Segment
Brokers
California must decide by year’s end how to integrate driverless cars onto public roads
March 12, 2014 Justin Pritchard, THE ASSOCIATED PRESSLOS ANGELES – California is trying to do something unusual in this age of rapidly evolving technology – get ahead of a big new development before it goes public. By the end of the year, the Department of Motor Vehicles…
Ontario NDP slams changes to auto insurance attendant care benefits
March 7, 2014 by Canadian UnderwriterNew changes to the standard Ontario auto insurance policy were characterized this week as “mean spirited” by the New Democratic Party’s consumer services critic, though the Insurance Bureau of Canada suggests that one amendment that took effect Feb. 1 did…
Beacon Underwriting acquires Vancouver-based MGA Can-Sure
March 6, 2014 by Canadian UnderwriterBeacon Underwriting, an insurance managing general agency, announced Wednesday that it has acquired the business of Can-Sure Underwriting, Ltd., a Vancouver-based MGA. Terms of the deal were not disclosed. The Can-Sure operations will add a new office to Beacon’s footprint…
Sprint partners with Ontario ‘connected car’ company on usage based insurance
March 5, 2014 by Canadian UnderwriterU.S. telecom giant Sprint announced Wednesday that a usage-based insurance offering through IMS UBI Intelligence, is now available through its insurance solutions portfolio for auto insurance customers. The offering is provided by Intelligent Mechatronic Systems (IMS), a Waterloo, Ont.-based company…
Ontario government plans to move auto insurance dispute resolution system out of FSCO
March 4, 2014 by Canadian UnderwriterThe Ontario government is introducing legislation that would move administration of the current dispute resolution system for auto insurance claims from the Financial Services Commission of Ontario to the Ministry of the Attorney General’s Licence Appeal Tribunal. In an announcement…
Economical plans new national processing centre in Kitchener, Ont.
March 3, 2014 by Canadian UnderwriterEconomical Insurance has announced plans for a new national processing centre in Kitchener, Ont. as part of its new operating model, under which it hopes to make underwriting operations more effiicent and consistent. The new centre, at the insurer’s Riverbend…
Moves and Views
March 1, 2014 by Canadian Underwriter1 Gore Mutual Insurance Company of Cambridge, Ontario recently announced its president and chief executive officer, Kevin McNeil [1a], will retire June 30. Effective February 17, Heidi Sevcik [1b], former vice president of claims, became Gore Mutual’s new chief operating…
Aviva Canada set to move headquarters to Markham, Ontario
February 26, 2014 by Canadian UnderwriterAviva Canada officially announced Wednesday its plan to relocate its head office to The Remington Group’s ‘Downtown Markham’ development in Markham, Ontario. The Remington Group held an Aviva Canada head office groundbreaking event at the Downtown Markham location Wednesday, which…
Customers not reporting high rate of positive experiences for digital interactions with insurers
February 26, 2014 by Canadian UnderwriterThe expense ratio of Canada’s non-life insurance industry increased from 2011 to 2012, due in part to the cost of upgrading and replacing legacy computer systems, while worldwide, customers “do not report a high rate of positive experience” when interacting…
Municipal infrastructure, condos with washing machines among major issues for insurers covering water damage
February 25, 2014 by Canadian UnderwriterThe resources dedicated by Canadian insurance carriers to auto rate filings, the tendency of condominium units to have dishwashers and washing machines, climate change and the current state of municipal infrastructure are all major issues for property insurers covering water…
Tough catastrophe year contributes to lower 2013 net income for Economical Insurance
February 24, 2014 by Canadian UnderwriterEconomical Insurance saw its full-year net income fall from $151 million in 2012 to $87.7 million in 2013 in the wake of the worst catastrophe year in the insurer’s history. The net income for 2013 was significantly impacted by weather-related…
Insurance Institute to hold National Education Week, offer weather preparedness seminars
February 21, 2014 by Canadian UnderwriterThe Insurance Institute of Canada will be celebrating National Education Week from Feb 24 to 28, with regional chapters holding professional development events for industry professional. Events and seminars hosted across Canada on topics specific to the insurance industry, as…