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INSURANCE INDUSTRY NEWS
Pandemic Named Top Risk To Financial Stability
The COVID-19 coronavirus pandemic ranks as the greatest threat to global financial stability in 2021, according to a new survey published by The Depository Trust and Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, with nearly one third (31%) of survey respondents citing the pandemic as the top risk, with two thirds (67%) citing it as a top 5 risk.
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U.S. Commercial Insurance Prices Increase Again
U.S. commercial insurance prices again grew significantly in the third quarter of 2020, according to leading global advisory, broking and solutions company Willis Towers Watson's Commercial Lines Insurance Pricing Survey (CLIPS).
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We Must Act Now On Rising Climate Change Costs
A new report from the Canadian Institute for Climate Choices warns that the costs of climate change for Canada are massive and mounting, and recommends substantial increases in adaptation investment and enhanced climate risk disclos
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TD Insurance Launches ‘Buy Online’ Platform
TD Insurance has launched its national 'buy online' platform that offers qualifying Canadians from coast to coast the ability to purchase home and auto insurance policies from the comfort of their home PC or smartphone. TD Insurance is the first insurance group in Canada to offer online services of this kind nationally.
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LowestRates.ca Now Compares Rates From Onlia
Canadians shopping for auto insurance on LowestRates.ca will now be able to compare rates from Onlia, an innovative new digital insurance provider rewarding Canadians for safe driving.
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Quadient, Duck Creek Collaborate To Accelerate Insurers’ CX Management Capabilities
Quadient is pleased to announce it has partnered with Duck Creek Technologies to boost the digital transformation initiatives of insurance organizations by integrating Quadient's customer experience management (CXM) solutions with Duck Creek's Claims management software.
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Intact Launches Work-From-Home Solutions
Many trends have emerged from the COVID-19 pandemic; people are travelling less, working from home and spending more time online. Intact Financial Corporation is offering enhanced protection to give customers working from home increased liability and home coverage, the option to add identity theft coverage and cyber protection, at a discount, as well as free access to mental health and well-being programs for a limited time.
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Billing Working Group Presents Digital Solution
CSIO is pleased to announce that the INNOTECH Billing Working Group has chosen to leverage the existing industry technology infrastructure – CSIOnet and the CSIO eDocs Standard – for its billing notification solution. Utilized by over 2,200 brokerages and all major insurers, their broad industry adoption made these solutions the obvious choice.
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Consumer Cyberboxx ‘Home Edition’ Launched
BOXX Insurance is pleased to announce the launch of its latest cyber product, Cyberboxx Home Edition, designed for consumers and families to help protect against personal cyber threats. Cyberboxx Home Edition is an all-inclusive insurance solution that integrates specialist cyber insurance, incident response and preventive services. Cyberboxx Home membership includes Equifax Consumer Service's premium credit monitoring service. The Insurance element is underwritten by HSB Canada, part of Munich Re.
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NFP Acquires Ogilvy Insurance
NFP, a leading insurance broker and consultant providing employee benefits, property & casualty, retirement, and individual solutions, has announced the acquisition of Montreal-based Ogilvy Insurance in a transaction that closed on Nov. 24.
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Disaster Solutions Services DKI Joins DKI Canada
DKI Canada is proud to announce that Disaster Solutions Services DKI, a leading provider of full-service property restoration in the Sault St. Marie area, has joined DKI Canada.
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Zurich and Farmers Exchanges to buy MetLife’s property and casualty business in U.S.
Zurich Insurance Group subsidiary Farmers Group Inc. (FGI) has agreed to acquire MetLife's property & casualty business in the U.S. together with the Farmers Exchanges. The transaction gives the Farmers Exchanges a truly nationwide presence and access to new distribution channels with the potential to accelerate growth.
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Oracle RMS To Acquire Avanta Insurance
Oracle RMS is pleased to announce the acquisition of Ontario-based Avanta Insurance Inc. Avanta's employees and producers will be retained with the Oracle RMS team.
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GM, Mitchell Launch Collision Repair Network
Mitchell, a leading provider of technology and information solutions to the P&C claims and collision repair industries, and General Motors are pleased to introduce the GM Canada Collision Repair Network. Through the Network, participants can access business and technology resources designed to streamline the repair process, increase consumer confidence and support the safe return of GM vehicles to the road.
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Spending Zero Time On Your Mental Health?
With the pandemic impacting holiday plans, feelings of loneliness and anxiety are bound to take their toll on the mental health of Canadians. A recent survey by Sun Life reveals that nearly 60 per cent of Canadians say the pandemic continues to negatively impact their mental health. Yet, almost half of all Canadians (40%) report they do not spend any time on their mental health each week.
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Liberty Mutual Joins Sustainability Initiative
Liberty Mutual Insurance is pleased to announce that it has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI). Liberty Mutual is the first U.S. Property and Casualty insurer to join the leading international network of institutional investors committed to including ESG factors in their investment decision making.
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