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Customers in driver’s seat, geared up for experimenting with insurance offerings: webinar

June 29, 2017 by Angela Stelmakowich

Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for

News CatastrophesInsurancePersonal LinesProductsReinsurance

MSA calls for ‘sustainable solution for underinsurance’ in overland flood

June 27, 2017 by Canadian Underwriter

A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In

News CatastrophesConstructionInsurancePersonal Lines

Fire destroys N.L. apartment complex, leaves dozens homeless in St. John’s

June 27, 2017 The Canadian Press (CPSTF)

JOHN’S, N.L. – A massive, fast-moving fire at a public housing complex has forced about 35 people out of their homes in a blaze that sent large plumes of smoke billowing above St. John’s, N.L. Fire platoon Chief Brian Tucker

News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal LinesReinsurance

Investment income doubles for Canadian P&C industry: MSA

June 27, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.

News InsuranceMarkets / CoveragesPersonal Lines

Canadians “greatly overestimate” their financial literacy skills, including those related to auto insurance: survey

June 27, 2017 by Canadian Underwriter

More than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a

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Municipality of North Perth, OPP and Trillium Mutual Insurance join forces on reducing auto thefts

June 27, 2017 by Canadian Underwriter

Ontario’s Municipality of North Perth, Perth County Ontario Provincial Police (OPP) and Trillium Mutual Insurance have joined resources to help reduce auto thefts in the area. The Municipality of North Perth, located west of Toronto, said in a press release

News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal Lines

U.S. earthquakes estimated to cost US$6.1 billion annually in building stock losses

June 26, 2017 by Canadian Underwriter

Earthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the

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Air bag maker Takata bankruptcy expected Monday in Japan, U.S.

June 26, 2017 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday. Takata was done in by defective air bag inflators

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesProductsReinsuranceTechnology

AIR Worldwide releases probabilistic crop hail model for Canada

June 26, 2017 by Canadian Underwriter

AIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available

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Legalizing recreational marijuana linked to increased crashes: U.S. Highway Loss Data Institute

June 23, 2017 by Canadian Underwriter

Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about 3% higher overall than would have been expected without legalization, according to a new analysis from the Highway Loss Data Institute (HLDI).

News CatastrophesInsurancePersonal Lines

Red Deer cleaning up from windstorm after declaring state of emergency

June 22, 2017 The Canadian Press

RED DEER, Alta. – People in Red Deer were cleaning up Wednesday after a violent windstorm that knocked out power and prompted the central Alberta city to declare a local state of emergency. Homes were damaged Tuesday when wind gusts

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Suspected tornado flattens businesses in Alabama

June 22, 2017 Kevin McGill - THE ASSOCIATED PRESS

NEW ORLEANS – A suspected tornado near Birmingham, Alabama, flattened businesses and injured one person Thursday, while the mayor of a coastal Louisiana town urged residents to evacuate ahead of a rising tide – two lingering effects of a weakening