News
U.S. government publishes guidelines to curb distracted driving
April 24, 2013 by Canadian UnderwriterNew distraction guidelines issued by the National Highway Traffic Safety Administration (NHTSA) encourage automobile manufacturers to limit the distraction risk connected to electronic devices built into vehicles. The voluntary guidelines include recommendations to limit the time a driver must take his…
U.K. tech company acquires Toronto-based iter8
April 24, 2013 by Canadian UnderwriterQuindell Portfolio Plc, a United Kingdom-based technology provider for the insurance industry, has entered the North American insurance market by acquiring Iter8 Inc., a Toronto-based provider of software-as-a-service for property and casualty brokers and agents. The agreed valuation of the…
Customer’s age not necessarily best indication of how they want insurance quotes: survey
April 24, 2013 by Canadian UnderwriterA prospective customer’s age is not necessarily a good way of predicting whether they want to get insurance quotes online, but agents need to become adept at using mobile devices and online services such as blogs and social media, a…
Need to shift focus from cat model to cat risk
April 23, 2013 by Angela Stelmakowich, EditorA new approach to catastrophe modelling is required to ensure companies and organizations using the tools gain a better understanding of risks, Karen Clark, president and CEO of Karen Clark & Company, told Canadian Underwriter in advance of speaking at this…
Heavy rain, storms cause flood damage to homes in U.S. Midwest
April 23, 2013 by Canadian UnderwriterResidents in the United States’ Midwest states are still feeling the effects of flooding, after heavy rainfall and severe thunderstorms occurred in the region last week. While much of the rainfall events have passed, many rivers in the region are…
Sichuan earthquake could affect Chinese manufacturers: EQECAT
April 23, 2013 by Canadian UnderwriterA new report from catastrophe modeling firm EQECAT Inc. suggests there is “large potential” for damage to manufacturing plants in China’s Sichuan province, where an earthquake occurred last Saturday. The epicenter of the April 20 earthquake, which measured measured 6.6…
Customer satisfaction down in U.S. auto claims experience: J.D. Power
April 23, 2013 by Canadian UnderwriterOverall satisfaction with the auto claims experience is down, according to the J.D. Power and Associates 2013 Auto Claims Satisfaction Study — Wave 2. Overall satisfaction has declined by 11 points to 850 on a 1,000 point scale, compared top…
Travelers reports slight increase in first-quarter net written premiums
April 23, 2013 by Canadian UnderwriterThe Travelers Companies Inc. released Tuesday its financial results for the three months ending March 31, recording a slight drop in total revenues but improved combined ratios, especially in home and personal auto as well as financial and professional insurance.…
Actuary takes top spot on job ranking list for 2013
April 23, 2013 by Canadian UnderwriterActuaries should be pleased to hear their career takes the first place spot on a rankings list of 200 jobs by CareerCast.com. The job search and resource website ranked the 200 jobs based on environment, income, outlook and stress. Each…
RIMS commitment to global expansion illustrated with new chapters, award recipients announced
April 23, 2013 by Canadian UnderwriterRIMS, the risk management society, now has 82 chapters, welcoming Australasia and Peru to the fold, notes a statement released Monday during the 2013 RIMS Annual Conference & Exhibition in Los Angeles, where RIMS also announced several presitigous award winners. …
Opportunity for risk management to deliver more value: RIMS/Marsh survey
April 23, 2013 by Angela Stelmakowich, EditorDespite greater alignment in how senior executives and risk professionals view the role that risk management should play in strategic planning, there is room for improvement and certain opportunities have yet to be realized. Those are among the findings of…
Risk management becoming more involved in critical decision-making: RIMS president
April 22, 2013 by Angela Stelmakowich, EditorRisk management has become a multi-disciplinary engine of growth and profit, with the discipline crossing all organizations and industries, RIMS president John Phelps said during the opening session of the 2013 RIMS Annual Conference & Exhibition. With the discipline starting…