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U.S. personal lines carriers investing in insurtech for early information on new ideas, competitive advantage: Novarica

May 16, 2017 by Canadian Underwriter

Personal lines carriers in the United States are using insurtech to focus on diverse research and development efforts, analytics, improved self-service capabilities (including mobile platforms) and core systems upgrades with an eye to the future, suggests a new report from

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Echelon reports Canadian combined ratio of 94% for Q1 2017, down 6% from Q1 2016

May 4, 2017 by Canadian Underwriter

Mississauga, Ont.-based Canadian P&C insurer Echelon Financial Holdings Inc. has reported a Canadian combined operating ratio of 94% for the three months ending March 31, down from 100% in Q1 2016 and driven by strong results in both personal and

News Commercial LinesInsurancePersonal LinesProfessional DevelopmentTechnology

Optimum General obtains CSIO certification for commercial lines eDocs

April 20, 2017 by Canadian Underwriter

The Centre for Study of Insurance Operations (CSIO) has announced that Optimum General Inc. has obtained CSIO certification for commercial lines eDocs. Optimum is now CSIO eDocs-certified for both of its lines of business, as the company obtained certification for

News AppointmentsCommercial LinesInsuranceMergers and AcquisitionsProductsProfessional Development

Can-Sure Underwriting & Beacon Underwriting promotes Cameron Copeland to president

April 18, 2017 by Canadian Underwriter

Canadian property and casualty managing general agency (MGA) Can-Sure Underwriting and Beacon Underwriting announced on Tuesday that Cameron Copeland will assume the role of president. Copeland assumed the role effective April 15, succeeding Can-Sure founder Jeff Hart, who has “decided

News CatastrophesCommercial LinesInsurancePersonal Lines

Economical Insurance gross written premiums up 4.8% in Q4 2016 to $521.8 million

February 22, 2017 by Canadian Underwriter

Economical Insurance has reported that gross written premiums (GWP) for the fourth quarter of 2016 ending Dec. 31 grew by $23.8 million, or 4.8%, to $521.8 million from $498 million in Q4 2015. In particular, personal lines premiums grew by

News Commercial LinesInsurancePersonal LinesProfessional Development

The Co-operators acquires brokerage Denny’s Insurance of Acton, Ont.

January 16, 2017 by Canadian Underwriter

Co-operators General Insurance Company announced on Monday that its wholly-owned subsidiary has purchased personal and commercial lines brokerage Denny’s Insurance. Current clients of Denny’s Insurance, located in Acton, Ont., will be notified of the change in ownership and their existing

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks

December 14, 2016 by Canadian Underwriter

Ratings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained

News CatastrophesClimate ChangeInsuranceTechnology

Insurance undergoing “a fundamental structural change”: KPMG speaker

December 8, 2016 by Angela Stelmakowich

The insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the

News CatastrophesCommercial LinesInsurancePersonal Lines

PCS estimates $3.98 billion in insured damage from Fort McMurray wildfire in final re-survey

November 17, 2016 by Canadian Underwriter

Property Claim Services (PCS) has updated its insured damage estimate for the Fort McMurray wildfire to $3.98 billion, down from its August estimate of $4.67 billion. Of the $3.98 billion estimate, the majority is in personal lines ($2.9 billion), with

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Combined ratio 100.3% for U.S. mutual insurers in 2015: A.M. Best

September 22, 2016 by Canadian Underwriter

Mutual property & casualty insurers in the United States experienced more growth in their commercial business than in personal lines over the past five years, while improved pricing sophistication has led to lower loss ratios, A.M. Best Company suggested in

News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal Lines

U.S. p&c industry sees favourable rating activity in 2016 H1: A.M. Best

August 12, 2016 by Canadian Underwriter

Property and casualty insurers in the United States have witnessed favourable rating activity in the first half of 2016 compared to a negative prior-year trend, notes a new special report from A.M. Best. Reversing what was seen in 2015 H1,

News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Economical Insurance cites wildfire’s impact, net income drops to $17.1 million in 2016 Q2

August 8, 2016 by Canadian Underwriter

Canada’s worst-ever insured natural disaster – the Fort McMurray wildfire – delivered a hard hit to the underwriting activity of Economical Insurance, contributing to a net income in the second quarter of 2016 of about half the prior-year quarter. Economical