News
Ontario Provincial Police lay over 8,000 charges during Victoria Day long weekend
May 21, 2013 by Canadian UnderwriterThe Ontario Provincial Police (OPP) have reported two fatalities over the Victoria Day long weekend, one involving a pedestrian and a distracted driver. A 79-year-old woman was killed after being struck by a driver who was reportedly using a handheld…
Risk management strategies must address “insider threats”: report
May 21, 2013 by Canadian UnderwriterWhile nearly two thirds of Canadian organizations included in a recent survey say they’re prepared to handle “insider threats,” only about one in seven have a specific internal definition of what those threats could be, according to a report from…
Ontario NDP to support provincial budget
May 21, 2013 by Canadian UnderwriterOntario NDP leader Andrea Horwath has announced that she will support the governing Liberal Party’s budget for 2013-14, which includes plans to reduce auto insurance rates in the province by an average of 15%. Following the tabling of the budget…
XL Group inland marine unit to offer truck cargo coverage
May 21, 2013 by Canadian UnderwriterXL Group plc (NYSE: XL) announced Tuesday that its inland marine division it is offering customized coverage for mid to large-sized trucking operations in North America, including errors and omissions, employee tools, accounts receivable and temperature control system breakdown. The…
U.S. commercial lines composite rate index up 5% in April: MarketScout
May 21, 2013 by Canadian UnderwriterThe composite rate index for U.S. property, casualty and professional liability business is plus 5%, matching the increase from March 2013, according to MarketScout, a Dallas-based insurance exchange with 35,000 users throughout the United States, mainly independent retail agents. Commercial…
Transparency key for brokers to retain customer confidence, keep their brand positive
May 17, 2013 by Greg Meckbach, Associate EditorProspective insurance clients are becoming more sophisticated, carriers and brokers need to provide full disclosure to their clients and one misstep can ruin your brand, suggests Bob Dempsey, president and chief operating officer of the Guarantee Company of North America.…
Canadian occupational therapists launch new resources for older driver safety
May 17, 2013 by Canadian UnderwriterThe Canadian Association of Occupational Therapists has developed a new set of resources for older drivers in the country. The resources, which includes a new Older Driver’s Safety website, are also aimed at families of older drivers, and also healthcare…
32.4 million people displaced from homes because of disasters in 2012
May 17, 2013 by Canadian UnderwriterMore than 32 million people worldwide were forced to leave their homes last year because of disasters such as floods, storms and earthquakes, according to a recent report from the Internal Displacement Monitoring Centre. In 2012, of the roughly 32.4…
Strong insurance sector growth expected through to 2020: Munich Re
May 17, 2013 by Canadian UnderwriterThe global insurance market will grow strongly in the years to come, especially in emerging countries, according to Munich Re. Growth in the reinsurance market will be slower than that in the primary insurance industry, Munich Re’s Insurance Market Outlook…
Minor earthquake in Western Quebec seismic zone felt in Toronto
May 17, 2013 by Canadian UnderwriterAn earthquake centred less than 100 kilometres from the nation’s capital, in the Western Quebec seismic zone, was felt in both Ottawa and Toronto Friday. At 9:43 a.m., a quake measuring 5.2 on the Richter scale was reported about 17…
Telematics could help reduce Ontario auto premiums, insurer president says
May 17, 2013 by Greg Meckbach, Associate EditorPolitical pressure to force insurance carriers to reduce auto premiums in Ontario is caused in part by public cynicism, but telematics may be part of the solution, suggests Bob Dempsey, president and chief operating officer of The Guarantee Company of…
Granite Claims Solutions acquires Collingwood-based adjusting firm
May 16, 2013 by Canadian UnderwriterGranite Claims Solutions has acquired HR Leiher Insurance Adjusters, a firm based in Collingwood, Ont. HR Leiher Insurance Adjusters was formed in 1991 and has since serviced Simcoe County and surrounding areas handling all classes of insurance claims. The company’s…