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INSURANCE INDUSTRY NEWS
Apollo Partners With Lloyd’s Of London
Apollo Insurance Solutions Ltd., Canada's leading online insurance provider, has announced that it has secured coverholder status with Lloyd's of London. This will give Apollo access to an expanded product portfolio, and the ability to manufacture unique products to respond even more rapidly to emerging market opportunities.
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Thales Launches Secure Cloud Connectivity
Thales technology is at the heart of a new Canadian IoT project that is enabling instant, secure and scalable cloud connectivity for SIM/eSIM enabled IoT. Working alongside TELUS and the Canadian Internet Registration Authority, Thales is supplying SIMs and the IoT server, both compliant with GSMA IoT SAFE specifications.
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Cansure Joins ProNavigator’s Sage Network
Cansure, a top Canadian MGA, has joined a growing network of insurance organizations in the Sage knowledge management system from ProNavigator. Cansure product information is now available to any insurance broker using Sage.
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Climate Change Could Cost 18% Of Global GDP
Climate change poses the biggest long-term threat to the global economy. If no mitigating action is taken, global temperatures could rise by more than 3°C and the world economy could shrink by 18% in the next 30 years. But the impact can be lessened if decisive action is taken to meet the targets set in the Paris Agreement, Swiss Re Institute's new Climate Economics Index shows. This will require more than what is pledged today; public and private sectors will play a crucial role in accelerating the transition to net zero.
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Unica, Vertafore Complete CSIO Commercial Lines Certification Program
CSIO is pleased to announce that Unica Insurance and Vertafore Canada are the first insurer and vendor members to partner and fulfill requirements of the Commercial Lines Certification Program. With the program launched just one year ago, both parties prioritized securing the foundation for real-time quoting by meeting the required criteria for each of the three certification levels: Foundation, Verified, and Certified.
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GroupAssur Merges With Evolution Insurance
GroupAssur, a Canadian MGA specializing in Property & Casualty insurance lines, is pleased to announce that it has merged with Evolution Insurance, an MGA and wholesaler specializing in complex risks that offers its facilities, programs and services to Canadian brokers. Following the combination, each company will initially continue to operate under their existing brand names, with an objective of full integration in 2022.
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Willis Towers Watson Launches Radar Workbench
Willis Towers Watson, a leading insurance consulting and technology provider, has launched Radar Workbench, new software technology that will transform the performance of frontline underwriters, allowing them to make better decisions at pace and with confidence.
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P&C Underwriting Fraud: A Market Overview
The full scale of insurance fraud is unknown. By nature, fraud is intended to go undetected, and if fraudulent behavior is not discovered right away, an insurer may never know it occurred. Fraud is prevalent throughout the entire insurance life cycle. Historically, the focus has been on detecting and preventing claims fraud. Today, insurance companies recognize that fraud frequently begins during the initial application process, and they are investing more in technologies to combat underwriting fraud.
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First Onsite Opens New Windsor Branch
First Onsite Property Restoration, Canada's leading property restoration company, has strengthened its presence in Southwestern Ontario with the opening of a new branch in Windsor.
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Apollo Welcomes Klaus Salchner As CTO
Apollo Insurance Solutions Ltd., Canada's leading online insurance provider for small businesses and individuals, is pleased to announce that Klaus Salchner has joined Apollo as Chief Technology Officer.
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10 Tips For Emergency Preparedness Week
Severe weather is on the rise across Canada. During a severe weather event, everyone's priority must be their own safety and the safety of their loved ones and neighbours. With the COVID-19 pandemic still being a major factor across Canada, there is a greater need for Canadians to plan ahead and be prepared.
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Albertans: Prepare For 2021 Hail Season
June to September is hail season in Alberta. Homes are being damaged more frequently not only by hail, but also by heavy rainfall and strong winds. In preparation of this year's hail season, Insurance Bureau of Canada is sharing tips and information to help consumers protect themselves and their property.
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IBC Hails Ontario Road Safety Legislation
Ontario has introduced a bill to enable provincial oversight of the towing industry and to improve overall road safety. Following the announcement of the Moving Ontarians More Safely (MOMS) Act, IBC issued a statement commending the legislation.
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