News
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…
Western Financial makes deal to buy B.C. insurance services firm
May 16, 2013 by Canadian UnderwriterInsurance brokerage Western Financial Group announced Thursday it has reached an agreement to purchase Coast Capital Insurance Services Ltd. (CCIS), a subsidiary of the country’s largest credit union by membership, for an undisclosed amount. CCIS, a subsidiary of Coast Capital…
Neuroscience, behavioural studies suggest hands-free texting still distracted driving risk
May 16, 2013 by Canadian UnderwriterVoice recognition technology that lets users operate smartphones without typing does not eliminate the risk of distracted driving, a recent report suggests. “The crash risk associated with hands-free texting while driving is not as well understood because in-car voice-to-text technology…
Losses from disasters will stay “out of control” unless disaster risk management made core part of business strategies: UN
May 16, 2013 by Canadian UnderwriterDirect losses from disasters are approximately $2.5 trillion to date this century, according to a report from The United Nations Office for Disaster Risk Reduction (UNISDR). The United Nations has issued a stark warning to the world’s business community that…
Federal government renews funding for boat safety projects
May 16, 2013 by Canadian UnderwriterThe Canadian federal government has renewed a funding program for boating safety, aimed at limiting injuries and property damage related to boating incidents. Under Transport Canada’s Boating Safety Contribution Program (BSCP), the government has set aside roughly $1.8 million over…