British Columbia’s Ministry of Transportation and Infrastructure is advising drivers in Metro Vancouver that “work is well underway” to prepare the Alex Fraser and Port Mann bridges for a snowfall expected later Thursday. On Tuesday, the Canadian Press reported that transportation minister Todd Stone said that “more needs to be done” to prevent chunks of […]
By Canadian Underwriter | December 8, 2016
3 min read
The continued consolidation in both the insurance broker and carrier spaces in Canada could create an absence of mid-sized players, a speaker suggested on Wednesday at KPMG’s 25th Annual Insurance Conference in Toronto. “You could see a creation of an absence of mid-sized players, where there is a move to smaller, regional niche players and […]
By Jason Contant | December 7, 2016
3 min read
Large-format lithium-ion batteries, such as those used in electric cars, tend to ignite more quickly in a warehouse fire and generally present a higher hazard than small-format batteries used in smartphones and laptops, according to new research. FM Global, one of the world’s largest commercial property insurers, released the results of its newly conducted research […]
By Canadian Underwriter | December 7, 2016
3 min read
The biggest changes for insurers in 2017 could come from product innovation, predictive analytics, cybersecurity and digital distribution, according to a new executive brief from Boston-based research and advisory firm Novarica. Released on Tuesday, the report, titled Five Potential Changes in 2017 for Insurance, details the areas where insurers see “real change” is likely next […]
By Canadian Underwriter | December 6, 2016
2 min read
OTTAWA – Publicity about near-misses between drones and passenger aircraft might give terrorists ideas about how to take down a plane, a federal intelligence report warns. The Transport Canada report obtained by The Canadian Press also suggests small unmanned aerial vehicles, or UAVs, could easily be used for advance surveillance of targets. The report tempers […]
By Jason Contant | December 5, 2016
3 min read
Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage. “This is consistent with Swiss Re’s top priority of meeting its financial targets over the […]
By Canadian Underwriter | December 2, 2016
3 min read
More than a quarter of polled small and medium-sized enterprises (SMEs) in the United Kingdom reported being hit with an unexpected £50,000 bill would put them out of business, notes a new report released this week by RSA. And while the lion’s share of SMEs polled this past September – 73% – recognize there are […]
By Canadian Underwriter | December 2, 2016
5 min read
Incumbent insurers need to understand the “ABCs” of insurtech – Analytics Arms Dealers, Beneficial Bots, Creative Carriers and Digital Distributors – to get a better grasp of the space, according to a new executive brief from Boston-based research and advisory firm Novarica. “Analytics Arms Dealers and Beneficial Bots have the potential to help insurers transform […]
By Canadian Underwriter | December 1, 2016
2 min read
Mobile adoption is high among U.S. Millennials when it comes to retail banking, but so too is the likelihood of visiting a teller or calling a contact centre, reveals new research released Thursday by New York-based Bain & Company Inc. In fact, 86% of Millennials taking part in the survey of 5,300 banking consumers south […]
By Canadian Underwriter | December 1, 2016
4 min read
The global aerospace insurance market will decline at a compound annual growth rate of -0.37% during the period from 2016 to 2020, according to a new report from Research and Markets. The Global Aerospace Insurance Market 2016-2020 report, released on Wednesday, encompasses insurance policies designed for airlines, airports and their operations, as well as other […]
By Canadian Underwriter | November 30, 2016
2 min read