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Aviva Canada announces the Aviva Community Fund is back for eighth year

For the eighth consecutive year, Aviva Canada has put a call out to organizations looking to make a positive difference with this year’s launch of the $1 million Aviva Community Fund. As part of the fund, the insurer will again donate $1 million toward efforts designed to create positive change in communities across the country, […]

By Canadian Underwriter | June 14, 2016

2 min read

Board of directors dismissed at Alberta’s Agriculture Financial Services Corp.

EDMONTON – The Alberta government has sacked the board of a Crown corporation following a report that said there were procurement violations and lavish spending by executives that included golf trips, limo rides, and luxury seats to the Edmonton Oilers. “I’ve lost the confidence in that board,” Agriculture Minister Oneil Carlier told a legislature news […]

By Jason Contant | June 14, 2016

3 min read

Drastic measures needed if insurance sector is to reinvent itself: KPMG report

Only half of global insurers polled believe that they are capable of extracting and sustaining value from business transformation initiatives, with 57% admitting that their transformation efforts to date have been “less than successful,” according to a new report from KPMG International. The KPMG report, through Forbes Insights, was released on Monday. KPMG surveyed more […]

By Canadian Underwriter | June 13, 2016

3 min read

Zurich Insurance Group reshapes company, creates chief operating officer role

Zurich Insurance Group announced on Friday a reshaping of the company, which includes the creation of the new role of chief operating officer (COO) and a move to a “simpler, more customer-oriented structure.” “Over the coming months, the business will move to a simpler, more customer-oriented structure, reducing complexity, creating greater accountability and empowering teams […]

By Canadian Underwriter | June 10, 2016

2 min read

Increasing adoption of cloud services primary driver of growth in global critical infrastructure protection market: research

The increased adoption of cloud-based services among enterprises is the primary driver for growth in the global critical infrastructure protection market, according to global market research company Technavio. Research analysts at Technavio predicted on Wednesday that the global critical infrastructure protection market – which includes technology (cyber and physical security) and physical security (software, alarms […]

2 min read

MGB Claims Consultants announces acquisition of ProFormance Group Insurance Solutions

MGB Claims Consultants Inc. announced on Wednesday that it has acquired ProFormance Group Insurance Solutions Inc. “as part of an overall strategy for expansion to better service our clients and strengthen our presence in both the Lloyds of London and Canadian marketplace.” Based in Pickering, Ont. and founded in 2008, ProFormance Group provides third party […]

1 min read

Risk managers sometimes overlook ‘positive side of risk:’ RIMS report

Organizations need to take some risks, and risk managers need to understand the value of taking such risks, Risk and Insurance Management Society Inc. (RIMS) said in a report announced Tuesday. “Usually risk is defined as the possibility of loss or injury, but the idea of risk is more complicated that than,” wrote Jessica Wasserman, […]

2 min read

60% of digital businesses will suffer major service failures by 2020 due to inability to manage digital risk: Gartner

Sixty per cent of digital businesses will suffer major service failures by 2020 due to the inability of IT security teams to manage digital risk, according to a special report from Gartner, Inc., an information technology research and advisory company. As organizations transition to digital business, a lack of directly owned infrastructure and services outside […]

3 min read

Sedgwick and subsidiary Vericlaim expand operations in Canadian market

Sedgwick Claims Management Services, Inc. and its subsidiary Vericlaim announced on Wednesday that they will expand their services available in the Canadian market. In addition to Sedgwick’s existing third-party administration (TPA) operations, the companies will offer high-quality claims administration and adjusting services designed to meet the specific needs of the Canadian market in the areas […]

2 min read

Insurance Brokers Association of Ontario searching for new CEO after departure of Jim Murphy

The Insurance Brokers Association of Ontario’s (IBAO) executive committee announced on Wednesday that Jim Murphy has moved on from his role as CEO of IBAO, effective immediately. “This is an important time for IBAO,” Michael Brattman, IBAO chair, said in a brief statement. “The broker channel faces several exciting developments, including innovation, product reform and […]

1 min read