Topic
Insurance
Not all U.K. van drivers using their sat-nav systems
August 15, 2012 by Canadian UnderwriterA survey by Swinton Vans indicates van drivers in the United Kingdom are having second thoughts about relying on their satellite navigation (sat nav) systems, with one in five respondents opting to get from A to B on their own.…
Aviva experiments with mobile telematics in the U.K.
August 15, 2012 by Canadian UnderwriterAviva, the U.K.’s second largest insurer, is trying out technology that uses customers’ smart phones to track their driving habits and adjust their rates accordingly. Drivers with the company using Android phones are invited to download the Aviva Rate My…
U.S. crash tests show weaknesses in luxury cars
August 15, 2012 by Canadian UnderwriterOnly three of 11 mid-size luxury or near-luxury cars earned good or acceptable ratings in “small overlap” frontal crash tests based on recent testing by the Insurance Institute for Highway Safety (IIHS). The Acura TL and Volvo S60 received good…
Drought in U.S. starting to hit reinsurance industry
August 14, 2012 by Canadian UnderwriterAt least one major reinsurance company has set aside reserves to deal with future claims related to the worst drought to hit the U.S. farming sector in more than 50 years. “Based on current estimates, Munich Re anticipates a net…
Township seeks disaster assistance following “macro-burst”
August 14, 2012 by Canadian UnderwriterThe Township of Greater Madawaska is awaiting word from Ontario’s Ministry of Municipal Affairs and Housing about whether or not it will receive disaster relief assistance following a macro-burst that felled hundreds of trees, caused widespread property damage and temporarily…
Traditional D&O coverage outstripped by new risks: Willis
August 14, 2012 by Canadian UnderwriterGeneral professional liability insurance may not represent enough protection for board members and senior executives to deal with a wave of emerging exposures, notes a recently released report from Willis Group Holdings. One of the prime threats is cyber risk,…
Alberta storm results in estimated insured costs of more than $100 million
August 14, 2012 by Canadian UnderwriterThe preliminary estimate of insured damage for last month’s severe thunderstorm event in and around Edmonton is pegged at more than $100 million, Insurance Bureau of Canada (IBC) reports. Thousands of claims have been filed for damage to homes, cars…
Crawford & Company (Canada) Inc. Assisting with Claims Surge After Inclement Weather Hits Quebec and Alberta
August 14, 2012 Crawford & Company (Canada) Inc.On August 11th, torrential downpour and thunderstorms caused flooding in Quebec’s Lanaudière region, the lower Laurentians, Laval, the South Shore and other areas. The storm, which Environment Canada confirmed as a microburst early Saturday evening, left more than 25,000 homes…
Greater chance of above-normal hurricane season: NOAA update
August 13, 2012 by Canadian UnderwriterThe National Oceanic and Atmospheric Administration (NOAA) is predicting that an active Atlantic hurricane season, with six named storms so far this year, will likely be joined by at least as busy a second half of 2012. An updated outlook…
60-day time limit for mediation elapsed: FSCO
August 13, 2012 by Canadian UnderwriterA director’s delegate for the Financial Services Commission of Ontario (FSCO) has upheld an arbitrator’s conclusion that mediation was deemed to have failed because it did not occur within 60 days of the application being filed with FSCO. In State…
Companies not using insurance to protect against cyber risk: Chubb
August 13, 2012 by Canadian UnderwriterMore than 70% of public companies in North America have an incident response plan for an electronic security breach, yet 57% of those firms do not include cyber liability insurance as part of that plan, notes a new risk survey…
Frank Cowan Company chooses Guidewire for claims management solution
August 13, 2012 by Canadian UnderwriterSpecialty Canadian insurer Frank Cowan Company has selected Guidewire ClaimCenter as its new claims management system. With the new system, Frank Cowan Company expects to reduce claims cycle times, improve data analytics and reporting capabilities and readily make system changes…