Topic
Insurance
One-fifth of Alberta and B.C. homeowners do not have right home insurance protection: survey
July 12, 2012 by Canadian UnderwriterAlbertan and British Columbian homeowners may not be getting the right home insurance protection, with many being offered named peril and broad-form policies in situations in which a comprehensive policy would be more appropriate. Square One Insurance Services Inc., which…
NEW MOBILE APP AIMS TO STREAMLINE CLAIM ASSIGNMENTS
July 12, 2012 Certified Restoration Drycleaning NetworkBerkley, MI, July 12, 2012 – CRDN, the Certified Restoration Drycleaning Network, has launched a third platform for its new mobile application that enables insurance professionals to assign claims, upload claim data and loss site photos, view the progress of…
B.C. Supreme Court orders defendants in vehicle fraud ring to pay about $850,000 in damages
July 11, 2012 by Canadian UnderwriterThe Supreme Court of British Columbia has ordered defendants in a vehicle fraud scheme to pay damages, including punitive damages, to the Insurance Corporation of British Columbia (ICBC). The court reportedly ordered 11 or so defendants to pay a total…
Marsh brings Canadian energy hub under leadership of Bertil Olsson
July 11, 2012 by Canadian UnderwriterMarsh is bringing its Canadian energy hub under the leadership of Bertil Olsson, who has been named North American energy practice leader. Based in Houston, Olsson has led Marsh’s U.S. energy mining and power practice since 2008. He now has…
Insurance-linked securities take off in first half of 2012
July 11, 2012 by Canadian UnderwriterThe first half of 2012 was the most active first half for Insurance-Linked Securities (ILS) issuance since 2007, Swiss Re notes in its July edition of Insurance-linked securities market update. “With approximately US$3.6 billion across 16 transactions and 28 tranches,…
NHL stars John Tavares and Taylor Hall named coaches in second annual Allstate All-Canadians Mentorship Cup
July 11, 2012 by Canadian UnderwriterThe National Hockey League Players’ Association (NHLPA) has announced that NHL stars John Tavares and Taylor Hall have been named the coaches of the second annual Allstate All-Canadians Mentorship Cup. NHL players Jason Spezza, Tyler Seguin, Jeff Skinner and Martin…
Colorado’s most destructive wildfire now contained
July 11, 2012 by Canadian UnderwriterThe worst wildfire to hit Colorado has now been fully contained, according to the Associated Press and a report from a U.S. federal incident management team. The 29-square-mile Waldo Canyon Fire started on June 23 and was completely encircled July…
Moore-McLean Insurance Group appoints John Belyea as chief operating officer
July 10, 2012 by Canadian UnderwriterMoore-McLean Insurance Group, an independent insurance broker in Ontario, has appointed John Belyea as its chief operating officer. During his 23-year career, Belyea has held numerous leadership positions in the insurance brokerage industry, beginning with Trivest Insurance Network in 1989…
Key driving behaviours better indicators of risk than traditional rating variables: Progressive
July 10, 2012 by Canadian UnderwriterKey driving behaviors — for example, actual miles driven, braking and time of day of driving — can predict the likelihood of a claim far better than traditional insurance rating variables such as a driver’s demographic profile, age, and the…
Aon Benfield catalogues June 2012 catastrophe losses in the United States, Canada
July 10, 2012 by Canadian UnderwriterU.S. severe weather insurance losses totalled nearly $2 billion in June 2012, according to the latest edition of Aon Benfield’s monthly Global Catastrophe Recap, which reviews natural disaster perils occurring worldwide. In Canada, the report notes that powerful thunderstorms ripped…
Zurich offers online rate, quote and policy issuance platform to Ontario’s independent brokers
July 10, 2012 by Canadian UnderwriterZurich Canada has made ZurichEZclick.ca, its online rate, quote and policy issuance platform, available to independent brokers in Ontario. This is the first time independent brokers in Ontario are invited to do business with Zurich through www.ZurichEZclick.ca. Using this system,…
Insurance rates follow hardening trend
July 10, 2012 by Canadian UnderwriterInternational insurance prices continued to firm in 2012 Q2, according to a new global insurance index launched recently by Marsh. The index takes into account client renewal data on property, casualty and financial and professional lines of business from 20…