News

This year will likely see “rapid expansion” of telematics and usage based auto insurance programs among North American insurers, notes a new report from industry research firm Strategy Meets Action. According to SMA’s research, 70% of auto insurers are in…

Saskatchewan Government Insurance (SGI) has submitted a proposal to the Saskatchewan Rate Review Panel that, if given the green light, would result in approximately 57% of vehicles with higher auto rates, while about 43% would see rate decreases or no…

Russia emergencies minister Vladimir Puchkov visited the scene after a meteor disintegrated over the Chelyabinsk region in Russia’s central Ural Mountains, prompting reports of property damage and hundreds of injuries. “We enforced emergencies ministry brigades and are restoring the buildings…

The Co-operators General Insurance Co. announced Thursday its financial results for 2012, reporting net income of $257.7 million on direct written premiums of $2.1066 billion for the full year. Last year, the Guelph, Ont.-based firm recorded net income of $150.3…

Guidance on how language within building and plumbing codes should be interpreted with respect to backwater valves should support mandatory installation in all or most new Canadian homes, suggests a research paper released today by the Institute for Catastrophic Loss…

In a more globalized world with complex supply chains, protection for contingent business interruption risk is critical, although modelling for the risk is still in the early states, notes a new report from PwC. In the first part of its…

Global insurer Zurich has posted a business operating profit of $4.1 billion and a net income (after tax, attributable to shareholders) of $3.9 billion for 2012, though its last quarter of the year wasn’t as strong as 2011. For the…

Three major global firms providing insurance brokerage and risk management services in Canada recently reported revenues increased year-to-year from 2011 to 2012. For 2012, Marsh & McLennan Companies Inc. recorded revenues of $11.9 billion, up from $11.5 billion in 2011.…

Deloitte Consulting LLP recently released results of a survey on supply chain risk, finding 63% of executives surveyed were “highly concerned” about risks within a supply chain that includes vendors and customers. The report, The Ripple Effect: How Manufacturing and Retail…

Computer security threats, an increase in regulatory requirements for financial services firms and concern from environmentalists over oil spills and hydraulic fracturing are among the top concerns of senior business executives who participated in a recent survey. Consulting firm Protiviti…

Distracted driving was at least partially behind 30% of motor vehicle related fatalities in British Columbia last year, the RCMP in the province has reported. Preliminary statistics for 2012 also suggest that 37% of all motor vehicle related injuries involved…

“Expect the unexpected” should be the mantra for insurance CEOs facing a new era of “stable instability,” note findings from a survey and report released this week by PwC. “Risks that once seemed improbable and even remote have become the…