Topic
Markets / Coverages
Fire Underwriters Survey launches new Canadian Fire Insurance Grading Index version
May 23, 2014 by Canadian UnderwriterFire Underwriters Survey, operated by Opta Information Intelligence, will be releasing a new online system for its Canadian Fire Insurance Grading Index. Version 2.0 will be available May 25 through the iClarify property valuation tool from Opta, at no additional…
Climate change a good reason for risk managers to rethink their future role, FERMA says
May 23, 2014 by Canadian UnderwriterThe probable picture of climate change for Europe is too much water in the north and not enough in the south, making it clear that no risk manager can be unaware of the issues of climate change, suggests a statement…
The Dominion Insurance ‘benefited greatly’ from acquisition by Travelers: A.M. Best
May 23, 2014 by Canadian UnderwriterA.M. Best Company Inc. announced Friday it has assigned an “excellent” financial strength rating to The Dominion of Canada General Insurance Company, based mainly on the recent acquisition by The Travelers Companies Inc. That rating is “partially offset” by “legacy…
Ontario NDP says it would deliver 15% auto insurance rate decrease in first year
May 22, 2014 by Canadian UnderwriterOntario NDP Leader Andrea Horwath launched her party’s platform Thursday, saying her government would deliver a 15% reduction for auto insurance rates in its first year. “A year after the Liberals agreed to a 15% reduction, few Ontario drivers have…
New videos show common staged accident methods used for insurance fraud
May 22, 2014 by Canadian UnderwriterThe National Insurance Crime Bureau in the United States, along with the Los Angeles Police Department, has produced several new videos to show the most common methods of staging vehicle accidents used to defraud insurance companies. “These staged accidents are…
Net income for Canadian P&C industry falls 30% after record cat losses in 2013
May 20, 2014 by Canadian UnderwriterRecord catastrophe losses caused the Canadian property and casualty insurance industry to see a decline in underwriting profit for 2013 to $284 million, compared with $1.9 billion in 2012, according to a quarterly briefing from Swiss Re’s Economic Research and…
Horwath blasts Liberals on Ontario auto insurance; wants cuts passed on immediately
May 13, 2014 Colin Perkel, THE CANADIAN PRESSTORONTO – Insurance companies have cut payouts by billions of dollars over the past several years but motorists have seen little benefit by way of lower premiums, New Democrat Leader Andrea Horwath said Tuesday. Election campaigning at a mall in…
ICLR to showcase homes demonstrating wildfire, flood risk reduction methods
May 13, 2014 Greg Meckbach, Associate EditorThe Institute for Catastrophic Loss Reduction (ICLR) is aiming to “influence” the construction of new homes in Canada and plans to demonstrate loss mitigation methods on two homes this year in Western Canada. In May 2013, ICLR showed the public…
Q1 net income up for Industrial Alliance Insurance and Financial Services
May 8, 2014 by Canadian UnderwriterIndustrial Alliance Insurance and Financial Services Inc. has posted net income attributed to common shareholders of $82.9 million in 2014 Q1, up 4% from $79.7 million in the first quarter of 2013. The net income attributed to shareholders was also…
IBAO’s telematics subsidiary ‘reached out’ to Alberta auto insurance regulator
May 7, 2014 Greg Meckbach, Associate EditorJASPER, ALTA. — Officials with the Insurance Brokers Association of Ontario (IBAO)’s telematics subsidiary have discussed usage-based auto insurance with the Alberta regulator and are urging Alberta’s brokers to tell carriers that brokers need to have access to policyholders’ telematics…
Global insurance rates decline in first quarter of 2014: Marsh
May 6, 2014 by Canadian UnderwriterGlobal insurance rates declined in the first quarter of the year, mainly driven by softening property rates, Marsh said in its Global Insurance Market Quarterly Briefing, released this week. Rates tracked by the Marsh Risk Management Global Insurance Index declined…
One in 10 Canadian customers switch auto insurance carriers: J.D. Power survey
May 6, 2014 by Canadian UnderwriterOne in five Canadian auto insurance customers taking part in the J.D. Power 2014 Canadian Auto Insurance Satisfaction Study have shopped for a new insurer in the past 12 months, but just 9% have made the switch. The study measures…