INSURANCE INDUSTRY NEWS
Driverless Cars Will Revolutionise Insurance
Widespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long term as liability shifts towards manufacturers and the traditional risk pool shrinks, according to Fitch Ratings.
Limited Growth Prospects for Canadian Insurance
Slower consumer spending on big-ticket insurable items, as well as an aging population, will weigh on the outlook for Canadian insurance firms, according to The Conference Board of Canada's first outlook for the insurance industry.
Six Forces Shaping P&C Insurance in 2017
A potent combination of technological change, talent pressure and customer expectations is forcing Canada's property and casualty (P&C) insurers in 2017 to embrace innovation more urgently than ever. These three factors are among six forces shaping the P&C insurance industry in the year ahead, as revealed in EY's 2017 P&C Insurance Outlook.
DrivSafe Launches Mobile Telematics in Canada
DrivSafe is pleased to announce the launch of its mobile app in Canada, helping auto insurance companies to evaluate the driving habits of their policyholders in order to offer discounts to good drivers.
Enhancing P&C Carriers' Moment of Truth Through Innovation in Claims: Aite Group
The moment of truth for any property and casualty insurance policyholder is being made whole in the event of a loss. Yet for many policyholders, the path toward getting made whole is filled with obstacles, many of which are put in place by their carriers.
Desjardins Introduces New Flood Coverage
Thanks to new flood coverage (Endorsement 16d), customers of Desjardins Insurance, The Personal and State Farm Canada who live in low-risk areas will automatically be covered, at no charge, for damage caused by an overflowing waterway or dam break.
Safe Texting Zones Can Save Lives
Aviva Canada applauds Private Member's Bill designed to combat distracted driving through the creation of designated safe texting zones.
IBAO Supports Bill To Limit Referral Fees
The Insurance Brokers Association of Ontario supports MPP Mike Colle's Private Members Bill 103, Personal Injury and Accident Victims Protection Act, which would help to protect consumers by amending the Law Society Act to prohibit licensees from soliciting, accepting or paying a referral fee in the case of a personal injury claim.