Big Changes Coming to Out-of-Country Travel Health Insurance Coverage for Canadians

OHIP | May 15, 2019

The province of Ontario, home to 40% of the population of Canada, is moving ahead with recently proposed plans to eliminate out-of-country health insurance coverage, which is currently provided under the provincial government's universal health care program called OHIP. This will not change coverage of Ontario residents traveling to other provinces of Canada. The new policy is set to take effect on Oct. 1, 2019, and it's getting a lot of media attention. Here is what every travel advisor in the country needs to know.

Spotlight

IT teams across industries face growing pressure to deliver projects faster while reducing costs. All too often, dated legacy systems hinder IT’s ability to accomplish either of these objectives. Legacy systems can also slow the speed at which IT can deliver new projects to support the business. For these reasons, legacy modern

Spotlight

IT teams across industries face growing pressure to deliver projects faster while reducing costs. All too often, dated legacy systems hinder IT’s ability to accomplish either of these objectives. Legacy systems can also slow the speed at which IT can deliver new projects to support the business. For these reasons, legacy modern

Related News

INSURANCE TECHNOLOGY

Cybersecurity Solutions for Buildings: A Launch by Schneider Electric and Claroty to Reduce Cyber and Asset Risks for Smart Buildings

Schneider Electric | June 20, 2022

Schneider Electric, the global leader in energy management, automation, and digital transformation, announced the launch of Cybersecurity Solutions for Buildings. This solution assists all building customers in securing their building management systems (BMS) to protect their people, assets, and operations. The collaborative solution with Claroty, a security company for cyber-physical systems in industrial, healthcare, and commercial environments, will combine award-winning technology with Schneider Electric industry expertise and services to identify all facility-wide assets, deliver unparalleled risk and vulnerability management capabilities, and provide continuous threat monitoring to protect enterprise investments. By 2050, it is expected that half of today's buildings will still be in use. This is causing commercial buildings to digitize their assets, including updating their building management system. Indeed, IoT technology for buildings is expected to grow from 1.7 billion connected devices at the end of 2020 to more than 3 billion by 2025. The integration of IoT in buildings is sparking an exciting shift across the sector, but like with any innovation, it also presents new risks, For threat actors looking to disrupt operations, benefit financially and/or achieve other objectives, and in so doing to put individuals at risk, buildings can appear to be the perfect target. It is with this in mind that we are partnering with Claroty to bring our customers a comprehensive, industry-leading solution that meets the unique security and operational risks facing buildings of today and of the future.” Annick Villeneuve, Vice President Digital Enterprise Solutions, Schneider Electric. Schneider Electric and Claroty's Cybersecurity Solutions for Buildings offer includes the following steps: asset discovery, risk assessment, remote access control, threat detection, and response. It will provide building owners, facility operators, and security teams with a simple solution that identifies baseline risks, reduce both cyber and asset risks and identify and remediates threats in their environment before service interruption. Schneider Electric's core mission in developing Cybersecurity Solutions for Buildings for our customers remains unchanged: by improving the resiliency of their buildings today. In the future, through an enhanced cybersecurity posture with the right technology and expertise, Schneider Electric works hand-in-hand with our customers as their digital partner for sustainability and efficiency, assisting them in making the most of their investments.

Read More

INSURANCE TECHNOLOGY

Piper Sandler Expands Insurance Investment Banking Team with Addition of Christopher Grady

Piper Sandler Companies | July 06, 2022

Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the hiring of Christopher Grady. He is joining the New York office as a director in the financial services group as part of the insurance investment banking team. “We are thrilled to have Chris join the Piper Sandler insurance investment banking team. Having worked closely with Chris over many years, we have enormous respect for his deal acumen and integrity. His experience successfully executing insurance distribution M&A transactions, in particular, is unparalleled,” said John Butler, managing director and co-head of insurance investment banking at Piper Sandler. Grady will be focused on advising clients on strategic M&A and executing M&A and capital raising transactions for insurance distribution clients. Previously, Grady was the head of corporate development for Marsh McLennan Agency, where he was responsible for leading strategy, corporate development, principal investment and M&A activity. In his time with Marsh McLennan Agency, he completed 80 transactions including over 70 acquisitions of insurance distribution firms in the U.S. and Canada. Grady holds a Master of Business Administration degree from NYU Stern School of Business and a bachelor’s degree in finance and corporate accounting from Ithaca College. “I’m very excited to join Piper Sandler and continue to build on the tremendous success they’ve had across the insurance industry. John Butler and George Johns have built an incredible team and I’m looking forward to bringing my expertise into the fold,” said Christopher Grady, director at Piper Sandler. “I’m very excited to join Piper Sandler and continue to build on the tremendous success they’ve had across the insurance industry. John Butler and George Johns have built an incredible team and I’m looking forward to bringing my expertise into the fold,” said Christopher Grady, director at Piper Sandler. The Piper Sandler insurance investment banking group is an industry thought leader providing financial advisory and capital raising services to insurance underwriters, brokers, third-party administrators and other insurance services companies. The team completed 31 M&A and strategic advisory and capital raising transactions in 2021 representing $4.0 billion in aggregate M&A deal value and $4.0 billion in aggregate capital raised.** ABOUT PIPER SANDLER Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Private equity strategies and fixed income advisory services are offered through separately registered advisory affiliates.

Read More

INSURANCE TECHNOLOGY

Milestone Partners Invests in a Holding Company for Specialty Auto Insurance

Milestone Partners | May 27, 2022

Milestone Partners announces the formation of specialty auto insurance holding company Drive Assurance Holdings LLC ("Drive Assurance"). It also announces the acquisition of GoAuto, LLC ("GoAuto") and its technology platform, Adaptive Information Technologies, LLC ("Adaptive Information Technologies") ("AIT"). GoAuto is a vertically integrated, tech-focused personal auto insurance platform that offers low-limit plans via its managing general agent and insurance carrier subsidiaries. GoAuto, which was founded in 2009 and distributes insurance directly to consumers online and through 70 captive shops, has traditionally achieved lower loss ratios and higher profitability than its industry counterparts by employing AIT's unique data analytics and underwriting technology. The dedicated balance sheet capacity of GoAuto's insurance carrier enables for better value chain capture, which is enhanced by reinsurance arrangements that enable an asset light approach and lower retained risk. GoAuto's speciality market area is expanding, highly fragmented, and anticipated to account for nearly 22% of total personal vehicle insurance premiums of $260 billion. GoAuto is Louisiana's third largest personal auto insurance, with operations expanding into Texas, Nevada, and Ohio. At GoAuto, Milestone intends to implement policies in the areas of environmental, social, and governance, as well as diversity, equity, and inclusion. GoAuto's proprietary software enables superior customer analytics and data-driven operations that have established them as a market leader. We look forward to working with the management team on executing their strategic initiatives." Adam Curtin, Partner at Milestone. Greg Tramontin, CEO and Founder of GoAuto, shared that they are looking forward to working with Milestone as they enter the next phase of their development. They are certain that, together, they will continue to provide best-in-class vehicle protection products and customer support to their loyal customers, given their specialized sector emphasis on financial technology companies and extensive experience in automotive finance services.

Read More