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INSURANCE INDUSTRY NEWS
Risk Management Must Address Shifting Business Volatility: Aon Client Study
Aon plc has announced the results of its 2021 Global Risk Management Survey, which gathers input from thousands of risk managers to identify key risks and challenges their organizations are facing. The past two years have proved to be incredibly volatile, with the global pandemic having had a ripple effect across other types of risk, such as heightened awareness of reputation and cyber, as long-tail risks have become increasingly important to manage.
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Employee-Related Concerns Top of Mind For SMEs
Financial, digital, business interruption and pandemic concerns top the list of macro risks for mid-sized business leaders, according to the second annual Mid-Sized Company Risk Report from QBE North America and the Association for Corporate Growth.
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FRISS Secures Investment From Guidewire
FRISS, the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide, and Guidewire PartnerConnect Solution partner are pleased to announce they have secured an investment from Guidewire, who are adding onto the recently announced Series B led by Accel-KKR.
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CCC Launches Touchless Auto Estimates
CCC Intelligent Solutions Inc., a leading SaaS platform for the P&C insurance economy, is pleased to announce it has made touchless estimating a reality, using advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates in seconds.
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GuideOne National Chooses Relay F1 Platform For Superior Reinsurer Connectivity
Relay Platform is pleased to announce that GuideOne National Insurance Company, one of the most progressive cedents in the United States, has selected their “F1” reinsurance platform as its official electronic placement system to support its facultative arm for all lines of business.
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APOLLO Partners With Orr Development
Apollo Insurance, Canada’s leading online insurance provider, has partnered with Orr Development to offer immediate digital insurance products specifically tailored to the needs of their tenants.
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Top Tips To Reduce Insurance Premiums: IBC
Understanding your insurance policy is an important element of financial literacy. Insurance Bureau of Canada is sharing ways for home, auto and business insurance customers to help lower their rates.
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Navacord Continues To Build In Ontario
Navacord Corp., one of Canada's top commercial insurance brokerages, is pleased to announce the addition of Ives Insurance Brokers Ltd. and Northern Insurance Brokers. Together the two deals deepen Navacord's reach and expand its presence across Ontario.
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RAISE Underwriting To Acquire United Surety
RAISE Underwriting, one of Canada's leading specialty insurance managing general agencies, is pleased to announce it has reached an agreement to acquire United Surety, a Mississauga-based independent MGA. The acquisition is scheduled to close on January 1, 2022.
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CAA MyPace Expands In Ontario
CAA Insurance Company is proud to announce the expansion of Canada's first and only pay-as-you-go auto insurance payment program, CAA MyPace™, in Ontario.
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AcordPay Expands Integrated Payments with Applied Epic
AcordPay, the leading digital payments platform for the insurance industry, has announced that it is expanding its payment integration with Applied Epic. Brokerages will be able to pay vendors, refund premiums to customers, and send other payables from Applied Epic with the ClearPay service functionality enabled.
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StoneRidge Partners With UAI
StoneRidge Insurance Brokers, a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU and an adjusting firm, has entered into a partnership with Underwriters Alliance, Inc. to expand its service offering in group benefits and HR services.
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Global Climate Policy Acceleration Means Sink-Or-Swim Decade For Canada’s Economy
Canada's economy faces a “sink-or-swim” decade, according to the first study to assess Canada's economic prospects in the face of accelerating global market shifts responding to climate change.
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Co-operators Partners With PrevTech Innovations
Canadian farmers can now access a new on-farm fire risk reduction program through Co-operators powered by the latest in detection solutions by PrevTech Innovations Inc. The PrevTech Solution provides electrical monitoring, fault detection and diagnostic services to reduce the risk of fire and operational interruptions on farms caused by electrical faults.
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Westland Acquires New Brokerage In Manitoba
Westland Insurance Group Ltd., Canada’s largest independent Canadian-owned brokerage, is pleased to announce the acquisition of Harvest Insurance, based in Steinbach, Manitoba.
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iA Financial Acquires Majority In Surex
iA Financial Corporation Inc. is pleased to announce the acquisition of 70% of the shares of two Canadian companies specializing in insurance technology: Surexdirect.com Ltd. and Surexdirect.com (Ontario) Ltd. – collectively "Surex." As a leading player in digital Property & Casualty insurance distribution in Canada, Surex combines online self-serve capabilities with experienced advisors.
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AXA Extends Oil And Gas Exclusions
In the run-up to COP26, AXA is extending its commitment to fight climate change and protect biodiversity. AXA has announced several new milestones in its approach to the energy sector by strengthening its existing Oil and Gas exclusions, with a specific focus on unconventional activities and new greenfield explorations.
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Barrie Tornadoes Insured Damage Total Increases
The estimated total insured damage of the six tornadoes that hit the Barrie region on July 15 – resulting in 10 injuries, 71 uninhabitable homes, and more than 2,000 insurance claims – has increased by 25 percent, based on surveys from Catastrophe Indices and Quantification Inc.
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