Keyword
Pricing
Facility Association board okays working group, opportunity to improve residual market mechanism structures: Tisdale
February 25, 2016 Angela Stelmakowich, EditorThe Facility Association’s (FA) Board of Directors Wednesday authorized the creation of a working group to explore the optimal residual market mechanisms for automobile insurance in Canada, Bob Tisdale, outgoing chair of the board, announced at the association’s Annual General…
Canadian commercial insurance prices in Q3 2015 show first decrease since Q3 2011: Willis Towers Watson survey
January 28, 2016 by Canadian UnderwriterCanadian commercial insurance prices in aggregate for the third quarter of 2015 have shown the first quarter of decrease since Q3 2011, according to the latest Willis Towers Watson (WTW) Commercial Lines Insurance Pricing Survey (CLIPS) – Canada. “Commercial insurance…
Moderated cat bond activity, mixed pricing levels at year-end 2015: GC Securities
January 27, 2016 by Canadian UnderwriterAlthough 144A property and casualty (P&C) cat bond primary issuance levels were charted as “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels seen in 2014, according to GC…
Guy Carpenter reports stable capital at Jan. 1 renewals
January 6, 2016 by Canadian UnderwriterGuy Carpenter & Company, a global risk and reinsurance specialist and wholly-owned subsidiary of Marsh & McLennan Companies, announced late Tuesday that overall capital levels dedicated to reinsurance have stabilized, showing no growth for the first time in several years.…
2015 Q3 sees tenth consecutive quarterly decline for global insurance rates, casualty rate increases in certain regions driven by cyber
November 25, 2015 by Canadian UnderwriterCommercial insurance rates decreased globally during 2015 Q3 – posting a global composite decline of 4.8% – marking the tenth consecutive quarterly decline, notes the November 2015 edition of Marsh’s Global Insurance Market Quarterly Briefing. Released Tuesday, the briefing shows…
New products biggest growth opportunity for (re)insurers in 2016: Guy Carpenter
November 6, 2015 by Canadian UnderwriterNew products represent the biggest growth opportunity for (re)insurers in 2016, according to a survey released on Thursday by Guy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies. For…
Consumer-based approach key, consolidation a potential threat to making Ontario auto insurance market competitive
October 30, 2015 Angela Stelmakowich, EditorTaking a consumer-based approach to auto insurance is what allowed New Jersey to punt the perennial political football from the state arena and create a truly competitive market – something that Holly Bakke suggests Ontario could accomplish as well. “What…
North American consumers slow to adopt mobile phone payments: Accenture survey
October 20, 2015 by Canadian UnderwriterWhile more than half of North American consumers are aware they can make payments through their mobile phones, fewer than one in five (18%) use these phones to make at least one payment a week, according to a report released…
Ontario consumers “likely overpaid” $702 million for auto insurance, concludes study
October 19, 2015 by Canadian UnderwriterDespite a six-point increase, from 2013 to 2014, in the Ontario auto accident benefits claims ratio, a new study commissioned by the Ontario Trial Lawyers Association still concludes consumers “likely overpaid” by $702 million for auto insurance in 2014. Last…
Interesting manoeuvres expected at reinsurance renewal, buyers investigating additional limits: Guy Carpenter
October 19, 2015 by Canadian UnderwriterSome interesting manoeuvers can be expected as reinsurers seek to hold or grow their share of signings in the forthcoming renewals, Nick Frankland, CEO of Europe, Middle East and Africa (EMEA) operations for Guy Carpenter & Company, LLC, suggested Sunday during…
ICBC asking for 5.5% increase to basic insurance rates
October 15, 2015 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) said that it will submit the remainder of its 2015 basic rate application on Thursday, asking for a 5.5% increase to basic insurance rates – lower than the earlier potential for 6.7% considered…
Ontario drivers with winter tires soon eligible for insurance discount
October 14, 2015 by Canadian UnderwriterOntario’s Ministry of Finance announced on Wednesday that the province is “moving forward with its plan to help lower auto insurance rates” by requiring all provincial insurance companies to provide a discount for drivers who buy and install winter tires,…