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JUNE 27, 2017

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INSURANCE INDUSTRY NEWS

Canadian Firms Overconfident In Cybersecurity
Two-thirds of Canadian executives expect that data breach attempts will increase, but they may be overconfident about their cybersecurity readiness, according to a new survey conducted by Ovum for analytics firm FICO. Read more.

U.S. P&C Net Income Drops 42.2% In Q1 2017
The private U.S. property/casualty insurance industry saw its net income after taxes drop 42.2 percent in first-quarter 2016, according to ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America. Read more.

U.S. Cyber Market Topped 1 Billion USD In 2016
Top cyber insurance writers have shifted away from writing packaged policies to standalone coverage by nearly a 70-30 split on more than USD 1 billion of direct premiums written in 2016, according to a new A.M. Best special report. Read more.

U.S. Cyber Insurance Industry Grows 35%
Cyber insurance direct written premium volume for the Property/Casualty industry grew by 35% in 2016 to USD 1.35 bn, according to a new report from Fitch Ratings. Read more.

2017 Trustwave Global Cybersecurity Report
There is good news and bad news in the world of cybersecurity: the 2017 Trustwave Global Security Report reveals the top cybercrime, data breach and security threat trends from 2016. Read more.

Bitfury Group, Risk Cooperative Announce Blockchain Partnership
The Bitfury Group and Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the insurance intermediation market. Read more.

Wawanesa Deploys Guidewire Systems
Guidewire Software, Inc., and The Wawanesa Mutual Insurance Company have announced that Wawanesa has successfully completed its core system implementations in the United States. The company continues to deploy InsuranceSuite in Canada. Read more.

J.D. Power 2017 U.S. Auto Insurance Study
Record numbers of miles driven, increased frequency and severity of collisions, and extreme weather have crimped U.S. auto insurer profitability, resulting in rate increases for more than one-quarter of U.S. customers and a strain on customer satisfaction, according to the J.D. Power 2017 U.S. Auto Insurance Study. Read more.

Data Breach Cost Declined Globally In 2017
The average overall cost of a data breach has declined – for the first time – according to a new global study sponsored by IBM Security and conducted by Ponemon Institute. Read more.

Home Is Where The Heart Is: Allstate Canada Poll
When it comes to possessions they treasure, home is truly where the heart is in Canada, as Canadians say they value their homes above all else, according to a new poll commissioned by Allstate Insurance Company of Canada. Read more.

More Drivers Need To #DriveSober, #SlowDown
The results of SGI's May traffic safety spotlight are another reminder of why such campaigns are needed. More than 320 impaired driving offences and 6,100 speeding tickets were recorded, showing more drivers need to #DriveSober and #SlowDown. Read more.


The Intersection: Insurance-Canada.ca Blog

What's going through the Intersection
of insurance and technology?

Is Insurance the Future of InsurTech?
InsurTech is the hot topic this year, and for good reason. In the effort to improve consumer engagement, InsurTech's new technology-driven construct is showing value. But can we envision base insurance principles being stretched in service of modernity? Read more.


“Insurance: Connected”
2017 Insurance-Canada.ca Executive Forum
Tuesday, August 29, in Toronto

Build an organizational culture that values hackathons and startup partnerships; they can help pave the way to growth by giving you visibility and the ability to disrupt yourself.

Challenge your thinking on “Hackathons to Startups: Inspire & Accelerate Innovation” with Andrew LO, President & COO of Kanetix, as he shares insights from their experience.

Register today for early-bird savings.

ICEF2017: 'Insurance: Connected' - 5th annual Executive Forum - August 29, 2017



From Doug

From the annual conference of the United Empire Loyalist association this past weekend in London, Ontario, a tour visited St. Thomas.

If you dig a bit, you find interesting history.

The Old St. Thomas Church (Anglican, 1822-4) features old box pews, and the cemetery contains a witch's grave marker.

The Elgin Military Museum records military details about Elgin County and its citizens as far back as the War of 1812.

And Jumbo, PT Barnum's larger than life elephant, died in St. Thomas on September 15, 1885, possibly in an altercation with a locomotive. Was he insured? I wonder.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

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