Segment
Brokers
IBC reminds Canadians to prepare as hail, hurricane seasons begin
June 2, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada is sending out reminders and tips for preventing property damage as hail season and the Atlantic hurricane season begin this week. Hail season begins now and generally runs until September in the Prairie provinces, IBC…
Value of fraudulent claims uncovered by insurers in U.K. hits record level
June 2, 2014 by Canadian UnderwriterAlthough the number of detected fraudulent insurance claims uncovered by insurers in the United Kingdom was down slightly last year, the value rose 18% to a record £1.3 billion in 2013 compared to 2012. Figures published Friday by the Association…
Broker Advocate
June 1, 2014 Greg Meckbach, Associate EditorOne goal for Ted Harman – who keeps himself busy running a brokerage in Montreal while also serving local, provincial and national organizations – is to make it easier for brokers to send data from their computer systems to those of insurers.
Paperless Savings
June 1, 2014 Catherine Smola, President and Chief Executive Officer, Centre for Study of Insurance OperationsGoing paperless offers the promise of some significant efficiencies and costs savings. Combining different solutions, however, can provide brokers the biggest bang for the buck.
Moves and Views
June 1, 2014 by Canadian Underwriter1 Aviva Insurance Company of Canada has announced that Sharon Ludlow [1] is the company’s new president, effective June 17. Ludlow’s last position was as president and chief executive officer of Swiss Re in Canada. In the newly created role…
The problem with property
May 31, 2014 Craig HarrisIn the wake of record catastrophic claims, insurers in key regions of Canada are changing their approach to personal and, to a lesser extent, commercial property insurance. Coverage terms are constricting, sub-limits are being introduced, deductibles are increasing and rates are rising, especially for water damage losses. It will take time before claims are filed on these revised policies and customers discover the true extent of coverage amendments. It’s a testy situation that could put independent adjusters on the spot.
Crawford CEO says industry needs better CAT preparation
May 31, 2014 byInsurance professionals need to be prepared in case natural catastrophes affect their own homes, and they also need to collaborate with competitors in order to develop an industry-wide solution for overland flooding, the head of a claims management firm’s Canadian…
RSA study sees increased observations of distracted driving
May 31, 2014 byCanadians report seeing many distracting driver behaviours, but few admit to being the ones fixing their hair while behind the wheel, according to a new survey from RSA. In the survey of 1,436 Canadian drivers conducted online by Leger Marketing,…
CSIO invites input on draft application forms for pollution coverage
May 30, 2014 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) is introducing draft versions of two pollution liability insurance application forms — one for premises owners and the other for contractors — with a working group scheduled to meet by webinar June…
Brokers ‘will be inundated with information from different insurers’ about telematics, ORBiT speaker warns
May 30, 2014 Greg Meckbach, Associate EditorThe use of telematics, to set auto insurance rates based on driving behaviour, presents both an opportunity and a risk for brokers, speakers suggested at a recent technology conference for brokers. “One of the things that you folks have that…
Commoditization of usage based insurance offerings taking place
May 30, 2014 Angela Stelmakowich, EditorThe current regulatory environment is fuelling commoditization of usage-based insurance (UBI) offerings, something that could be at odds with how open consumers are to exploring different options, Colin Wright, principal of Corner 2 Consulting, suggested during a presentation Thursday. “Because…
How Google got states to legalize driverless cars
May 30, 2014 Justin Pritchard, THE ASSOCIATED PRESSMOUNTAIN VIEW, Calif. – About four years ago, the Google team trying to develop cars driven by computers – not people – became convinced that sooner than later, the technology would be ready for the masses. There was one big…