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Insurance industry should consider opening up to loyalty marketing: Aite Group

January 27, 2017 by Canadian Underwriter

Multiple forces are clearing the way for insurers around the world to make cretive use of loyalty marketing techniques like rewards programs that have historically been the domain of credit cards, travel, lodging and retail, suggests a new Aite Group

News AssociationsCommercial LinesInsurancePersonal Lines

Ontario Trucking Association to investigate roadside towing charges of heavy-duty recovery companies

January 27, 2017 by Canadian Underwriter

The passing of the Fighting Fraud and Reducing Automobile Insurance Rates Act, 2014 has fuelled plans by the Ontario Trucking Association to investigate if roadside towing charges by heavy-duty recovery firms reflect the rates officially advertised on their websites. OTA

News Commercial LinesInsuranceLegislation / RegulationPersonal Lines

ICBC board finalizes terms of reference for independent review of insurance rates

January 26, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia’s (ICBC) Board of Directors (BoD) has finalized the terms of reference for an independent review of the fairness and affordability of basic insurance rates in the province, with the idea being to limit future

News InsurancePersonal Lines

Drivers can take up to nearly 26 seconds to resume control from autonomous cars: UK study

January 26, 2017 by Canadian Underwriter

Drivers can take up almost 26 seconds to resume control from an autonomous vehicle, a new study from a university in United Kingdom has found. University of Southampton engineers Professor Neville Stanton and Alexander Eriksson found that under non-critical conditions,

News CatastrophesInsurancePersonal Lines

Storm knocks out power, closes schools in parts of Atlantic Canada

January 26, 2017 The Canadian Press

FREDERICTON – More than 80,000 customers were still without power in many parts of New Brunswick early Thursday after a blustery mix of freezing rain, ice pellets and strong winds moved through the Maritimes. NB Power said at the height

News CatastrophesCommercial LinesInsurancePersonal Lines

Flooding and damaging winds most destructive U.S. natural hazards in 2016: CoreLogic

January 26, 2017 by Canadian Underwriter

Natural hazard activity in the United States in 2016 was “relatively average or below average,” with the exception of flood and wind, both of which saw above-average activity, due in large part to Hurricane Matthew, CoreLogic, Inc. said on Thursday.

News CatastrophesCommercial LinesInsurancePersonal Lines

U.S. Storm Prediction Center issues high risk outlook for January for first time in two decades: RMS

January 26, 2017 by Canadian Underwriter

The severe storms that have struck the southern United States have prompted the Storm Prediction Center (SPC) to issue a “high risk” outlook in the month of January for the first time in nearly two decades, Risk Management Solutions, Inc.

News AssociationsCatastrophesInsurancePersonal Lines

First nine months of 2016 ‘disappointing’ for Canadian P&C industry: Intact president

January 25, 2017 Greg Meckbach, Associate Editor

Brokers should expect personal automobile insurance to be “much more difficult” for their carriers, while a new definition of catastrophic impairment in Ontario was the most important change the province made effective June, 2016, the president of Intact Insurance suggested

News CatastrophesInsurancePersonal Lines

Georgia’s insurance commissioner estimates US$100 million in property damage from storms

January 25, 2017 by Canadian Underwriter

Georgia’s insurance commissioner is estimating US$100 million in property damage from storms and tornadoes that devastated parts of the state and resulted in at least 15 deaths. Commissioner Ralph T. Hudgens said in a press release issued Wednesday that “hundreds”

News Commercial LinesEarnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesPersonal LinesReinsurance

Canadian non-life insurance market poised for 2017 profit recovery: Fitch

January 25, 2017 by Canadian Underwriter

The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will

News InsurancePersonal LinesTechnology

Paris tests electric driverless minibus to fight pollution

January 25, 2017 Samuel Petrequin - THE ASSOCIATED PRESS

PARIS – In a city hit by chronic pollution and traffic problems, Paris officials are experimenting with a self-driving shuttle linking two train stations in the French capital. Two electric-power EZ10 minibuses, which can carry up to six seated passengers,

News CatastrophesCommercial LinesInsurancePersonal Lines

California governor declares states of emergency in 50 counties following severe winter storms

January 24, 2017 by Canadian Underwriter

California Governor Edmund G. Brown Jr. has declared states of emergency in about 50 counties following severe winter storms across the state. On Monday, Brown issued two emergency proclamations to secure funding to help communities respond to and recover from