Topic
Mergers and Aqcuisitions
$26 billion in catastrophe losses in 2009: Swiss Re
March 16, 2010 by Canadian UnderwriterNatural catastrophes and man-made disasters cost insurers $26 billion and claimed roughly 15,000 lives in 2009, according to Swiss Re. Insured losses were below average due to a calm US hurricane season, reported the sigma study, Natural catastrophes and man-made…
Traffic fatalities down in the US
March 16, 2010 by Canadian UnderwriterThe number of overall traffic fatalities reported in 2009 reached the lowest level since 1954, according to the U.S. Department of Transportation. The fatality rate declined to the lowest on record, to 1.16 fatalities per 100 million vehicle miles traveled…
SGI Canada and Policy Works partner-up
March 15, 2010 by Canadian UnderwriterPolicy Works has entered into an agreement with SGI Canada to deliver a commercial lines data exchange solution. The agreement integrates Policy Works’ commercial management system (CMS) and SGI’s underwriting system. The integration between SGI’s underwriting system and the Policy…
FirstOnSite Restoration announces national sponsorship of WICC
March 15, 2010 by Canadian UnderwriterFirstOnSite Restoration has selected the Women in Insurance Cancer Crusade (WICC) as its chosen charity for national sponsorship. FirstOnSite is WICC’s newest national sponsor at the platinum level, representing a commitment of Cdn$45,000 over three years.“As an organization we wanted to…
Group disability benefits can be deducted from income replacement benefits: FSCO
March 12, 2010 by Canadian UnderwriterAn Ontario arbitration decision has once again raised a question about the deductibility of collateral benefits. This time a decision determined that long-term benefits received from a group disability insurance plan underwritten by Sun Life can be deducted from income…
United Way recognizes The Economical for going “above and beyond”
March 12, 2010 by Canadian UnderwriterThe United Way has named The Economical Insurance Group (TEIG) as a recipient of its Community Spirit Award.TEIG’s 2009 United Way campaign was one of its most successful campaigns to date — it raised just over $283,000 — including an…
Less than half of drivers prepared to handle accident aftermath: Carstar
March 11, 2010 by Canadian UnderwriterOnly 45% of Canadian drivers feel they are very prepared to immediately take the proper steps required after a car accident, a Carstar survey found. Just 33% of drivers are very likely to remember to gather all pertinent information at…
U.S. p&c industry regained ground, but not fully recovered in 2009
March 11, 2010 by Canadian UnderwriterThe U.S. property and casualty industry’s net income nearly tripled in 2009 to $35 billion, reports Highline Data Performance Monitor.The Performance Monitor aggregates financial data reported by individual insurance companies each quarter.Highline attributes the steep rise in net income to…
What’s New: In Brief (March 11, 2010)
March 11, 2010 by Canadian UnderwriterA 48-year-old Sault Ste Marie resident has been charged with five courts of fraud and five counts of theft after allegedly misappropriating client’s funds as an insurance agent. As of press time the allegations have not been proven in a…
Quebec broker association launches television marketing campaign
March 11, 2010 by Canadian UnderwriterThe Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) has launched its most aggressive media campaign promoting the independent broker channel in that province.The association has invested $750,000 to create and air four 30-second television ads on the networks…
What’s New: In Brief (March 10, 2010)
March 10, 2010 by Canadian UnderwriterNearly 300 immobilizer-equipped vehicles in Manitoba were stolen last year because the keys were either left in the ignition or elsewhere in the passenger compartment, Manitoba Public Insurance reported.The immobilized vehicles were stolen after owners had left their keys in…
Fulfilling legal obligation to advise of policy cancellation does not prove insured knew his policy had been cancelled: FSCO
March 10, 2010 by Canadian UnderwriterAn insurer that has satisfied its legal requirement for policy cancellation has not automatically proven that the insured knew his policy had been cancelled, an Ontario arbitrator has ruled.In Ersin Aksoy and Markel Insurance Company of Canada, the Financial Services…