News
Vast majority of Canadian drivers admit to risky driving behaviours: Kanetix survey
November 23, 2011 by Canadian UnderwriterTalking on a mobile phone or texting behind the wheel may be the most recent targets of legislative action in Canada, but plenty of other distractions exist for drivers – including eating and drinking behind the wheel, speeding and following…
Insured damage arising from Thailand flooding reaches between $15 billion and $20 billion: A.M. Best
November 23, 2011 by Canadian UnderwriterTwo typhoons and unusually heavy monsoon rains in Thailand since July 2011 have caused estimated insured damage of between $10 billion and $20 billion, with a significant portion of that related to business interruption losses, according to a Nov. 23…
Alberta P&C insurers see net income drop in first nine months of 2011
November 23, 2011 by Canadian UnderwriterA group of six Alberta incorporated property and casualty insurers reported a consolidated net income of $23.4 million for the first nine months of 2011, marking a drop from the $43.7 million reported during the same period of 2010. The…
Saskatchewan police blitz results in 200 drivers being fined for cell phone use
November 23, 2011 by Canadian UnderwriterA Saskatchewan law enforcement traffic blitz resulted in more than 200 drivers being fined for using a cell phone while driving.Operation HandsFree was held on Nov. 17 and 18 across Saskatchewan. Traffic enforcement officers watched for drivers talking or texting…
Reinsurance capital levels suggest hardening reinsurance market: Guy Carpenter
November 23, 2011 by Canadian UnderwriterHistorical capital levels of Guy Carpenter’s Global Reinsurance Composite between 1998 and 2011 Q2 suggest reinsurance rates may soon be on the rise.As of 2011 Q2, the capital level of reinsurers grouped in Guy Carpenter’s Reinsurance Composite approached just over…
Auto claims increase almost 50% during the winter months: Aviva Canada
November 23, 2011 by Canadian UnderwriterAuto claims increase 49% during the winter months between December and February, according to Aviva Canada’s annual statistics. Slippery roads, whiteout conditions and other weather-related factors contributed to more than $37.1-million auto collision claim payments made by the insurer during…
Private, non-for-profit and public organizations partner to better protect Toronto residents from severe weather
November 22, 2011 by Canadian UnderwriterMore than 50 public, private and not-for-profit organizations from across Toronto region have banded together to better protect the region’s residents, organizations, infrastructure and environment from extreme weather. The WeatherWise Partnership, convened by the City of Toronto and CivicAction, will…
FSCO announces 2012 indexation percentages
November 22, 2011 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released the 2012 indexation percentages for the Optional Indexation Benefit Guideline under both the old and new Statutory Accident Benefits Schedule (SABS). Under the new SABS (effective Sept. 1, 2010), the indexation…
InsurEye launches online consumer insurance spend comparison tool
November 22, 2011 by Canadian UnderwriterInsurEye Inc. has launched an online service for Canadian consumers allowing them to compare their insurance spending with their peers. InsurEye collects, validates and analyzes thousands of auto, home and life insurance experiences from people across the country. In order…
Big Data: When statisticians become corporate heroes
November 22, 2011 by Canadian UnderwriterCompanies today face an overwhelming crush of available information, a situation referred to as ‘Big Data,’ and those best able to discriminate between relevant and irrelevant data will emerge as the most competitive.In fact, statisticians may prove to be the…
The Dominion kicks off the third annual Dominion Curling Club Championship
November 22, 2011 by Canadian UnderwriterThe third annual Dominion Curling Club Championship, a week-long national curling event presented by The Dominion of Canada General Insurance Company (The Dominion), kicked off on Nov. 21.This year’s event is taking place at the Richmond Curling Club in Richmond,…
Motor vehicle collision deaths in Manitoba increase in 2011
November 22, 2011 by Canadian UnderwriterWith less than two months remaining in 2011, Manitoba has more traffic fatalities than all of last year, Manitoba Public Insurance (MPI) reports. As of mid-November, more than 100 deaths have occurred on Manitoba roadways significantly more than last year’s…