Keyword
premiums
Autonomous vehicles may reduce U.S. motor premiums by more than 40% by 2050: Aon Benfield
September 13, 2016 by Canadian UnderwriterAutonomous vehicles may reduce motor pure premiums in the United States by more than 40% by the time they “reach full adoption in 2050,” according to a recent Global Insurance Market Opportunities report from Aon Benfield. Aon Benfield, the global…
Zurich Insurance Group’s 2016 business operating profit down in H1, up in Q2 over prior-year periods
August 11, 2016 by Canadian UnderwriterContinuing to build on its efforts to simplify and become more agile, Zurich Insurance Group reports that its business operating profit (BOP) for the first half of 2016 was US$2.194 million, down 2% from US$2.238 million for 2015 H1. Figures…
Echelon Financial Holdings Inc. sees lower net income in 2016 Q2, will focus on Canadian operations
August 5, 2016 by Canadian UnderwriterEchelon Financial Holdings Inc. (EFH) is exiting the European market to focus on growing its Canadian operations, which were negatively affected by the Fort McMurray wildfires that contributed to lower net income for both 2016 H1 and Q2 compared to…
Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1
August 4, 2016 by Canadian UnderwriterHannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at…
The Co-operators reports net loss of $39.1 million in 2016 Q2 for Co-operators General Insurance Company
July 29, 2016 by Canadian UnderwriterCo-operators General Insurance Company, part of The Co-operators Group, took a hit from the devastating Fort McMurray wildfire, reporting a consolidated net loss of $39.1 million for 2016 Q2 compared to a net income of $58.2 million for 2015 Q2.…
Chubb Limited’s net income for 2016 Q2 down 22.8% from 2015 Q2
July 28, 2016 by Canadian UnderwriterHigher natural catastrophe losses globally were among the factors contributing to Chubb Limited reporting US$726 million in net income for the three months ended June 30, 2016 compared to US$942 million for the prior-year quarter. Chubb’s net income was also…
Insurers should offer lower premiums to motorists who don’t use mobile phones while driving, U.K. survey finds
July 20, 2016 by Canadian UnderwriterSix in ten motor insurance policyholders in the United Kingdom say that avoiding any type of mobile phone use should be a top factor used by insurers in offering lower premiums, according to a new survey. The survey of 1,314…
Car insurance premiums in the U.K. up 19% year-over-year, new study finds
July 11, 2016 by Canadian UnderwriterMotorists in the United Kingdom are facing the biggest annual price hikes in car insurance premiums in five years, with prices rising by £115 over the last 12 months, according to the latest Confused.com Car Insurance Price Index, powered by…
Manitoba Public Insurance seeks 2% basic auto rate increase after “unprecedented” claims payouts
June 17, 2016 by Canadian UnderwriterManitoba Public Insurance (MPI) said on Friday that it has asked the Public Utilities Board for a 2% increase to Basic Autopac rates, citing an “unprecedented” year for comprehensive (non-collision) claims payouts. Basic Autopac is an all-perils coverage that insures…
Only 10% of Ontario drivers report being “very knowledgeable” about elements of a standard auto insurance policy: FSCO-commissioned survey
June 15, 2016 by Canadian UnderwriterOnly 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released…
Almost 70% of polled Canadians believe home security increases home value
May 19, 2016 by Angela StelmakowichResults of a national poll issued Thursday indicate that 69% of surveyed Canadians believe that home security systems add value to their homes. Despite that belief, though, almost 40% of respondents were unaware that having a home security system reduces…
Driverless cars could have significant credit impact across range of sectors, Moody’s report says
May 17, 2016 by Canadian UnderwriterDriverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive…