Topic
Insurance
Canadian Underwriter magazine’s 2012 STATISTICAL ISSUE Digital Edition is now online
May 30, 2012 Canadian Underwriter magazineProviding a yearly comprehensive review of insurance company 2011 results in a format that is easy to use. It outlines and details insurance companies’ 2011 financial performance, market breakdown, and individual company results using summary tables and indexes. Canadian Underwriter…
Boozing while barbequing no garden party
May 29, 2012 by Canadian UnderwriterSummer is barbeque season, but research by More Th>n insurance in the United Kingdom shows that basic precautions may fall by the wayside during these sometimes-boozy affairs. One in four barbequing Brits have set charcoal ablaze while under the influence,…
Growth top concern for insurer CEOs: Munich Re survey
May 29, 2012 by Canadian UnderwriterA poll of 76 insurer senior executives by Munich Reinsurance America Inc. shows that keeping and increasing business is the number one issue facing property and casualty insurance companies. Almost half of the respondents (47%) to Munich Re’s CEO Roundtable…
STRONE Acquires Itech Precision Cleaning Inc.
May 29, 2012 Canadian Underwriter magazineSTRONE, an emergency and restoration company headquartered in Oakville, Ontario, has acquired Itech Precision Cleaning Inc. with its full scope of emergency response, environmental remediation, and technology restoration services. “This acquisition creates a complete emergency solution for insurance and facility…
Sarina Visram joins CSIO as manager of member relations
May 29, 2012 by Canadian UnderwriterSarina Visram has been named manager of member relations and communications for the Centre for Study of Insurance Operations (CSIO). In her new role, Visram will work to develop and implement programs and activities that improve membership engagement and promote…
Installing monitoring system can reduce home insurance premium
May 29, 2012 by Canadian UnderwriterOntario homeowners could see a reduction in home insurance premiums as part of a partnership between Allstate Insurance Company of Canada and Rogers. In markets where Smart Home Monitoring from Rogers is available, Allstate Canada customers who install the system…
Natural disasters cost Canadian manufacturers billions of dollars in lost production
May 28, 2012 by Canadian UnderwriterCanadian manufacturers experienced somewhere between $3 billion to $5 billion in lost production as a result of natural disasters such as Japan and Thailand in 2011, Jayson Myers, president and CEO of Canadian Manufacturers & Exporters, said during a webinar…
Claims costs for Ontario auto insurers “still out of control”: IBC
May 28, 2012 by Canadian UnderwriterClaims costs for Ontario auto insurers remain high despite the gains realized as a result of the provincial reforms in 2010, notes the Insurance Bureau of Canada’s (IBC) submission to the Ontario Committee Hearings on Auto Insurance on May 28.…
Two tornadoes touch down in Quebec, causing more than $1 million in damage
May 28, 2012 by Canadian UnderwriterEnvironment Canada has confirmed that a “very rare” F1 tornado packing speeds of 150 km-h tore through St.-Benoit-de-Mirabel on May 28, destroying a 200-year-old historical church and causing more then $1 million in damage. Environment Canada noted this is the…
Coroner’s jury recommends mandatory automatic sprinklers in care facilities
May 28, 2012 by Canadian UnderwriterA coroner’s jury exploring a deadly fire at an Orillia, Ontario retirement home three years ago is recommending that the province make automatic sprinklers mandatory in care occupancies. The recommendation to install the sprinklers retroactively in so-called B3 facilities is…
Cunningham Lindsey deploys catastrophe response team to help handle flood claims in Thunder Bay
May 28, 2012 by Canadian UnderwriterCunningham Lindsey Canada Claims Services Ltd. has deployed a catastrophe (CAT) response team to Thunder Bay, Ontario to assist with the handling of flood claims affecting hundreds of homes and commercial buildings. Up to 20 mm of rain fell in…
Auto reforms, mild weather drive increase in quarterly earnings for The Economical Insurance Group
May 25, 2012 by Canadian UnderwriterThe Economical Insurance Group (TEIG) increased its net income by $11.9 million in 2012 Q1, the company reported. “Our first-quarter results show that Economical is continuing to produce strong profitable growth,” Karen Gavan, TEIG president and CEO, said in a…