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45% of global insurers believe that connected devices will be driver of revenue growth in the next three years: Accenture

Insurers are accelerating their plans to become more digital, driven by increased adoption of Internet of Things (IoT) technologies, data and analytics tools and digital-first distribution models, according to a report released on Wednesday by global professional services company Accenture. The report, titled Reimagining insurance distribution: Insurers accelerate the shift to a radically different distribution […]

By Canadian Underwriter | December 9, 2015

4 min read

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BrokerLink acquires three brokerages, enhances Ontario presence

BrokerLink announced Friday that it has acquired three full-service insurance brokerages operating in Ontario – Northwest Insurance Group Inc., McGregor-Miller Insurance Brokers Ltd. and Gray Insurance Brokers Inc. The three brokerages, which have a total of nine offices, will be integrated into BrokerLink, thereby increasing the existing network of Ontario offices to 78. The terms […]

By Canadian Underwriter | December 4, 2015

2 min read

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Grandisson next president of Arch Capital

Bermuda insurer Arch Capital Group Ltd. announced Wednesday it has promoted Marc Grandisson to the position of president and chief operating officer effective Jan. 1. Grandisson is currently chairman and chief executive officer of Arch Worldwide Reinsurance and Mortgage Groups. Hamilton, Bermuda-based Arch writes specialty commercial insurance, as well as reinsurance. It owns Toronto-based Arch […]

By Canadian Underwriter | November 11, 2015

2 min read

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Toronto Insurance Conference approaching IBAC on declaration of emergency endorsement

After running into some “brick walls” on getting buy-in from Canadian insurers to include a declaration of emergency endorsement into their commercial property & casualty policies, the Toronto Insurance Conference is asking a former president to raise the issue with the Insurance Brokers Association of Canada (IBAC). “The TIC had worked on the declaration of […]

By Canadian Underwriter | October 26, 2015

3 min read

Airbnb introduces a broader insurance coverage policy for Canadians

TORONTO – Airbnb is adding a new level of insurance coverage in Canada as part of wider support for people who list their properties through its service. The online accommodation provider announced Thursday that its Host Protection Insurance program, which launched earlier this year in the United States, would be rolled out in 15 more […]

2 min read

ACE shareholders vote to approve acquisition of Chubb

ACE Limited shareholders have voted at a special meeting to approve all proposals related to the company’s previously announced agreement to acquire The Chubb Corporation, ACE announced on Thursday. ACE reported that votes in favour of each agenda item exceeded 98% of the total represented and cast. The matters approved included the proposal to change […]

2 min read

U.S. property and casualty insurers’ net income up US$5 billion in the first half of 2015 from same time last year: ISO

Private U.S. property & casualty insurers’ net income after taxes grew to US$31 billion in the first half of 2015 from US$26 billion in the first half of 2014, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus growing to 9.2% from 7.8%, according to a report from ISO […]

2 min read

Report by cybersecurity firm points to continued hacking on US companies despite China pledge

WASHINGTON – Chinese hacking attempts on American corporate intellectual property have occurred with regularity over the past three weeks, suggesting that China almost immediately began violating its newly minted cyberagreement with the United States, according to a newly published analysis by a cybersecurity company with close ties to the U.S. government. The Irvine, California-based company, […]

3 min read

U.S. p&c industry posts improved underwriting results and net income through the first half of 2015: A.M. Best

The United States’ property and casualty industry posted improved underwriting results and net income through the first six months of 2015, according to a special report released on Monday by ratings agency A.M. Best Company. The Best Special Report, titled P/C Industry posts improved underwriting results and net income during first half of 2015, also […]

2 min read

SGI certified eDocs for commercial lines

Saskatchewan Government Insurance (SGI) has obtained eDocs certification for commercial lines, the Centre for Study of Insurance Operations (CSIO) announced. EDocs is intended to help brokers save time by letting them download policy documents directly from carriers’ computer systems to their broker management systems, and to store those documents in their BMSs without manual intervention. […]

2 min read