News
Home insurance clients advised to check coverage before renovating
February 1, 2013 by Canadian UnderwriterSquare One Insurance has issued a cautionary note to home and condo owners undertaking renovations, warning them to verify the liability and workers’ compensation coverage of contractors. In a press release Friday, Vancouver-based Square One noted even small renovations could…
RIMS donates $30,000 to risk management resource organization McGannon Foundation
February 1, 2013 by Canadian UnderwriterRIMS, the Risk Management Society, has donated $30,000 to The William H. McGannon Foundation, a charitable nonprofit organization that provides funding and resources to support the advancement of the risk management and insurance professions in Canada. The donation was presented at…
Quebec insurer partners with air ambulance service
February 1, 2013 by Canadian UnderwriterA Quebec insurance company has partnered with an air ambulance service to offer no-fee emergency assistance, up to a certain amount, beginning this May. La Capitale General Insurance has partnered with Airmedic, to allow the insurer’s clients who have a…
U.S. auto insurers aren’t targeting the right consumers, despite high marketing spend: report
January 31, 2013 by Canadian UnderwriterThe auto insurance industry in the United States is one of the most aggressive in terms of marketing spend, but it may not be having the desired impact, notes a new report from McKinsey and Co. Over the past nine…
Many companies in Europe do not give sufficient attention to cyber risks: survey
January 31, 2013 by Canadian UnderwriterApproximately three-quarters of surveyed respondents, almost all in Europe, reported that information security and privacy have become more significant areas of concern in the past three years. “Many companies still do not devote sufficient attention to cyber risks, despite an…
Intact takes new step in business intelligence capabilities
January 31, 2013 by Canadian UnderwriterCanadian insurance giant Intact Financial has taken a new step in its analytics capabilities and its implementation of FellowDSS Accelerator business intelligence tool. The company has acquired the FellowDSS Framework version, which will provide it with access to intellectual property…
Everest Insurance Canada appoints new CEO
January 31, 2013 by Canadian UnderwriterEverest Insurance Company of Canada (EvCan) has appointed David A. Crozier to the position of chief executive officer, effective Jan. 21. Crozier was most recently senior vice president of operations for Economical Mutual Insurance Company with responsibility for oversight of…
U.S. court accepts plea resolving criminal claims against BP
January 31, 2013 by Canadian UnderwriterThe U.S. District Court for the Eastern District of Louisiana has accepted BP’s plea resolving all federal criminal charges against the company stemming from the Deepwater Horizon accident, oil spill and response, the company reports. Pursuant to the previously announced…
Canadian insurance market stable for 2013, possible rate increases in second half: Marsh
January 30, 2013 by Canadian UnderwriterThe Canadian insurance market is likely going to see continued stability this year, although the industry could see modest rate increases in the second half of 2013, suggests an outlook report from Marsh. Overall, the Canadian insurance industry outperformed the…
Teen-made safe driving PSAs to be distributed throughout U.S.
January 30, 2013 by Canadian UnderwriterTire company Bridgestone Americas, along with the U.S. Department of Transportation, has released several safe driving public service announcements geared toward teenagers, made by teenagers, that will be distributed across the country. The 2012 Teens Drive Smart Video Contest allowed…
Global microinsurance sector to double by 2020, industry network says
January 30, 2013 by Canadian UnderwriterThe global microinsurance sector is expected to double by 2020, potentially providing coverage to 1 billion people by that time, suggests one industry network. Over the past decade, governments, insurance companies and providers have been widening their geographic scope and…
Revenue up for brokerage firm Arthur J. Gallagher
January 30, 2013 by Canadian UnderwriterBrokerage and risk management firm Arthur J. Gallagher & Co. released Tuesday its financial results for 2012, reporting net earnings of $195 million on revenues of $2.52 billion, up from net earnings of $144.1 million on revenues of $2.13 billion…