News
Many Canadians aren’t confident businesses are protecting their personal information
April 17, 2013 by Canadian UnderwriterMany Canadians are not very confident about their ability to protect personal information when using new technologies, and want organizations to inform them of how they use such information, results from a poll by the Office of the Privacy Commissioner…
Quebec insurer group allows consumers online access to claims history
April 17, 2013 by Canadian UnderwriterThe association that includes all the private auto insurance carriers in Quebec announced Wednesday that consumers in the province can now consult their claims file online and can request access. Consumers can now request access to the Fichier central des…
Manitoba budget includes PST increase for infrastructure, flood protection
April 17, 2013 by Canadian UnderwriterThe Manitoba government has announced a planned increase to the provincial sales tax in its budget for 2013, as part of a plan that would address flood protection and upgrades to infrastructure in the province. The proposed increase in PST…
Munich Re supports earthquake prevention plan in high-risk region of India
April 17, 2013 by Canadian UnderwriterGlobal reinsurer Munich Re is supporting a two-year earthquake prevention project in an extremely high-risk city in India. Aizawl, a city in northeast India, has a population of about 300,000 and is situated in the “geographically complex border area between…
Supply chain interruption insurance has slow uptake in downstream energy market: Willis
April 17, 2013 by Canadian UnderwriterCarriers are slowly introducing supply chain interruption to downstream energy firms such as petroleum refineries, suggests a recent report from Willis Group Holdings plc, but many potential clients are not able to provide enough underwriting information for such coverage. “After…
Premiums, claims down for aviation insurers: Aon
April 16, 2013 by Canadian UnderwriterClaims and premiums for airline insurance were lower in 2012 than in 2011, a recent report from Aon Risk Solutions suggests, while competition will be intense in 2013. Lead hull and liability premiums were US$1.61 billion in 2012, down from…
Auto insurance rates decrease in New Brunswick, but home insurance premiums still a concern
April 16, 2013 by Canadian UnderwriterNew Brunswick’s Office of the Consumer Advocate for Insurance has released its annual report for 2012, reporting that while the auto insurance market in the province has continued to be stable, rising home insurance rates are still an issue. The…
IBC, FSCO make submissions for Ontario committee’s auto insurance hearings
April 16, 2013 by Canadian UnderwriterThe Insurance Bureau of Canada and the Financial Services Commission of Ontario were among the groups who have made submissions to a provincial legislative committee looking at auto insurance issues. The Standing Committee on General Government first began examining auto…
Changes in reinsurance market mean opportunity for mutual insurers: Willis
April 16, 2013 by Canadian UnderwriterMutual insurers are in a strong position to take advantage of changes in the traditional reinsurance market, including a flood of capital, Willis Re said this week. In its recent April 1 renewals report, the global reinsurance broker said that…
Record underwriting profits for SGI CANADA, reduced Saskatchewan rate stabilization reserve
April 16, 2013 by Canadian UnderwriterThe competitive arm of Saskatchewan Government Insurance (SGI) witnessed record underwriting profits in 2012, although a current rate increase proposal seeks to replenish the Saskatchewan Auto Fund’s rate stabilization reserve (RSR), which took a hit as a result of poor…
Distracted driving a factor in more fatalities than impaired driving: OPP
April 15, 2013 by Canadian UnderwriterIn Ontario, distracted driving-related fatalities surpassed impaired driving fatalities in 2012, according to the Ontario Provincial Police. Within the OPP’s jurisdiction, the police say 83 people were killed in motor vehicle accidents and close to 16,000 distracted driving charges were…
Allstate expands usage-based insurance program, launches smartphone app in the U.S.
April 15, 2013 by Canadian UnderwriterAuto insurer Allstate has expanded availability of its usage-based insurance tool, dubbed Drivewise, in the United States. The device is now available in 16 states, the company said Monday, after adding availability in Missouri, Indiana, Minnesota,Maryland, Utah, and Washington State.…