Keyword
Ratings/Research
Driving Satisfaction
September 1, 2015 Valerie Monet, Director, Insurance Practice, J.D. PowerA recent survey from J.D. Power shows auto insurance providers need to focus on customer service to compete in Canada. One area where that focus will likely be important is the digital channel space.
ICBC to begin filing basic insurance rate application, will take two months before submitting the remainder
August 31, 2015 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) said on Monday that it will start the process of filing its basic insurance rate application with the British Columbia Utilities Commission (BCUC), but will take a further two months to analyze emerging…
Global reinsurers’ soft market pricing pressures slowing: Fitch Ratings
August 25, 2015 by Canadian UnderwriterThe reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, said Fitch Ratings in a new global sector report. Pricing in the reinsurance market has…
58% of U.S. fleet survey respondents would switch carriers if they were offered a “fully loaded” UBI package: LexisNexis study
August 25, 2015 by Canadian UnderwriterMore than half of small U.S. commercial fleet managers are likely to stay with their current insurance carriers rather than switching if their insurer offers usage-based insurance (UBI) programs, according to a LexisNexis white paper released on Tuesday. The 2015…
Losses from Tianjin port explosion still being calculated: A.M. Best
August 24, 2015 by Canadian UnderwriterVarious market sources have released insured loss estimates related to the massive explosion Aug. 12 at a toxic chemical warehouse in the Port at Tianjin, but A.M. Best Company cautions that the figures “are subject to uncertainty as residents within…
July 2015 warmest month ever recorded for the globe: NOAA
August 21, 2015 by Canadian UnderwriterJuly 2015 was the warmest month ever recorded for the globe, with average temperatures across global land and ocean surfaces 0.81°C above the 20th century average, according to the State of the Climate: Global Analysis for July 2015 report from…
29% of consumers satisfied with current insurance provider: Accenture survey
August 5, 2015 by Canadian UnderwriterNearly half of property & casualty insurance consumers surveyed in 33 countries reported they have purchased a policy online but only 16% of personal lines P&C and life customers were certain they would buy more products from their current insurance…
The Yellow Light Dilemma
July 31, 2015 Joseph Jakym, Partner, Roar Engineering|Joseph Jakym, Partner, Roar EngineeringDrivers face split-second decisions at intersections – an accident might not be as simple as it first appears.
Credit outlook for the North America insurance industry mostly stable: Standard & Poor’s
July 21, 2015 by Canadian UnderwriterA resilient economy in the United States is shielding North American credit conditions from increasing risks, while the credit outlook for the insurance industry being stable, notes a briefing issued Tuesday by Standard & Poor’s. The report is based on…
New Florida property insurers have confidence in risk data but next hurricane could cost more than $30 billion: A.M. Best
July 21, 2015 by Canadian UnderwriterInsurance carriers covering property in Florida have a “relatively high degree of confidence” in their risk data, but the next hurricane to hit the state could cause losses “much larger” than those from Hurricane Wilma in 2005, A.M. Best Company…
Combined ratio for U.S. property and casualty insurers up to 96% in Q1 2015 from 97.3% in Q1 2014: A.M. Best
July 20, 2015 by Canadian UnderwriterThe combination of improved underwriting results and higher net investment income helped produce a 12.9% increase in pre-tax operating income for the United States’ property/casualty industry in the first quarter of 2015 over the prior year first quarter, according to…
Management of drivable claims key to lower overall satisfaction with auto insurance claims process in Canada: J.D. Power
July 13, 2015 by Canadian UnderwriterTreatment of drivable claims – when a car is damaged, but still drivable – is a key factor fuelling polled Canadian drivers’ increasing dissatisfaction with the auto insurance claims process, note survey results released Monday by J.D. Power. Drivers taking…