News

More companies purchased cyber insurance in 2012 over previous years in an effort to protect themselves from data breaches, notes a new report from Marsh. The number of the company’s U.S. clients purchasing cyber insurance increased by 33% from 2011…

Creating a dedicated infrastructure bank to help coordinate infrastructure development and investment is among the initiatives outlined in New York State’s proposal for housing and business recovery programs to help residents devastated by Superstorm Sandy, Hurricane Irene and Tropical Storm…

Desjardins General Insurance Group announced Thursday its direct written premiums increased 8.2% year-over-year from 2011 to 2012, but suggested Ontario auto continues to be a concern. In a press release, the Levis, Que.-based carrier said in 2012, it recorded net…

High net worth (HNW) families in the United States often do not carry enough liability coverage in a variety of forms, leaving their wealth unnecessarily exposed, notes a new ACE survey of independent insurance agents and brokers. “Most wealthy individuals…

Honda Canada has announced a recall involving 7,800 vehicles to address potential malfunctions with the vehicle stability assist (VSA) system on the Pilot and three Acura models that could increase crash risk. Honda Canada will recall approximately 3,200 Honda Pilot…

Willis Group Holdings unveiled Tuesday its DairyProtector program, targeted at American farms producing raw milk for bulk sales. DairyProtector will be administered by Portsmouth, N.H.-based Willis Programs, which sells specialty products for specific industries. It will be available in 19…

Saskatchewan General Insurance (SGI), the government-mandated auto carrier in the province, may submit an amended application to the Saskatchewan Rate Review Panel for increases to motorcycle premiums, while Premier Brad Wall suggests legislative changes may be needed if bikers want…

Merger and acquisition activity in the U.S. insurance market may take off this year, after a relatively quiet 2012, but challenges remain in making such deals, notes a report from Deloitte. Last year there was a 20% decrease from 2011…

Improving the customer experience, especially through leveraging data analytics, is among the key issues facing the property and casualty industry in the coming year, notes a new report from PricewaterhouseCoopers in the U.S.. The popularity of mobile technology and e-commerce…

The Association of British Insurers (ABI) today released proposals to foster what it characterizes as a fair, independent and objective approach to help the United Kingdom shake its title as whiplash capital of Europe. “Our proposals will ensure better medical…

Ontario’s New Democratic Party is calling on the provincial government to provide more details on what the Financial Services Commission of Ontario (FSCO) is doing to address the issue of insurance industry profits and driver premiums. “Ontario drivers are paying…

Weather forecasters are predicting higher than normal amounts of precipitation in parts of southern Ontario this spring, though the temperature in March will not reach last year’s records highs. In a blog post Tuesday, AccuWeather predicted temperatures this spring will…