Daily News

Draft regulations for demutualization of p&c companies released

Canada’s Department of Finance has issued long-awaited draft regulations for the demutualization of Canadian property and casualty insurance companies.
Feb 27, 2015 5:00PM

Net income down 6.2%, premiums up 2% at FM Global

Factory Mutual Insurance Company (FM Global) announced Friday its net income for 2014 dropped 6.2% to $956.4 million, from $1.02 billion in 2013, while net premiums earned increased 2% to $3.6 billion. All figures are in United States dollars.
Feb 27, 2015 4:14PM

Improvements needed in property damage/business interruption policies, Marsh says

There are five core areas in property damage/business interruption policies where improvements are required, said a Feb. 26 report from Marsh LLC. 
Feb 27, 2015 3:52PM

IBC CEO praises Nova Scotia auto insurance reform

In considering reforms to auto insurance, Ontario policymakers should look at what their Nova Scotia counterparts have done, suggested Don Forgeron, president and CEO of the Insurance Bureau of Canada, in a recent speech in Halifax.
Feb 27, 2015 2:28PM

Underwriting loss $939 million, net income $3.6 billion at State Farm property & casualty firms

State Farm reported Friday its property & casualty companies had an underwriting loss of $939 million in 2014 compared to an underwriting gain of $230 million in 2013, with net income of $3.6 billion in 2014. All figures are in U.S. dollars.
Feb 27, 2015 1:07PM

Private sector concerned about political, regulatory risk associated with helping meet global infrastructure demand: report

Beyond the public sector, private investors and operators are needed to meet the world’s huge infrastructure demand, but they are concerned about political and regulatory risk, suggests a new report issued this week as part of the World...
Feb 27, 2015 10:43AM

Combined ratio in Canada drops to 98% in 2014 for RSA Group

RSA Group has released its 2014 preliminary results, which showed that its combined ratio for Canada in 2014 was 98%, compared to 100.7% in 2013.
Feb 26, 2015 4:20PM

Q1 insurance revenues down 1.2% at TD Bank

Canada’s largest direct insurance writer, the Toronto-Dominion Bank, reported Thursday a 1.2% drop in first-quarter insurance revenues – including home, auto, life, health and travel – from $910 million in 2014 to $899 million...
Feb 26, 2015 4:01PM

Insurance customers report higher satisfaction rates when dealing with agents than over the phone or web: report

Insurance customers surveyed report a higher rate of satisfaction while dealing through agents rather than through the Internet and carriers need to “expand their use” of catastrophe modeling tools, Cap Gemini SA and Efma suggest in...
Feb 26, 2015 2:53PM

New Canadian jail looks at ways of keeping out drug drones flying overhead

HALIFAX - One of Canada's newest jails is researching the use of detectors to prevent the invasion of drug-bearing drones that have plagued some North American prisons.
Feb 26, 2015 2:38PM

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