What’s New: In Brief (May 08, 2009)

BCAA Insurance is introducing a 5% discount on collision premiums for vehicles equipped with Electronic Stability Control (ESC).
ESC is a computer-controlled safety device that monitors the vehicle’s direction compared to the direction of the steering wheel. The device is designed to apply brakes automatically to certain wheels or cut engine power to help regain control in the event of a skid or spin, according to a release.
Vehicles equipped with ESC were involved in roughly 30% fewer severe crashes due to loss of control, according to Canadian crash data from 2000-05.
If all passenger vehicles were equipped with ESC, there could be 255 fewer deaths and 1,440 fewer people seriously injured on our roads each year, based on this data, the release goes on to note.
“By offering a discount, we hope to encourage more drivers to select a vehicle equipped with this technology,” Heather Prizeman, BCAA auto insurance product manager, says in the release.

Marsh & McLennan Companies Inc. has announced a net income of US$176 million for 2009 Q1, as compare to a net loss of US$210 million in the same quarter of 2008.
The company reported an investment loss of US$15 million in the first quarter as compared to an investment income of US$8 million in 2008 Q1.
“Results for risk and insurance services were outstanding, with underlying revenue
rising 1%, excluding fiduciary income, and significantly improved margins,” Brian Duperreault, president and CEO of MMC, said in a release. “Marsh continued to achieve a substantial increase in profitability through expense discipline.
“Significantly improved profitability at Guy Carpenter was a result of strong new business and continued focus on expenses. As a result, operating margin in the segment increased to 21.6% from 15.6% and adjusted operating margin increased to 25% from 17.6%.”