Topic
Insurance
Police-reported crime rates down in 2009: Statistics Canada
July 22, 2010 by Canadian UnderwriterPolice-reported crime in Canada continued to decline in 2009, according to a new study released by Statistics Canada.“Nearly 2.2 million crimes were reported to police in 2009, about 43,000 fewer than in 2008,” Statistics Canada says. “Overall, three property crimes…
Banks’ customer satisfaction ratings increase in 2010
July 22, 2010 by Canadian UnderwriterAs insurance brokers prepare once more to negotiate with the government about the mandatory Bank Act review, customer satisfaction related to banks’ specialized accounts for borrowing, investment and insurance “has improved notably in 2010,” according to a study by J.D.…
11 New July Issue Online Photo Gallery updates now live at canadianunderwriter.ca
July 22, 2010 Canadian Underwriter magazine11 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca and are featured in the July 2010 issue of Canadian Underwriter magazine. The recent additions to the Online Photo Gallery are: – IIC…
Post-Part XIII, branches write $70 million in out-of-Canada gross premium in 2010 Q1.
July 21, 2010 by Canadian UnderwriterTotal gross written premium of out-of-Canada business written by branches in Canada amounted to almost $70 million in 2010 Q1 (annualized roughly to $280 million), according to the MSA/Baron Outlook Report Q1-2010.This is the first financial quarter in which the…
Excess capital suppresses commercial lines rates in 2010 Q2: RIMS Benchmark Survey
July 21, 2010 by Canadian UnderwriterExcess capacity in the commercial lines insurance marketplace continued to keep premiums under pressure during 2010 Q2, according to the RIMS Benchmark Survey.In the survey, administered by Advisen Ltd., risk managers reported decreases in average renewal premium of between 2.5%…
Keal launches software to aid brokers in auto reform implementation
July 21, 2010 by Canadian UnderwriterKeal Technology has launched software to support brokers through the implementation of the Ontario auto insurance reforms, which take effect Sept. 1, 2010.To comply with Financial Services Commission of Ontario (FSCO)’s reform standards, a special release of Keal’s Broker Management…
Contingent commission controversy stirred back up in US
July 21, 2010 by Canadian UnderwriterThe debate about whether or not commercial brokers should accept contingent commissions has heated up again, with brokerages drawing a line in the sand when it comes to whether or not they will use the remuneration approach.The New York Attorney…
WSI modifies 2010 hurricane forecast slightly to account for slow start to the season
July 20, 2010 by Canadian UnderwriterWeather Services International (WSI) has downgraded its 2010 hurricane forecast slightly to account for a slow start to the early season in June and July, but nevertheless predicts an “extremely active” season in August through to October.In total, WSI is…
U.S. securities litigation filings surges in 2010 Q2: Advisen
July 20, 2010 by Canadian UnderwriterThe U.S. government investigation of Goldman Sachs and the Deepwater Horizon oil spill may have sparked a surge in securities litigation in 2010 Q2, Advisen reports.In its quarterly report, Advisen noted the number of securities lawsuits filed in 2010 Q2…
CARSTAR announces senior appointments
July 20, 2010 by Canadian UnderwriterCARSTAR Automotive Canada has announced a series of appointments to its corporate management team.Lisa Mercanti-Ladd has been promoted from senior director to the assistant vice-president of marketing and client services. Throughout her tenure at CARSTAR, she has led marketing and…
Bank-owned insurers double market share since 2000: MSA/Baron
July 20, 2010 by Canadian UnderwriterBank-owned insurers have effectively doubled their market share in personal lines between 2000 and 2009, according to the MSA/Baron Outlook Report Q1-2010.Meanwhile, the broker channel has seen its market share in personal lines sink over the past decade from 66.6%…
Ontario Bar Association elects insurance law specialists to board of directors
July 19, 2010 by Canadian UnderwriterThe Ontario Bar Association (OBA) has elected insurance law specialists as its new president and second vice-president, effective August 15.Lee Akazaki, the OBA’s incoming president, is a lawyer at Gilbertson, Davis, Emerson in Toronto. He specializes in personal injury, property…