Topic
Insurance
New York’s transportation losses from Irene amount to $65 million
August 30, 2012 by Canadian UnderwriterNew York’s Metropolitan Transportation Authority (MTA) has submitted its Federal Emergency Management Agency (FEMA) and insurance claims to recover $65 million in losses from flood and wind damage to the regional transit infrastructure in the wake of Tropical Storm Irene…
Predictive tool for homeowners’ insurance used for more than a million policies
August 30, 2012 by Canadian UnderwriterA product that allows insurance carriers to use predictive scores to quote homeowners’ policies online in real time has scored almost 1.5 million policies in the U.S. since its launch in March, Denver-based Valen Technologies reports. PropertyRight is a set…
Granite Claims Solutions Appoints Kurt Johnston as Vice President, Sales and Marketing
August 30, 2012 Canadian Underwriter magazineMichael Holden, President & CEO of Granite Claims Solutions, is pleased to announce the appointment of Kurt Johnston to the role of Vice President, Sales and Marketing. As the current VP of Granite’s Marketing Department, Kurt has assumed the Sales leadership…
The “price is wrong” for Ontario auto insurance: IBC
August 30, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC)’s public awareness campaign on Ontario auto insurance has listened to disgruntled consumers and now aims to promote understanding of the reasons behind stubbornly high rates. “We wanted to find out what Ontarians were thinking about…
Hurricane Isaac could reach $1.5 billion in insured damages
August 30, 2012 by Canadian UnderwriterAfter coming ashore in southeastern Louisiana late Aug. 28, Hurricane Isaac has dropped substantial rain and brought maximum sustained winds of 80 mph to the region. Catastrophe modelling firm Eqecat has made the first initial disaster estimate of insured losses…
The Guarantee Announces Addition of Equipment Breakdown Extension to Guarantee GOLD Homeowner and Guarantee GOLD Secondary Homeowner Policies
August 29, 2012 Canadian Underwriter magazineThe Guarantee is enhancing the breadth of coverage offered to our Guarantee GOLD®clients. An Equipment Breakdown Extension will be automatically added to Guarantee GOLD® Homeowner and Guarantee GOLD® Secondary Homeowner Policies. As a “specialty insurer”, our objective is to provide…
RIMS outlines global reinsurance market policy positions
August 29, 2012 by Canadian UnderwriterThe Risk and Insurance Management Society, Inc. (RIMS) is reiterating its opposition to draft legislation that would place significant restrictions on domestic insurers that cede reinsurance to their foreign affiliates. That view was offered in an official comment letter to…
THE PROFORMANCE GROUP HAS EXPANDED
August 29, 2012 Canadian Underwriter magazineTammie Norn, CEO of ProFormance Adjusting Solutions and John Seyler, President of ProFormance Specialty Claims are pleased to welcome Simone Cybulski to the ProFormance team. Working from her Kingston office Simone will service the Eastern Ontario Region from Belleville to…
Fake auto insurance appears to be on the rise: police
August 29, 2012 by Canadian UnderwriterRoutine traffic stops by members of the Southern Georgian Bay auxiliary unit of the Ontario Provincial Police (OPP) are revealing an increase in fraudulent insurance documents. “Unsuspecting consumers are being targeted by fake insurance companies selling auto insurance in Ontario,”…
Crop losses in the U.S. will result in “substantial” losses: Moody’s
August 29, 2012 by Canadian UnderwriterThe massive drought parching the U.S. Midwest is likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, Moody’s Investors Service notes in a recent profile of the…
XL Group’s reinsurance operations appoints Tim Fisher as Canadian branch manager
August 29, 2012 by Canadian UnderwriterXL Group plc’s reinsurance operations in Bermuda recently announced the appointment of Tim Fisher as senior vice president and Canadian branch manager. Fisher, who has more than 25 years of experience in the reinsurance industry, will be responsible for leading…
FirstOnSite mobilizes to respond to U.S. Gulf Coast
August 28, 2012 by Canadian UnderwriterFirstOnSite Restoration has mobilized to the Gulf Coast in the United States to respond to Tropical Storm Isaac. A central command centre has been established in Meridian, Mississippi to manage the response, notes a statement from FirstOnSite, an independent emergency…