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Personal Lines


News InsuranceLegislation / RegulationPersonal Lines

Insurance Bureau calls on Ontario to implement file-and-use process for private passenger auto, allow e-signatures

February 7, 2017 by Canadian Underwriter

The Ontario government should apply a file-and-use process for private passenger auto coverage, Insurance Bureau of Canada suggested in a paper released Monday. Auto insurers’ rate changes are subject to approval by the Financial Services Commission of Ontario. FSCO actuaries

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros

February 7, 2017 by Canadian Underwriter

Munich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Credit rating upgrades outpace downgrades for U.S. P&C carriers in 2016: A.M. Best

February 7, 2017 by Canadian Underwriter

Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the property & casualty industry in the United States, despite headwinds that include pressure on underwriting results and the low investment yield environment, according to a new special

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Chubb enhances Master Equipment Breakdown insurance policy for Canadian customers

February 7, 2017 by Canadian Underwriter

Chubb announced on Tuesday that is has enhanced its Masterpiece Equipment Breakdown insurance policy to “better protect customers against problems associated with the sudden or accidental breakdown of residential equipment.” Available to customers with an existing Canadian Masterpiece Homeowners, Condominium

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

CNA Property & Casualty Operations combined ratio at 95.9% for full-year 2016

February 7, 2017 by Canadian Underwriter

CNA Financial Corporation has reported a Property & Casualty Operations combined ratio for 2016 of 95.9%, similar to 95.4% for the 12 months ending Dec. 31 2015, and a combined ratio of 99.9% for the fourth quarter of 2016 ending

News InsuranceMarkets / CoveragesPersonal Lines

Canadian auto sales to edge down in 2017: Scotiabank

February 7, 2017 by Canadian Underwriter

Canadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich

News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal Lines

Failure to make supply chains Brexit-ready could cut key industries’ net profits an average of 30%

February 7, 2017 by Canadian Underwriter

U.K. companies waiting for a clearer sense of the future under Brexit is a risky supply chain strategy that could result in net profits across key industries plummeting an average of 30%, suggests a new study released Tuesday by Bain

News Commercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

AXIS Capital reports net income of US$131 million for Q4 2016

February 6, 2017 by Canadian Underwriter

Pembroke, Bermuda-based AXIS Capital Holdings Limited has reported a net income available to common shareholders for the fourth quarter of 2016 of US$131 million, comparable to a net income of US$135 million for the fourth quarter of 2015. Net income

News Commercial LinesInsurancePersonal Lines

Ontario’s Lanoue Insurance Brokers joins Brokerlink

February 3, 2017 by Canadian Underwriter

Belle River, Ont.-based Lanoue Insurance Brokers Ltd. announced on Friday that it will join BrokerLink, one of the largest Canadian property and casualty insurance brokerages. Serving Ontario’s Windsor/Essex area, the firm specializes in personal, commercial, farm and marine insurance. Terms

News CatastrophesInsurancePersonal Lines

Burlington, Airdrie city officials share lessons from 2014 weather disasters

February 2, 2017 Greg Meckbach, Associate Editor

A rain storm in Burlington, Ont. during the summer of 2014 prompted officials from the upper tier of municipal government to take measures to address flood risk on homeowners’ properties, a speaker told insurance professionals at a conference Thursday. On

News InsuranceLegislation / RegulationPersonal LinesTechnology

Self-driving car prototypes need less human help, data show

February 2, 2017 Justin Pritchard - THE ASSOCIATED PRESS

LOS ANGELES – Self-driving car prototypes appear to be getting better at negotiating California streets and highways without a human backup driver intervening, according to data made public Wednesday by California transportation regulators. The data reflect safety-related incidents reported by

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Allied World combined ratio up 2.8% in fourth quarter of 2016

February 2, 2017 by Canadian Underwriter

Zug, Switzerland-based Allied World Assurance Company Holdings, AG has reported a combined ratio of 99.8% for the fourth quarter of 2016, ending Dec. 31, compared to 97% in the fourth quarter of 2015. Allied World, a global provider of property,