Keyword
Economical
What happened to an Ontario auto insurer that actually cut rates by 15%
March 9, 2018 by Greg MeckbachOntario’s ill-fated effort to force auto insurance rates down 15% is having some lingering effects on one insurer. “I think we were one of the few [Ontario auto insurers] that met the government’s mandated 15% rate reduction and that has…
Why your CGL pollution exclusion may not go far enough
January 4, 2018 by Canadian UnderwriterEven though they put pollution exclusions into their commercial general liability policies, two major insurers are still on the hook for defending a Vancouver area dry cleaner against a lawsuit arising from soil contamination, a court ruled last week. In…
2018 Outlook: Rowan Saunders, President, CEO, Economical Insurance
January 2, 2018 Rowan SaundersThe continued deterioration and loss trends in automobile insurance and the impact of climate change will be the two biggest trends affecting Canada’s property and casualty insurance market in 2018. Auto is a challenge in many parts of the country,…
Insurer “redefines” its commercial insurance strategy
November 16, 2017 Jason Contant, Online EditorEconomical Insurance is looking to “redefine” its approach to commercial insurance with a new strategy and structure, the insurer’s manager of public and media relations, Doug Maybee, told Canadian Underwriter on Thursday. “It certainly shows that we are taking steps…
Small Canadian mutual insurers ‘may not realize’ all benefits of demutualization: A.M. Best
September 1, 2017 by Canadian UnderwriterWhile Economical Insurance plans to submit next year a conversion proposal outlining a proposal to demutualize, if a smaller mutual property and casualty insurer were to go through the same process as Economical, it “may not realize the benefits when…
A.M. Best reports spike in Canadian investment in U.S. insurance market
September 1, 2017 by Canadian UnderwriterThere is a “growing interest” among Canadian property and casualty insurers in the United States market, while on this side of the border, Aviva plc has became the Number 2 P&C insurer in Canada and the loss ratio in Canadian…
Roger Dunbar appointed to lead Sonnet
August 11, 2017 by Canadian UnderwriterSonnet Insurance Company announced on Friday that Roger Dunbar has been appointed to lead the company, Economical Insurance’s digital direct channel, effective Monday, Aug. 14. “With a career focused on digital innovation and improved customer experience, Dunbar will lead a…
Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%
August 4, 2017 by Canadian UnderwriterEconomical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written…
Economical launches data breach coverage for Canadian businesses
August 2, 2017 by Canadian UnderwriterWaterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of…