by their insurer). […]
Do insurers need to hire the brightest computer programmers and pay through the nose if they want to get the most out of data analytics? Not according to some Insurance Analytics Summit Canada speakers. “People from behavioural science, people from biology – different backgrounds – can form fantastic analytics teams because it’s not about the […]
By Greg Meckbach | September 28, 2018
Law makers and regulators are stopping insurers from using technology that could actually help customers, speakers from two of Canada’s top three property and casualty carriers warn. Insurers have plenty of data that they could potentially use to rate auto, yet are only allowed to use some of them, Baiju Devani, vice president of enterprise […]
By Greg Meckbach | September 27, 2018
Electronic data can be a powerful tool and is not expensive to store, but it’s only useful if you have a strategy behind it, speakers said during this week’s Insurance Analytics Canada Summit. “If you don’t have a data strategy, that’s usually a pretty huge red flag,” said Steve Holder, national strategy executive, analytic ecosystems, […]
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