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Insurance
Co-operators General Insurance Company net income $128.8 million in 2016 Q4, up from $103.3 million in 2015 Q4
February 16, 2017 by Canadian UnderwriterThe consolidated net income for Co-operators General Insurance Company increased for the fourth quarter of 2016 over the same quarter in 2015, but net income for 2016 decreased from 2015. The Co-operators has posted net income of $128.8 million for…
Message from the President
February 10, 2017 Heather Matthews, President, Canadian Independent Adjusters' AssociationYou cannot turn a page, open a news article, turn on the television or even have a conversation without technology somehow weaving its thread in. We are bombarded with the latest advancements in all industry sectors. In my last message…
Terrorism insurance gaps demand rethinking focus on property: C4 2017 speaker
February 2, 2017 by Angela StelmakowichTerrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and…
Ontario Municipal Employees Retirement System agrees to buy minority stake in Allied World
January 27, 2017 by Canadian UnderwriterAllied World Assurance Company Holdings AG will be 21% owned by the Ontario Municipal Employees Retirement System (OMERS) if a deal announced Friday with Fairfax Financial Holdings is approved. Toronto-based Fairfax announced Dec. 18 a merger agreement, valued at about…
Insurance industry should consider opening up to loyalty marketing: Aite Group
January 27, 2017 by Canadian UnderwriterMultiple 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…
Ontario Trucking Association to investigate roadside towing charges of heavy-duty recovery companies
January 27, 2017 by Canadian UnderwriterThe 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…
ICBC board finalizes terms of reference for independent review of insurance rates
January 26, 2017 by Canadian UnderwriterThe 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…
LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs
January 24, 2017 by Canadian UnderwriterLexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.…
New mobile app allows policyholders to self-serve auto, property insurance policies through their mobile devices
January 24, 2017 by Canadian UnderwriterKTX Insurance Brokers Ltd. is looking to respond to consumer demand to interact online with the launch of a new mobile app that allows policyholders to access both advice from licensed brokers and self-serve their insurance policies online. Through the…
Rule-making authority essential for Ontario’s new FSRA: Cooke
January 20, 2017 by Angela StelmakowichEquipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of…
Thinking outside the box key to keeping p&c industry relevant, responsive: Cook
January 12, 2017 by Angela StelmakowichThose in Canada’s property and casualty insurance industry must think outside the box and understand the importance of coupling new products with new delivery methods to meet ever-increasing and ever-changing customer expectations, Philip Cook, CEO of Omega Insurance Holdings Inc.,…
Strategic planning of Canada’s p&c industry must extend to five, 10 years: Cook
January 11, 2017 by Angela StelmakowichCanada’s property and casualty insurance industry must look farther ahead in its strategic planning than it may be used to ensure it fully grasps developing conditions and can address related changes, Philip Cook, CEO of Omega Insurance Holdings Inc., suggested…