HR
The insurance industry may not be known for technological innovation, but there is a future for brokers who are willing to change, speakers said Tuesday during the annual general meeting of the Insurance Brokers of Toronto Region. “The only thing that’s consistent in the insurance industry is change,” said Frank Silla, incoming IBTR president and […]
By Jason Contant | March 29, 2016
3 min read
Tech
Self-driving cars could translate into significantly lower premiums and profits in the long-term for auto insurers as the number of accidents declines dramatically, Moody’s Investors Service said on Tuesday. A new report from Moody’s – titled P&C Insurance – Global: Self-Driving Cars Could Send Auto Insurance Industry Skidding – noted that while self-driving cars will […]
By Canadian Underwriter | March 29, 2016
2 min read
An increasingly uncertain business climate means finance departments have just four to five years to modernize if they are to meet the rising expectations of the organizations they serve, suggests a report issued Tuesday by Deloitte. Chief financial officers (CFOs) “need to unlock the value of their finance teams by shifting them away from generating […]
4 min read
Legal / Regulation
Concerns regarding cyber risk, interest rates and the economy remain prominent among insurers, according to the latest quarterly survey from A.M. Best Company. The Best’s Special Report, released on Thursday, included several hundred responses, representing property and casualty (70.4%), life & annuity (22.2%) and health (5.3%) insurers, with the remaining 2.1% identifying themselves as surety, […]
By Canadian Underwriter | March 28, 2016
A bill proposing to mandate specific levels of insurance for Canadian railway operators – of $1 billion in some cases – was tabled Monday in Ottawa for second reading in the House of Commons. MPs debated Bill C-52, the Safe and Accountable Railway Act, introduced by Conservative Transport Minister Lisa Raitt. Currently, Canada’s Railway Third […]
By Canadian Underwriter | March 31, 2015
LOS ANGELES – Google will build a car without a steering wheel. It doesn’t need one because it drives itself. The two-seater won’t be sold publicly, but Google said Tuesday it hopes by this time next year, 100 prototypes will be on public roads. Though not driving very quickly – the top speed would be […]
By Canadian Underwriter | May 28, 2014
Whether or not federally regulated railway operators should have a specific dollar value of liability insurance limits are among the issues now being explored as part of a public consultation. Stakeholders are also being asked if railway companies should be required to notify their insurer of changes that could mean coverage is no longer adequate.
November 30, 2013
6 min read
GAINFORD, Alta. – CN Rail is defending its safety record after three high-profile derailments involving trains carrying hazardous materials within the space of a month while apologizing for the latest mishap. Thirteen cars on a CN (TSX:CNR) freight train carrying a cargo of oil and liquefied petroleum gas went off the rails near the tiny […]
By Canadian Underwriter | October 20, 2013
TORONTO – BlackBerry Ltd. has signed a deal to be bought by a consortium led by its largest shareholder in a deal valued at U$4.7 billion, the companies announced Monday. The consortium led by Fairfax Financial Holdings. Ltd., a Canadian investment firm primarily focused on the insurance industry, has offered US$9 per share in cash […]
By Canadian Underwriter | September 23, 2013
Canadian-based pipeline operators have several projects under regulatory review on both sides of the border, activity that is not without criticism, especially related to the potential for spills. Insurance officials say pipelines are safer than rail transport, but acknowledge that strikes from vehicles and landslides, fines and historical contamination still present risks for carriers that cover pipeline companies.
July 31, 2013
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