Topic
Insurance
Zurich Financial Services reports 2009 Q1 net income decreases 75% from 2008 Q1
May 7, 2009 by Canadian UnderwriterZurich Financial Services Limited reported a 2009 Q1 profit of US$362 million, a decrease of 75% over the same period last year.The company’s general insurance segment reported gross written premiums and policy fees of US$9.8 billion, down 12% or 3%…
More than monitoring needed to decrease risky teenager driving behaviour
May 7, 2009 by Canadian UnderwriterMonitoring teenaged drivers helps to increase the use of seatbelts, but decreasing more complicated behaviour like speeding and sudden braking poses more difficulty, researchers at the Insurance Institute for Highway Safety (IIHS) found.In the study, In-Vehicle Monitoring and the Driving…
The Economical, Policy Works to introduce round-trip, commercial data exchange
May 7, 2009 by Canadian UnderwriterThe Economical Insurance Group (TEIG) has entered into an agreement with Policy Works Inc. to deliver a commercial lines data exchange solution between the Policy Works Commercial Management System (CMS) and TEIG’s brokerEXPRESS Web-quoting facility.Expected to be completed in Summer…
HCAI on track for voluntary rollout
May 6, 2009 by Canadian UnderwriterThe Health Claims for Auto Insurance (HCAI) is on track for a voluntary rollout at the end of summer, provided the testing phase meets required outcomes. Currently, the system is in an extended test cycle which will continue until July.…
Dire need for investment in Canada’s road infrastructure
May 6, 2009 by Canadian UnderwriterCanadian roads are expected to remain significantly underfunded over the next five years, according to a KPMG report. Canadian road expenditure is predicted to grow by an average of 1% per year between 2009 and 2013, taking the total expenditure…
What’s New: In Brief (May 06, 2009)
May 6, 2009 by Canadian UnderwriterCARSTAR Automotive Canada is aiming to set a Guiness World Record for largest car wash during its sixth annual fundraiser ‘Soaps It Up National Car Wash Day.’ More than 125 ‘Soaps it Up’ events will be held at CARSTAR locations…
New Brunswick to enforce strict drinking and driving rule for new drivers
May 6, 2009 by Canadian UnderwriterAs of June 1, 2009 all New Brunswick motorists under the age of 21 and/or with a class 2 licence, must maintain a zero per cent blood-alcohol level when driving. The new rule will applie to all drivers under the…
What’s New: In Brief (May 05, 2009)
May 5, 2009 by Canadian UnderwriterCanadian Independent Adjusters’ Association — Ontario Region is hosting an education seminar on May 13, 2009. The half-day seminar will focus on two relevant issues facing adjusters today: ladder safety and transportation road safety. There are requirements under the Ontario…
B.C. and Alta credit union battle could impact national Bank Act war
May 5, 2009 by Canadian UnderwriterIf B.C. and Alberta credit unions are allowed to own or operate Alberta insurance brokerages as a result of harmonizing legislation between Alberta and B.C., that could have a huge impact on the national Bank Act issue. And yet, the…
CEO panel at IBAA heats up over use of credit scoring
May 5, 2009 by Canadian UnderwriterA lack of transparency and clarity in the regulations around the use of credit scoring are major obstacles to its widespread use in underwriting personal lines insurance policies, insurance company executives on a CEO panel told the annual general meeting…
Co-Operators reports Q1 net loss
May 5, 2009 by Canadian UnderwriterCo-Operators General Insurance Company reported a net loss of $6.4 million in 2009 Q1, compared to a net income of $5.9 million in 2008 Q1.Its minimum capital test score dropped to 200% in Q1 from 255% in 2008 Q1. Still,…
What’s New: In Brief (May 05, 2009)
May 5, 2009 by Canadian UnderwriterCanadian Independent Adjusters’ Association — Ontario Region is hosting an education seminar on May 13, 2009. The half-day seminar will focus on two relevant issues facing adjusters today: ladder safety and transportation road safety. There are requirements under the Ontario…