The operating performance of U.S. p&c insurers improved significantly in the first half of 2012, Fitch Ratings notes in a new report. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers improved to 96.2% through mid-year 2012 from 107.9%…
The management and utilization of “big data” is critical in competitiveness within the insurance industry, states a recent report from Gartner. However, most insurers struggle with understanding just what big data is, as well as lacking the data governance, information…
A new survey measuring consumers’ understanding of insurance products indicates a widespread lack of knowledge, signalling the need for more education to ensure individuals are properly protected. The survey, conducted by SOM research in June for Desjardins Group, involved 3,000…
New York’s Metropolitan Transportation Authority (MTA) has submitted its Federal Emergency Management Agency (FEMA) and insurance claims to recover $65 million in losses from flood and wind damage to the regional transit infrastructure in the wake of Tropical Storm Irene…
A product that allows insurance carriers to use predictive scores to quote homeowners’ policies online in real time has scored almost 1.5 million policies in the U.S. since its launch in March, Denver-based Valen Technologies reports. PropertyRight is a set…
Michael Holden, President & CEO of Granite Claims Solutions, is pleased to announce the appointment of Kurt Johnston to the role of Vice President, Sales and Marketing. As the current VP of Granite’s Marketing Department, Kurt has assumed the Sales leadership…
Insurance Bureau of Canada (IBC)’s public awareness campaign on Ontario auto insurance has listened to disgruntled consumers and now aims to promote understanding of the reasons behind stubbornly high rates. “We wanted to find out what Ontarians were thinking about…
After coming ashore in southeastern Louisiana late Aug. 28, Hurricane Isaac has dropped substantial rain and brought maximum sustained winds of 80 mph to the region. Catastrophe modelling firm Eqecat has made the first initial disaster estimate of insured losses…
The Guarantee is enhancing the breadth of coverage offered to our Guarantee GOLD®clients. An Equipment Breakdown Extension will be automatically added to Guarantee GOLD® Homeowner and Guarantee GOLD® Secondary Homeowner Policies. As a “specialty insurer”, our objective is to provide…
The Risk and Insurance Management Society, Inc. (RIMS) is reiterating its opposition to draft legislation that would place significant restrictions on domestic insurers that cede reinsurance to their foreign affiliates. That view was offered in an official comment letter to…
Tammie Norn, CEO of ProFormance Adjusting Solutions and John Seyler, President of ProFormance Specialty Claims are pleased to welcome Simone Cybulski to the ProFormance team. Working from her Kingston office Simone will service the Eastern Ontario Region from Belleville to…
Routine traffic stops by members of the Southern Georgian Bay auxiliary unit of the Ontario Provincial Police (OPP) are revealing an increase in fraudulent insurance documents. “Unsuspecting consumers are being targeted by fake insurance companies selling auto insurance in Ontario,”…