The Chronicle: Issue 2016-29, July 19, 2016
What's Going Through The Intersection of Insurance and Technology?
Marketing Disruption – The Future of the Insurance Promise
Business of Insurance
Munich Re: Storms drive up losses in the first half of 2016
Losses caused by natural catastrophes in the first half of 2016 were significantly higher than the corresponding figures for the previous year, according to a review by Munich Re.
Willis Towers Watson releases latest CLIPS Canada survey
Commercial insurance prices were again nearly flat during the first quarter of 2016, according to Willis Towers Watson's most recent Commercial Lines Insurance Pricing Survey.
Aon launches enhanced ELEMENTS 10 platform
Impact Forecasting, Aon Benfield's catastrophe model development team, has launched ELEMENTS 10 – its complete catastrophe modelling platform to enhance strategic business decisions. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc.
Chubb introduces new insurance product for private companies
Chubb has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious business environment.
Northbridge Financial Corporation helps small businesses with legal expense insurance
DAS Canada is proud to announce a new partnership with Northbridge Financial Corporation to protect small businesses from legal expense exposures.
GCIA: Global commercial insurers join forces in Canada
A number of foreign-owned commercial insurers operating in Canada have come together to form the Global Commercial Insurers Association (GCIA).
iA Financial Group has acquired BMO Group Retirement Services Inc.
iA Financial Group has completed the acquisition of BMO Group Retirement Services Inc., the former BMO Financial Group subsidiary offering recordkeeping and administrative services for group retirement plans.
AssuredPartners announces acquisition of LJ Stein & Company, Inc.
AssuredPartners, Inc. is proud to announce the acquisition of LJ Stein & Company, Inc. of Lakewood, NY. With offices in Northern Appalachia and Western Canada, LJ Stein is a leading specialty insurance broker for the North American oil & natural gas industry.
Willis Towers Watson highlights 2016Q2 activity in latest ILS report
One billion dollars of of non-life catastrophe bond capacity brought total market issuance for the first half of 2016 to USD 2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory.
“Turning Canadian Insurance Outside-In”: 2016 Executive Forum
Tuesday, August 30, 2016, at the Sheraton Centre Toronto Hotel
Sonnet – Economical's first direct offering – was intended from its conception to be much more than an on-line experience. Using first- and third-party data, analytics, and modern technology, Sonnet is designed to provide personally customized insurance coverage with a minimum of effort by the customer.
Economical Insurance CMO Michael Shostak and CIO Alice Keung will describe the path taken, challenges encountered, and the future outlook at ICEF2016.
Register now to discover how insurance looks “outside-in.” Explore thought leadership and share ideas with one of our sponsors, such as:
ICEF2016 Sponsors include:
Novarica: Telematics and UBI face market limits
Telematics and usage-based insurance is becoming mainstream at insurers. A focus on services-based programs, and not discounts, will be a crucial differentiator as insurers look to increase customer adoption and market growth.
Global Risk Institute releases new report on climate change
Global warming adds significant new risks for the world's banks, insurers and pension funds, warns a new study by the Global Risk Institute.
Chubb announces catastrophe loss estimates for second quarter
Chubb Limited has announced an estimate of natural catastrophe losses, in the second quarter, net of reinsurance and including reinstatement premiums, of USD 390 million pre-tax, or USD 315 million after tax. Of the pre-tax total, $320 million is from natural catastrophes in North America.
Alberta begins technical consultation on private auto insurance regulations
A targeted stakeholder consultation is underway to gather evidence-based information to inform potential technical changes to regulations governing the private insurance system in Alberta.
Ontario building Electric Vehicle charging network
Ontario is building almost 500 electric vehicle charging stations at over 250 convenient locations across the province to help reduce greenhouse gas pollution and fight climate change.
Saskatchewan announces Flood Recovery Centre in Estevan
A temporary Provincial Disaster Assistance Program (PDAP) flood recovery centre will open in Estevan, Saskatchewan, to provide immediate support and advice to residents affected by recent severe weather and flooding.
Allstate: Are your vacation selfies putting you at risk?
While Canadians look forward to the summer months and vacations, many are unwittingly putting their homes at risk by posting their absences or whereabouts on the internet, according to the results of a new Allstate Insurance survey.
Higher summer temperatures in the northern hemisphere seem to have a direct correlation with human turmoil. Recent weeks have seen a rash of activity and atrocity: floods, fires, terrorist attacks including the carnage in Nice, a coup attempt in Turkey, and shootings and retaliation between police forces and minority groups in the United States.
Is it possible that this is not all that unusual, but that our awareness has been dramatically increased by the immediacy of it all due to the social media revolution? How is your stress level?
Our news stories this week follow the pattern with several on climate change and catastrophes. Thank goodness for some more upbeat news as well in our industry – M&A, innovation, and telematics.