News
Loss ratio improves in 2012 for Lloyd’s despite billions in Storm Sandy claims
March 27, 2013 by Canadian UnderwriterLloyd’s released its financial results for 2012, reporting a profit of 2.77 billion British pounds despite billions in claims from damage resulting from Hurricane Sandy. Lloyd’s, which lost 516 million pounds in 2011, said Wednesday that its gross written premium…
Insured catastrophe losses in 2012 reached $77 billion, most losses in the U.S.: Swiss Re
March 27, 2013 by Canadian UnderwriterInsured losses from natural catastrophes and man-made disasters last year total $77 billion, making 2012 the third costliest year on record, says Swiss Re’s latest sigma report, released Wednesday. Economic losses from such catastrophes reached $186 billion last year, Swiss…
Plant Hope Adjusters opens new office in Nova Scotia
March 27, 2013 by Canadian UnderwriterPlant Hope Adjusters has announced the opening of its ninth office in Atlantic Canada. The flagship Nova Scotia office is located at Bedford within the Halifax Regional Municipality, which the company says allows for efficient access to all points within the…
Ontario Liberals support NDP motion for 15% reduction in auto insurance rates
March 27, 2013 by Harmeet Singh, Online EditorOntario Premier Kathleen Wynne said Wednesday that the Liberal government would back the New Democratic Party’s motion to reduce auto insurance rates in the province by 15%, but reiterated her party’s focus on anti-fraud reforms. Jagmeet Singh, the NDP’s consumer…
Nova Scotia bulletin provides service, fee schedule to take effect in April
March 27, 2013 by Canadian UnderwriterA new slate of maximum fees and disbursements payable for services, activities or functions under Nova Scotia’s Automobile Insurance Diagnostic and Treatment Protocols Regulations will take effect on April 1. A bulletin issued last week by the Nova Scotia’s Finance…
Major flooding possible on Manitoba’s Assiniboine River
March 26, 2013 by Canadian UnderwriterThe Manitoba government announced Tuesday the possibility of major flooding on several rivers including the Assiniboine, which runs through Brandon. “An unfavourable weather scenario would result in major flooding of the Assiniboine Valley from Shellmouth to Brandon similar to those…
ClaimsPro adds niche adjusting firm to business, expands B.C. presence
March 26, 2013 by Canadian UnderwriterIndependent adjusting firm ClaimsPro Inc. has added niche adjusting firm Ashcroft Insurance Adjusters (Ashcroft) to its business, the company announced Tuesday, expanding its presence in British Columbia. Based out of Nelson, B.C., Ashcroft will help ClaimsPro expand its business in…
Toronto, Vancouver, Montreal rank among low risk cities for talent management: Aon Hewitt
March 26, 2013 by Canadian UnderwriterToronto, Montreal and Vancouver are among the top 10 lowest risk cities in the world for recruiting, employing and relocating employees, according to rankings from Aon Hewitt, the global human resources business of Aon plc. The company’s 2013 People Risk…
Report documents populations, businesses in California tsunami-inundation zone
March 26, 2013 by Canadian UnderwriterNew research out of California that offers comprehensive documentation of the populations and businesses in the state’s maximum tsunami-inundation zone, information that may be of use in supporting tsunami preparedness and risk-reduction planning. “To reduce potential impacts of future tsunamis,…
Totten Insurance Group founder Ross Totten set to retire in June
March 26, 2013 by Canadian UnderwriterH. Ross Totten, longtime president and CEO of Totten Insurance Group, most recently the company’s chairman and chief sales officer, will be retiring June 30, after 43 years as an insurance intermediary. “It is time for me to move on…
Western Financial Group begins transition plan after president Scott Tannas appointed to Senate
March 26, 2013 by Canadian UnderwriterPrime Minister Stephen Harper announced Monday that Scott Tannas, president and CEO of Western Financial Group, has been appointed to the Senate. “I am pleased to announce the appointment of a remarkable Canadian to the Senate of Canada,” Harper said…
Third of British small businesses would make fake claims: survey
March 25, 2013 by Canadian UnderwriterA third of British small businesses included in a recent survey admit they have already or would exaggerate or fabricate an insurance claim, while one in ten said they would stretch the truth when applying for a policy. AXA Business…